WK Kellogg Co (NYSE:KLG) Stock Holdings Lowered by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. cut its position in WK Kellogg Co (NYSE:KLG) by 7.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,861 shares of the company’s stock after selling 1,248 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in WK Kellogg were worth $271,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in shares of WK Kellogg by 88.6% in the third quarter. GAMMA Investing LLC now owns 1,890 shares of the company’s stock valued at $32,000 after purchasing an additional 888 shares during the period. EntryPoint Capital LLC bought a new position in WK Kellogg in the 1st quarter worth approximately $42,000. Rothschild Investment LLC bought a new position in WK Kellogg in the 2nd quarter worth approximately $46,000. Abich Financial Wealth Management LLC increased its position in WK Kellogg by 3,575.4% in the 3rd quarter. Abich Financial Wealth Management LLC now owns 4,484 shares of the company’s stock valued at $77,000 after acquiring an additional 4,362 shares during the period. Finally, International Assets Investment Management LLC raised its stake in WK Kellogg by 1,724.1% during the 3rd quarter. International Assets Investment Management LLC now owns 4,688 shares of the company’s stock valued at $80,000 after acquiring an additional 4,431 shares in the last quarter. 95.74% of the stock is owned by institutional investors and hedge funds.

WK Kellogg Price Performance

NYSE:KLG opened at $18.87 on Friday. The company has a quick ratio of 0.34, a current ratio of 0.78 and a debt-to-equity ratio of 1.49. The business’s 50-day moving average price is $17.45 and its 200 day moving average price is $17.79. WK Kellogg Co has a 52-week low of $10.99 and a 52-week high of $24.63. The firm has a market cap of $1.63 billion and a P/E ratio of 22.99.

WK Kellogg (NYSE:KLG) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.05. WK Kellogg had a net margin of 2.50% and a return on equity of 33.41%. The company had revenue of $689.00 million for the quarter, compared to analysts’ expectations of $674.10 million. During the same quarter in the previous year, the company posted $0.49 EPS. The business’s revenue was down .4% compared to the same quarter last year. As a group, sell-side analysts predict that WK Kellogg Co will post 1.49 earnings per share for the current fiscal year.

WK Kellogg Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.16 per share. The ex-dividend date is Friday, November 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.39%. WK Kellogg’s dividend payout ratio (DPR) is presently 82.05%.

Analyst Ratings Changes

Several research analysts have recently issued reports on KLG shares. Barclays increased their price target on WK Kellogg from $16.00 to $19.00 and gave the stock an “underweight” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. decreased their target price on shares of WK Kellogg from $22.00 to $17.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $18.88.

Insider Transactions at WK Kellogg

In related news, Director G Zachary Gund acquired 65,000 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were purchased at an average price of $17.76 per share, for a total transaction of $1,154,400.00. Following the acquisition, the director now owns 195,000 shares in the company, valued at approximately $3,463,200. This represents a 50.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.90% of the company’s stock.

WK Kellogg Company Profile

WK Kellogg Co operates as a food company in the United States, Canada, and the Caribbean. It manufactures, markets, and distributes ready-to-eat cereal products primarily under the Frosted Flakes, Special K, Froot Loops, Raisin Bran, Frosted Mini-Wheats, and Kashi brands. The company was formerly known as North America Cereal Co and changed its name to WK Kellogg Co in March 2023.