WK Kellogg Co (NYSE:KLG) Stake Boosted by Franklin Resources Inc.

Franklin Resources Inc. raised its position in shares of WK Kellogg Co (NYSE:KLG) by 13.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 170,161 shares of the company’s stock after buying an additional 20,033 shares during the quarter. Franklin Resources Inc. owned 0.20% of WK Kellogg worth $3,010,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sanctuary Advisors LLC purchased a new stake in shares of WK Kellogg in the 3rd quarter valued at approximately $515,000. Geode Capital Management LLC boosted its position in shares of WK Kellogg by 2.7% in the third quarter. Geode Capital Management LLC now owns 1,507,713 shares of the company’s stock worth $25,802,000 after buying an additional 38,939 shares during the period. Barclays PLC grew its holdings in shares of WK Kellogg by 406.6% during the third quarter. Barclays PLC now owns 128,710 shares of the company’s stock valued at $2,202,000 after buying an additional 103,301 shares in the last quarter. Stifel Financial Corp raised its position in WK Kellogg by 107.3% during the third quarter. Stifel Financial Corp now owns 28,409 shares of the company’s stock valued at $486,000 after buying an additional 14,705 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its stake in WK Kellogg by 31.1% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,124,503 shares of the company’s stock worth $19,240,000 after acquiring an additional 266,877 shares in the last quarter. 95.74% of the stock is currently owned by institutional investors and hedge funds.

WK Kellogg Stock Up 2.9 %

KLG opened at $18.17 on Thursday. The company has a market capitalization of $1.56 billion, a PE ratio of 23.29 and a beta of 0.05. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.78 and a quick ratio of 0.34. WK Kellogg Co has a fifty-two week low of $12.32 and a fifty-two week high of $24.63. The business has a 50-day moving average of $18.62 and a 200-day moving average of $17.72.

WK Kellogg (NYSE:KLG) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.05. The firm had revenue of $689.00 million for the quarter, compared to analyst estimates of $674.10 million. WK Kellogg had a net margin of 2.50% and a return on equity of 33.41%. The company’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter last year, the firm earned $0.49 earnings per share. Equities research analysts forecast that WK Kellogg Co will post 1.49 EPS for the current fiscal 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 issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date was Friday, November 29th. WK Kellogg’s dividend payout ratio is presently 82.05%.

Analyst Ratings Changes

Separately, Barclays lifted 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 equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $19.71.

Insiders Place Their Bets

In related news, Director G Zachary Gund bought 65,000 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was purchased at an average price of $17.94 per share, with a total value of $1,166,100.00. Following the completion of the transaction, the director now directly owns 65,000 shares of the company’s stock, valued at $1,166,100. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.90% of the company’s stock.

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.