WK Kellogg Co (NYSE:KLG) Stock Holdings Increased by GAMMA Investing LLC

GAMMA Investing LLC increased its holdings in WK Kellogg Co (NYSE:KLG) by 49.4% during the fourth quarter, Holdings Channel reports. The firm owned 2,823 shares of the company’s stock after purchasing an additional 933 shares during the period. GAMMA Investing LLC’s holdings in WK Kellogg were worth $51,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Alpha Omega Wealth Management LLC raised its holdings in shares of WK Kellogg by 4.9% in the 3rd quarter. Alpha Omega Wealth Management LLC now owns 12,880 shares of the company’s stock worth $220,000 after purchasing an additional 600 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of WK Kellogg by 65.1% in 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 in the last quarter. Truist Financial Corp raised its holdings in shares of WK Kellogg by 11.4% in the 2nd quarter. Truist Financial Corp now owns 38,808 shares of the company’s stock worth $639,000 after purchasing an additional 3,970 shares in the last quarter. Abich Financial Wealth Management LLC raised its holdings in shares of 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 worth $77,000 after purchasing an additional 4,362 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of WK Kellogg by 32.6% in the 3rd quarter. Victory Capital Management Inc. now owns 17,761 shares of the company’s stock worth $304,000 after purchasing an additional 4,369 shares in the last quarter. 95.74% of the stock is currently owned by institutional investors.

WK Kellogg Stock Performance

Shares of KLG opened at $15.42 on Tuesday. The company’s 50 day moving average price is $18.66 and its 200 day moving average price is $17.69. WK Kellogg Co has a 52 week low of $12.32 and a 52 week high of $24.63. The company has a market capitalization of $1.33 billion, a PE ratio of 19.77 and a beta of 0.72. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.34 and a current ratio of 0.78.

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

WK Kellogg Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date was Friday, November 29th. WK Kellogg’s payout ratio is presently 82.05%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on KLG shares. Barclays lifted their target price on shares of WK Kellogg from $16.00 to $19.00 and gave the stock an “underweight” rating in a research report on Monday, November 11th. TD Cowen downgraded shares of WK Kellogg from a “hold” rating to a “sell” rating and dropped their target price for the stock from $18.00 to $16.00 in a research 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. Based on data from MarketBeat.com, WK Kellogg currently has an average rating of “Reduce” and a consensus target price of $18.57.

Insider Buying and Selling at WK Kellogg

In other WK Kellogg news, Director G Zachary Gund bought 65,000 shares of WK Kellogg stock in a transaction on Thursday, November 14th. The stock was purchased at an average cost of $17.76 per share, for a total transaction of $1,154,400.00. Following the completion of the purchase, the director now directly owns 195,000 shares of the company’s stock, valued at $3,463,200. The trade was a 50.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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.