Sanctuary Advisors LLC Makes New Investment in WK Kellogg Co (NYSE:KLG)

Sanctuary Advisors LLC acquired a new stake in shares of WK Kellogg Co (NYSE:KLG) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 27,308 shares of the company’s stock, valued at approximately $515,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Captrust Financial Advisors increased its holdings in WK Kellogg by 12,352.1% in the 3rd quarter. Captrust Financial Advisors now owns 1,516,417 shares of the company’s stock valued at $25,946,000 after purchasing an additional 1,504,239 shares in the last quarter. AQR Capital Management LLC grew 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 acquiring an additional 1,197,133 shares in the last quarter. Jupiter Asset Management Ltd. grew its position in 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 acquiring an additional 341,939 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of WK Kellogg by 124.5% in the second quarter. Renaissance Technologies LLC now owns 538,600 shares of the company’s stock valued at $8,865,000 after purchasing an additional 298,700 shares during the period. Finally, Verition Fund Management LLC grew its holdings in WK Kellogg by 563.8% during the 3rd quarter. Verition Fund Management LLC now owns 333,321 shares of the company’s stock valued at $5,703,000 after purchasing an additional 283,104 shares in the last quarter. Hedge funds and other institutional investors own 95.74% of the company’s stock.

Insider Transactions at WK Kellogg

In related news, Director G Zachary Gund bought 65,000 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was bought 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 in the company, valued at approximately $3,463,200. The trade was a 50.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.90% of the company’s stock.

WK Kellogg Stock Performance

Shares of KLG stock opened at $18.17 on Thursday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.34 and a current ratio of 0.78. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of 23.29 and a beta of 0.05. WK Kellogg Co has a one year low of $12.32 and a one year high of $24.63. The company’s 50-day simple moving average is $18.62 and its 200-day simple moving average is $17.72.

WK Kellogg (NYSE:KLG) last released its 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 return on equity of 33.41% and a net margin of 2.50%. The company 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 business posted $0.49 EPS. WK Kellogg’s quarterly revenue was down .4% compared to the same quarter last year. Equities analysts anticipate that WK Kellogg Co will post 1.49 earnings per share for the current fiscal year.

WK Kellogg Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.64 annualized dividend and a yield of 3.52%. WK Kellogg’s payout ratio is 82.05%.

Analyst Upgrades and Downgrades

Separately, Barclays raised their target price on WK Kellogg from $16.00 to $19.00 and gave the company an “underweight” rating in a research note on Monday, November 11th. Three analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $19.71.

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.