MetLife Investment Management LLC Purchases 21,559 Shares of WK Kellogg Co (NYSE:KLG)

MetLife Investment Management LLC lifted its position in shares of WK Kellogg Co (NYSE:KLG) by 129.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 38,262 shares of the company’s stock after acquiring an additional 21,559 shares during the period. MetLife Investment Management LLC’s holdings in WK Kellogg were worth $655,000 as of its most recent SEC filing.

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

Insider Activity

In other WK Kellogg news, Director G Zachary Gund bought 65,000 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was acquired at an average price of $17.94 per share, with a total value of $1,166,100.00. Following the transaction, the director now owns 65,000 shares in the company, valued at $1,166,100. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.90% of the company’s stock.

WK Kellogg Stock Down 1.6 %

NYSE:KLG opened at $20.38 on Friday. 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 market cap of $1.76 billion, a P/E ratio of 26.13 and a beta of 0.07. WK Kellogg Co has a fifty-two week low of $11.37 and a fifty-two week high of $24.63. The firm has a 50-day simple moving average of $18.07 and a two-hundred day simple moving average of $17.68.

WK Kellogg (NYSE:KLG) last announced its quarterly earnings results 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 company had revenue of $689.00 million during the quarter, compared to the consensus estimate of $674.10 million. WK Kellogg had a net margin of 2.50% and a return on equity of 33.41%. The firm’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.49 earnings per share. Analysts predict that WK Kellogg Co will post 1.49 earnings per share 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. Stockholders of record on Friday, November 29th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend is Friday, November 29th. WK Kellogg’s payout ratio is currently 82.05%.

Wall Street Analysts Forecast Growth

Separately, Barclays raised their target price on shares of 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 five have given a hold rating to the stock. Based on data from MarketBeat, WK Kellogg presently has a consensus rating of “Hold” and a consensus price target of $18.88.

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.