Public Employees Retirement System of Ohio Has $36,000 Holdings in WK Kellogg Co (NYSE:KLG)

Public Employees Retirement System of Ohio decreased its holdings in WK Kellogg Co (NYSE:KLG) by 24.9% during the third quarter, Holdings Channel.com reports. The firm owned 2,093 shares of the company’s stock after selling 693 shares during the period. Public Employees Retirement System of Ohio’s holdings in WK Kellogg were worth $36,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in KLG. Bank of New York Mellon Corp increased its stake in WK Kellogg by 9.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 904,699 shares of the company’s stock valued at $14,891,000 after buying an additional 77,262 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of WK Kellogg by 27.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,007 shares of the company’s stock worth $329,000 after acquiring an additional 4,354 shares during the last quarter. Panagora Asset Management Inc. purchased a new stake in shares of WK Kellogg during the second quarter worth $1,858,000. Rothschild Investment LLC acquired a new stake in WK Kellogg during the second quarter valued at $46,000. Finally, Versor Investments LP purchased a new position in WK Kellogg in the second quarter valued at about $314,000. 95.74% of the stock is owned by hedge funds and other institutional investors.

WK Kellogg Price Performance

NYSE:KLG opened at $17.92 on Monday. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of 22.97 and a beta of 0.07. The company has a 50-day moving average of $18.61 and a 200-day moving average of $17.72. WK Kellogg Co has a 52 week low of $12.28 and a 52 week high of $24.63. 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 announced its quarterly earnings results on Thursday, November 7th. The company reported $0.31 EPS for the quarter, beating the consensus estimate 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%. WK Kellogg’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.49 EPS. As a group, equities research analysts anticipate that WK Kellogg Co will post 1.49 earnings per share for the current fiscal year.

WK Kellogg Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were given a $0.16 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.64 annualized dividend and a yield of 3.57%. WK Kellogg’s payout ratio is 82.05%.

Insiders Place Their Bets

In related news, Director G Zachary Gund bought 65,000 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was bought at an average cost of $17.76 per share, with a total value of $1,154,400.00. Following the completion of the purchase, the director now owns 195,000 shares in the company, valued at approximately $3,463,200. The trade was a 50.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

Separately, Barclays lifted their price target on WK Kellogg from $16.00 to $19.00 and gave the company an “underweight” rating in a report on Monday, November 11th. Three investment analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. Based on data from MarketBeat.com, WK Kellogg presently has a consensus rating of “Hold” and an average price target of $19.71.

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.