Cwm LLC Has $59,000 Position in WK Kellogg Co (NYSE:KLG)

Cwm LLC cut its position in WK Kellogg Co (NYSE:KLG) by 60.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 3,474 shares of the company’s stock after selling 5,325 shares during the quarter. Cwm LLC’s holdings in WK Kellogg were worth $59,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Seven Eight Capital LP acquired a new position in shares of WK Kellogg in the 2nd quarter valued at approximately $577,000. Abundance Wealth Counselors acquired a new position in WK Kellogg during the 2nd quarter worth approximately $613,000. Jupiter Asset Management Ltd. increased its position in WK Kellogg by 1,876.1% during the 1st quarter. Jupiter Asset Management Ltd. now owns 531,108 shares of the company’s stock worth $9,985,000 after purchasing an additional 504,232 shares in the last quarter. Acadian Asset Management LLC increased its position in WK Kellogg by 64,642.1% during the 2nd quarter. Acadian Asset Management LLC now owns 73,806 shares of the company’s stock worth $1,213,000 after purchasing an additional 73,692 shares in the last quarter. Finally, WINTON GROUP Ltd increased its position in WK Kellogg by 63.0% during the 2nd quarter. WINTON GROUP Ltd now owns 270,395 shares of the company’s stock worth $4,451,000 after purchasing an additional 104,533 shares in the last quarter. 95.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

KLG has been the subject of a number of research analyst reports. Stifel Nicolaus lowered their price objective on shares of WK Kellogg from $22.00 to $18.00 and set a “hold” rating for the company in a research report on Tuesday, July 23rd. Barclays lowered their price objective on shares of WK Kellogg from $19.00 to $16.00 and set an “underweight” rating for the company in a research report on Friday, July 19th. Bank of America cut shares of WK Kellogg from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $24.00 to $17.00 in a research report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of 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 analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $18.50.

WK Kellogg Trading Down 1.6 %

NYSE:KLG opened at $17.05 on Monday. The firm’s fifty day moving average is $17.57 and its 200-day moving average is $18.45. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.36 and a current ratio of 0.83. WK Kellogg Co has a 52 week low of $9.82 and a 52 week high of $24.63. The firm has a market cap of $1.46 billion and a P/E ratio of 12.18.

WK Kellogg (NYSE:KLG) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.06). WK Kellogg had a net margin of 4.45% and a return on equity of 42.12%. The firm had revenue of $672.00 million during the quarter, compared to the consensus estimate of $671.50 million. The firm’s quarterly revenue was down 4.0% on a year-over-year basis. Equities analysts expect that WK Kellogg Co will post 1.5 earnings per share for the current year.

WK Kellogg Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 29th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.75%. The ex-dividend date was Thursday, August 29th. WK Kellogg’s dividend payout ratio is presently 45.71%.

About WK Kellogg

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.