WK Kellogg Co (NYSE:KLG) Shares Bought by International Assets Investment Management LLC

International Assets Investment Management LLC grew its position in shares of WK Kellogg Co (NYSE:KLG) by 1,724.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,688 shares of the company’s stock after buying an additional 4,431 shares during the quarter. International Assets Investment Management LLC’s holdings in WK Kellogg were worth $80,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. AQR Capital Management LLC lifted its position 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 valued at $23,107,000 after purchasing an additional 1,197,133 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of WK Kellogg by 9.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 904,699 shares of the company’s stock valued at $14,891,000 after buying an additional 77,262 shares during the period. Jupiter Asset Management Ltd. boosted its stake in shares of WK Kellogg by 64.4% in the second quarter. Jupiter Asset Management Ltd. now owns 873,047 shares of the company’s stock valued at $14,370,000 after buying an additional 341,939 shares in the last quarter. Rodgers Brothers Inc. grew its holdings in WK Kellogg by 2,253.3% during the first quarter. Rodgers Brothers Inc. now owns 623,468 shares of the company’s stock worth $11,721,000 after acquiring an additional 596,975 shares during the period. Finally, Renaissance Technologies LLC raised its position in WK Kellogg by 124.5% in the second quarter. Renaissance Technologies LLC now owns 538,600 shares of the company’s stock worth $8,865,000 after acquiring an additional 298,700 shares in the last quarter. 95.74% of the stock is currently owned by institutional investors and hedge funds.

WK Kellogg Trading Up 16.7 %

NYSE:KLG opened at $19.66 on Friday. WK Kellogg Co has a 12 month low of $10.11 and a 12 month high of $24.63. The business’s 50-day moving average is $17.51 and its two-hundred day moving average is $18.21. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.83 and a quick ratio of 0.36. The firm has a market capitalization of $1.69 billion and a PE ratio of 14.04.

WK Kellogg (NYSE:KLG) last announced its earnings results on Tuesday, August 6th. The company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.06). The business had revenue of $672.00 million during the quarter, compared to analyst estimates of $671.50 million. WK Kellogg had a net margin of 4.45% and a return on equity of 42.12%. The firm’s revenue for the quarter was down 4.0% on a year-over-year basis. Research analysts predict that WK Kellogg Co will post 1.5 earnings per share for the current fiscal year.

WK Kellogg Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.64 annualized dividend and a yield of 3.26%. WK Kellogg’s dividend payout ratio (DPR) is 45.71%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. decreased their target price on shares of WK Kellogg from $22.00 to $17.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Stifel Nicolaus lowered their target price on shares of WK Kellogg from $22.00 to $18.00 and set a “hold” rating on the stock in a research report on Tuesday, July 23rd. Finally, Barclays reduced their price target on shares of WK Kellogg from $19.00 to $16.00 and set an “underweight” rating for the company in a research report on Friday, July 19th. Three investment analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $18.50.

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.