CWA Asset Management Group LLC Purchases 32,218 Shares of WK Kellogg Co (NYSE:KLG)

CWA Asset Management Group LLC lifted its position in shares of WK Kellogg Co (NYSE:KLG) by 191.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 49,010 shares of the company’s stock after purchasing an additional 32,218 shares during the period. CWA Asset Management Group LLC’s holdings in WK Kellogg were worth $882,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in KLG. GAMMA Investing LLC boosted its stake in shares of WK Kellogg by 88.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,890 shares of the company’s stock worth $32,000 after buying an additional 888 shares during the last quarter. Abich Financial Wealth Management LLC boosted its position in WK Kellogg by 3,575.4% in the third quarter. Abich Financial Wealth Management LLC now owns 4,484 shares of the company’s stock worth $77,000 after purchasing an additional 4,362 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of 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 purchasing an additional 4,431 shares during the last quarter. nVerses Capital LLC bought a new stake in shares of WK Kellogg during the 3rd quarter worth $99,000. Finally, Nisa Investment Advisors LLC raised its stake in shares of WK Kellogg by 65.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 8,802 shares of the company’s stock worth $151,000 after purchasing an additional 3,471 shares during the period. 95.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director G Zachary Gund bought 65,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was acquired at an average price of $17.94 per share, for a total transaction of $1,166,100.00. Following the purchase, the director now directly owns 65,000 shares in the company, valued at $1,166,100. This trade represents a ? increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Separately, Barclays raised their price objective on shares of WK Kellogg from $16.00 to $19.00 and gave the stock an “underweight” rating in a report on Monday, November 11th. Three research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $19.71.

WK Kellogg Trading Down 0.1 %

Shares of KLG opened at $17.57 on Wednesday. The firm has a market cap of $1.51 billion, a P/E ratio of 22.53 and a beta of 0.72. WK Kellogg Co has a fifty-two week low of $12.32 and a fifty-two week high of $24.63. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.34 and a current ratio of 0.78. The business has a 50-day moving average of $18.72 and a 200 day moving average of $17.71.

WK Kellogg (NYSE:KLG) last posted its earnings results on Thursday, November 7th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.05. The firm had revenue of $689.00 million during the quarter, compared to the consensus estimate of $674.10 million. WK Kellogg had a net margin of 2.50% and a return on equity of 33.41%. The company’s revenue was down .4% on a year-over-year basis. During the same quarter last year, the company earned $0.49 earnings per share. As a group, research analysts forecast that WK Kellogg Co will post 1.49 EPS for the current year.

WK Kellogg Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date was Friday, November 29th. WK Kellogg’s payout ratio is currently 82.05%.

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.