KBC Group NV Reduces Holdings in WK Kellogg Co (NYSE:KLG)

KBC Group NV lessened its position in shares of WK Kellogg Co (NYSE:KLG) by 40.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 25,527 shares of the company’s stock after selling 17,451 shares during the quarter. KBC Group NV’s holdings in WK Kellogg were worth $459,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its holdings in WK Kellogg by 11.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 439,258 shares of the company’s stock worth $7,232,000 after purchasing an additional 46,735 shares during the period. The Manufacturers Life Insurance Company grew its stake in WK Kellogg by 158.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 33,726 shares of the company’s stock valued at $555,000 after acquiring an additional 20,656 shares in the last quarter. Mackenzie Financial Corp purchased a new position in WK Kellogg during the second quarter worth approximately $183,000. Truist Financial Corp increased its position in WK Kellogg by 11.4% during the second quarter. Truist Financial Corp now owns 38,808 shares of the company’s stock worth $639,000 after purchasing an additional 3,970 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in WK Kellogg in the second quarter valued at approximately $1,259,000. Hedge funds and other institutional investors own 95.74% of the company’s stock.

Insiders Place Their Bets

In other news, Director G Zachary Gund purchased 65,000 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The shares were purchased at an average price of $17.76 per share, with a total value of $1,154,400.00. Following the purchase, the director now directly owns 195,000 shares of the company’s stock, valued at approximately $3,463,200. This represents a 50.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.90% of the stock is owned by insiders.

WK Kellogg Stock Down 2.4 %

KLG opened at $16.59 on Monday. The firm has a market cap of $1.43 billion, a P/E ratio of 21.27 and a beta of 0.72. The business’s fifty day simple moving average is $18.34 and its 200 day simple moving average is $17.70. WK Kellogg Co has a 52 week low of $12.32 and a 52 week 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 results on Thursday, November 7th. The company reported $0.31 EPS for the quarter, topping 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 business had revenue of $689.00 million during 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 company’s quarterly revenue was down .4% compared to the same quarter last year. As a group, equities research analysts anticipate that WK Kellogg Co will post 1.48 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

KLG has been the subject of several research reports. Barclays dropped their target price on shares of WK Kellogg from $19.00 to $16.00 and set an “underweight” rating for the company in a report on Friday, January 17th. Stifel Nicolaus decreased their price objective on shares of WK Kellogg from $19.00 to $18.00 and set a “hold” rating for the company in a research note on Friday, January 24th. Jefferies Financial Group decreased their price objective on WK Kellogg from $19.00 to $16.00 and set a “hold” rating for the company in a research report on Tuesday, January 28th. Finally, TD Cowen downgraded WK Kellogg from a “hold” rating to a “sell” rating and cut their target price for the stock from $18.00 to $16.00 in a research note on Wednesday, January 8th. Four investment analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $17.88.

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.