State Street Corp Sells 14,041 Shares of WK Kellogg Co (NYSE:KLG)

State Street Corp cut its position in WK Kellogg Co (NYSE:KLG) by 0.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,499,044 shares of the company’s stock after selling 14,041 shares during the quarter. State Street Corp’s holdings in WK Kellogg were worth $42,759,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of KLG. Captrust Financial Advisors boosted its holdings in WK Kellogg by 12,352.1% during the third quarter. Captrust Financial Advisors now owns 1,516,417 shares of the company’s stock valued at $25,946,000 after acquiring an additional 1,504,239 shares during the period. AQR Capital Management LLC boosted its stake in WK Kellogg by 579.1% during the 2nd 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. Jupiter Asset Management Ltd. boosted its stake in WK Kellogg by 64.4% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 873,047 shares of the company’s stock valued at $14,370,000 after purchasing an additional 341,939 shares during the period. Renaissance Technologies LLC increased its position in WK Kellogg by 124.5% in the 2nd quarter. Renaissance Technologies LLC now owns 538,600 shares of the company’s stock worth $8,865,000 after buying an additional 298,700 shares during the period. Finally, Verition Fund Management LLC lifted its holdings in shares of WK Kellogg by 563.8% during the third quarter. Verition Fund Management LLC now owns 333,321 shares of the company’s stock worth $5,703,000 after buying an additional 283,104 shares during the last quarter. Institutional investors own 95.74% of the company’s stock.

Insider Transactions at WK Kellogg

In other WK Kellogg news, Director G Zachary Gund purchased 65,000 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was purchased at an average price of $17.76 per share, with a total value of $1,154,400.00. Following the completion of the transaction, the director now directly owns 195,000 shares of the company’s stock, 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. 0.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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 research note on Monday, November 11th. Three equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $19.71.

WK Kellogg Trading Down 1.9 %

Shares of KLG opened at $17.88 on Friday. The stock’s 50-day moving average price is $18.60 and its 200 day moving average price is $17.74. The company has a quick ratio of 0.34, a current ratio of 0.78 and a debt-to-equity ratio of 1.49. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of 22.92 and a beta of 0.07. WK Kellogg Co has a 12-month low of $12.24 and a 12-month high of $24.63.

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

WK Kellogg Dividend Announcement

The firm 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. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date of this dividend was Friday, November 29th. WK Kellogg’s dividend payout ratio is 82.05%.

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.