Intech Investment Management LLC Invests $997,000 in WK Kellogg Co (NYSE:KLG)

Intech Investment Management LLC bought a new stake in shares of WK Kellogg Co (NYSE:KLG) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 58,269 shares of the company’s stock, valued at approximately $997,000. Intech Investment Management LLC owned approximately 0.07% of WK Kellogg at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Royce & Associates LP raised its position in WK Kellogg by 199.8% during the third quarter. Royce & Associates LP now owns 71,987 shares of the company’s stock valued at $1,232,000 after purchasing an additional 47,973 shares during the period. Seven Eight Capital LP purchased a new stake in WK Kellogg during the 2nd quarter valued at $577,000. Abundance Wealth Counselors bought a new stake in WK Kellogg in the second quarter worth $613,000. Atlas Financial Advisors Inc. purchased a new position in WK Kellogg during the third quarter worth $818,000. Finally, Acadian Asset Management LLC increased its position in WK Kellogg by 64,642.1% during the second quarter. Acadian Asset Management LLC now owns 73,806 shares of the company’s stock valued at $1,213,000 after acquiring an additional 73,692 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 acquired 65,000 shares of WK Kellogg stock in a transaction that occurred on Thursday, November 14th. The stock was bought at an average price of $17.76 per share, with a total value of $1,154,400.00. Following the completion of the purchase, the director now directly owns 195,000 shares of the company’s stock, valued at approximately $3,463,200. This represents a 50.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on KLG shares. Barclays raised their target price on shares of WK Kellogg from $16.00 to $19.00 and gave the stock an “underweight” rating in a report on Monday, November 11th. JPMorgan Chase & Co. dropped their target price on 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 equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $18.88.

WK Kellogg Stock Performance

WK Kellogg stock opened at $21.56 on Thursday. WK Kellogg Co has a fifty-two week low of $10.99 and a fifty-two week high of $24.63. The company has a market capitalization of $1.86 billion and a PE ratio of 27.64. The company has a 50 day moving average price of $17.63 and a 200-day moving average price of $17.69. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.34 and a current ratio of 0.78.

WK Kellogg (NYSE:KLG) last issued its earnings results on Thursday, November 7th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.05. The business had revenue of $689.00 million during 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%. The business’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.49 EPS. As a group, equities analysts forecast that WK Kellogg Co will post 1.49 earnings per share for the current year.

WK Kellogg Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.64 annualized dividend and a dividend yield of 2.97%. WK Kellogg’s dividend payout ratio is currently 82.05%.

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.