D.A. Davidson & CO. Raises Position in WK Kellogg Co (NYSE:KLG)

D.A. Davidson & CO. lifted its stake in WK Kellogg Co (NYSE:KLG) by 10.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 123,684 shares of the company’s stock after purchasing an additional 12,113 shares during the quarter. D.A. Davidson & CO. owned about 0.14% of WK Kellogg worth $2,116,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. AQR Capital Management LLC increased its position in WK Kellogg by 579.1% during 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 during the last quarter. Charles Schwab Investment Management Inc. raised its position in WK Kellogg by 7.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,112,558 shares of the company’s stock worth $19,036,000 after purchasing an additional 79,808 shares during the period. Bank of New York Mellon Corp lifted 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 worth $14,891,000 after purchasing an additional 77,262 shares during the last quarter. Jupiter Asset Management Ltd. lifted its stake in WK Kellogg by 64.4% in the second quarter. Jupiter Asset Management Ltd. now owns 873,047 shares of the company’s stock worth $14,370,000 after purchasing an additional 341,939 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of WK Kellogg by 124.5% during the second quarter. Renaissance Technologies LLC now owns 538,600 shares of the company’s stock valued at $8,865,000 after buying an additional 298,700 shares during the period. Institutional investors own 95.74% of the company’s stock.

WK Kellogg Stock Performance

KLG stock opened at $20.80 on Friday. WK Kellogg Co has a one year low of $10.99 and a one year high of $24.63. The firm has a market cap of $1.79 billion and a price-to-earnings ratio of 26.67. 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 firm has a 50-day simple moving average of $17.74 and a two-hundred day simple moving average of $17.71.

WK Kellogg (NYSE:KLG) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.05. The business had revenue of $689.00 million for the quarter, compared to analyst estimates of $674.10 million. WK Kellogg had a return on equity of 33.41% and a net margin of 2.50%. The company’s revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.49 earnings per share. On average, equities analysts forecast that WK Kellogg Co will post 1.49 EPS for the current fiscal year.

WK Kellogg Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend is Friday, November 29th. WK Kellogg’s dividend payout ratio is presently 82.05%.

Insider Buying and Selling at WK Kellogg

In related news, Director G Zachary Gund acquired 65,000 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was acquired at an average price of $17.76 per share, with a total value of $1,154,400.00. Following the acquisition, the director now directly owns 195,000 shares in the company, valued at $3,463,200. This represents a 50.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

KLG has been the topic of a number of recent analyst reports. Barclays increased their target price on WK Kellogg from $16.00 to $19.00 and gave the stock an “underweight” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. lowered their price objective on shares of WK Kellogg from $22.00 to $17.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Three analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $18.88.

WK Kellogg 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.