Thrivent Financial for Lutherans Trims Position in WK Kellogg Co (NYSE:KLG)

Thrivent Financial for Lutherans cut its stake in shares of WK Kellogg Co (NYSE:KLG) by 5.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,942 shares of the company’s stock after selling 2,952 shares during the period. Thrivent Financial for Lutherans’ holdings in WK Kellogg were worth $889,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Alpha Omega Wealth Management LLC raised its position in shares of WK Kellogg by 4.9% during the 3rd quarter. Alpha Omega Wealth Management LLC now owns 12,880 shares of the company’s stock valued at $220,000 after buying an additional 600 shares in the last quarter. GAMMA Investing LLC raised its position in WK Kellogg by 88.6% during the third quarter. GAMMA Investing LLC now owns 1,890 shares of the company’s stock valued at $32,000 after purchasing an additional 888 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in WK Kellogg by 15.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,638 shares of the company’s stock worth $276,000 after purchasing an additional 2,009 shares during the last quarter. Rothschild Investment LLC purchased a new position in shares of WK Kellogg in the 2nd quarter worth about $46,000. Finally, Nisa Investment Advisors LLC increased its position in shares of WK Kellogg by 65.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 8,802 shares of the company’s stock valued at $151,000 after purchasing an additional 3,471 shares during the last quarter. 95.74% of the stock is owned by hedge funds and other institutional investors.

WK Kellogg Price Performance

NYSE:KLG opened at $21.37 on Tuesday. The firm has a market capitalization of $1.84 billion and a price-to-earnings ratio of 27.39. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.78 and a quick ratio of 0.34. The business has a 50 day simple moving average of $17.82 and a 200-day simple moving average of $17.66. WK Kellogg Co has a 1 year low of $11.22 and a 1 year high of $24.63.

WK Kellogg (NYSE:KLG) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.05. The company 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%. WK Kellogg’s revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.49 EPS. Equities analysts forecast that WK Kellogg Co will post 1.49 EPS for the current year.

WK Kellogg Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date is Friday, November 29th. WK Kellogg’s dividend payout ratio (DPR) is currently 82.05%.

Wall Street Analyst Weigh In

KLG has been the topic of several recent research reports. Barclays increased their target price on shares of WK Kellogg from $16.00 to $19.00 and gave the company an “underweight” rating in a report on Monday, November 11th. JPMorgan Chase & Co. reduced their price objective on WK Kellogg from $22.00 to $17.00 and set a “neutral” rating on the stock in a research note 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’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $18.88.

Insider Activity at WK Kellogg

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

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.