Barclays PLC Has $2.20 Million Position in WK Kellogg Co (NYSE:KLG)

Barclays PLC lifted its stake in WK Kellogg Co (NYSE:KLG) by 406.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 128,710 shares of the company’s stock after acquiring an additional 103,301 shares during the quarter. Barclays PLC’s holdings in WK Kellogg were worth $2,202,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of KLG. Bank of New York Mellon Corp grew its stake in WK Kellogg by 9.3% in the second quarter. Bank of New York Mellon Corp now owns 904,699 shares of the company’s stock valued at $14,891,000 after purchasing an additional 77,262 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of WK Kellogg by 27.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,007 shares of the company’s stock valued at $329,000 after buying an additional 4,354 shares during the last quarter. Panagora Asset Management Inc. bought a new stake in shares of WK Kellogg in the 2nd quarter valued at approximately $1,858,000. Rothschild Investment LLC acquired a new position in WK Kellogg in the second quarter worth approximately $46,000. Finally, Versor Investments LP bought a new position in WK Kellogg during the second quarter valued at approximately $314,000. 95.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at WK Kellogg

In other WK Kellogg news, Director G Zachary Gund purchased 65,000 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was bought at an average cost of $17.94 per share, for a total transaction of $1,166,100.00. Following the completion of the acquisition, the director now directly owns 65,000 shares in the company, valued at $1,166,100. This represents a ? increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Separately, Barclays boosted 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. Three equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $19.71.

WK Kellogg Trading Up 2.9 %

NYSE:KLG opened at $18.17 on Thursday. The company’s 50 day moving average is $18.62 and its 200-day moving average is $17.72. 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 Co has a 12 month low of $12.32 and a 12 month high of $24.63. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of 23.29 and a beta of 0.05.

WK Kellogg (NYSE:KLG) last announced its earnings results on Thursday, November 7th. The company reported $0.31 EPS for the quarter, topping the consensus estimate 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 quarter last year, the firm posted $0.49 EPS. The business’s quarterly revenue was down .4% on a year-over-year basis. Equities analysts anticipate that WK Kellogg Co will post 1.49 EPS for the current year.

WK Kellogg Dividend Announcement

The firm 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. The ex-dividend date was Friday, November 29th. This represents a $0.64 annualized dividend and a dividend yield of 3.52%. WK Kellogg’s dividend payout ratio is presently 82.05%.

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.