Nordea Investment Management AB Increases Stake in WK Kellogg Co (NYSE:KLG)

Nordea Investment Management AB lifted its stake in shares of WK Kellogg Co (NYSE:KLG) by 11.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 61,249 shares of the company’s stock after buying an additional 6,135 shares during the quarter. Nordea Investment Management AB’s holdings in WK Kellogg were worth $1,109,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Captrust Financial Advisors grew its holdings in WK Kellogg by 12,352.1% in the third quarter. Captrust Financial Advisors now owns 1,516,417 shares of the company’s stock worth $25,946,000 after purchasing an additional 1,504,239 shares during the period. Geode Capital Management LLC grew its holdings in WK Kellogg by 2.7% in the third quarter. Geode Capital Management LLC now owns 1,507,713 shares of the company’s stock worth $25,802,000 after purchasing an additional 38,939 shares during the period. AQR Capital Management LLC grew its holdings in WK Kellogg by 579.1% in the second quarter. AQR Capital Management LLC now owns 1,403,854 shares of the company’s stock worth $23,107,000 after purchasing an additional 1,197,133 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in WK Kellogg by 31.1% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,124,503 shares of the company’s stock worth $19,240,000 after purchasing an additional 266,877 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in WK Kellogg by 7.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,112,558 shares of the company’s stock worth $19,036,000 after purchasing an additional 79,808 shares during the period. Hedge funds and other institutional investors own 95.74% of the company’s stock.

WK Kellogg Stock Down 4.5 %

Shares of WK Kellogg stock opened at $15.59 on Monday. The company has a market cap of $1.34 billion, a price-to-earnings ratio of 19.99 and a beta of 0.72. The company’s 50 day moving average is $18.68 and its 200 day moving average is $17.70. WK Kellogg Co has a twelve month low of $12.32 and a twelve month high of $24.63. The company has a quick ratio of 0.34, a current ratio of 0.78 and a debt-to-equity ratio of 1.49.

WK Kellogg (NYSE:KLG) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.05. The company had revenue of $689.00 million for 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 firm’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.49 earnings per share. Research analysts anticipate that WK Kellogg Co will post 1.49 EPS for the current year.

WK Kellogg Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a $0.16 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.11%. WK Kellogg’s dividend payout ratio (DPR) is presently 82.05%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Barclays upped 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. TD Cowen cut shares of WK Kellogg from a “hold” rating to a “sell” rating and cut their price objective for the stock from $18.00 to $16.00 in a report on Wednesday, January 8th. Four investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Based on data from MarketBeat, WK Kellogg currently has an average rating of “Reduce” and an average price target of $18.57.

Insider Transactions at WK Kellogg

In other news, Director G Zachary Gund acquired 65,000 shares of WK Kellogg stock in a transaction dated Thursday, November 14th. The stock was purchased at an average cost of $17.76 per share, with a total value of $1,154,400.00. Following the completion of the purchase, the director now directly owns 195,000 shares in the company, valued at approximately $3,463,200. This trade represents a 50.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.90% of the company’s stock.

About WK Kellogg

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.