KBC Group NV Reduces Stock Holdings in WK Kellogg Co (NYSE:KLG)

KBC Group NV lessened its stake in WK Kellogg Co (NYSE:KLG) by 1.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 42,978 shares of the company’s stock after selling 781 shares during the quarter. KBC Group NV’s holdings in WK Kellogg were worth $735,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in shares of WK Kellogg by 88.6% in 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 during the period. EntryPoint Capital LLC purchased a new position in WK Kellogg in the 1st quarter valued at about $42,000. Rothschild Investment LLC acquired a new stake in shares of WK Kellogg during the second quarter valued at about $46,000. Abich Financial Wealth Management LLC increased its position in shares of WK Kellogg by 3,575.4% during the third quarter. Abich Financial Wealth Management LLC now owns 4,484 shares of the company’s stock worth $77,000 after acquiring an additional 4,362 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in shares of WK Kellogg by 1,724.1% in the third quarter. International Assets Investment Management LLC now owns 4,688 shares of the company’s stock worth $80,000 after acquiring an additional 4,431 shares in the last quarter. Institutional investors and hedge funds own 95.74% of the company’s stock.

WK Kellogg Stock Performance

KLG stock opened at $17.10 on Tuesday. The stock’s 50 day simple moving average is $17.52 and its 200 day simple moving average is $17.88. WK Kellogg Co has a 12-month low of $10.99 and a 12-month high of $24.63. The firm has a market cap of $1.47 billion and a P/E ratio of 21.92. The company has a current ratio of 0.78, a quick ratio of 0.34 and a debt-to-equity ratio of 1.49.

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 analysts’ consensus estimates of $0.26 by $0.05. WK Kellogg had a net margin of 2.50% and a return on equity of 33.41%. The company had revenue of $689.00 million for the quarter, compared to analysts’ expectations of $674.10 million. During the same period in the prior year, the company earned $0.49 earnings per share. The firm’s revenue was down .4% compared to the same quarter last year. As a group, equities research analysts predict that WK Kellogg Co will post 1.49 EPS for the current year.

WK Kellogg Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a $0.16 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.64 dividend on an annualized basis and a yield of 3.74%. WK Kellogg’s dividend payout ratio is currently 82.05%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on KLG shares. JPMorgan Chase & Co. lowered their price objective on WK Kellogg from $22.00 to $17.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Stifel Nicolaus decreased their price target 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. Finally, Barclays upped their price target 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. Three equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $18.88.

Insider Buying and Selling at WK Kellogg

In related 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 acquired at an average price of $17.76 per share, for a total transaction of $1,154,400.00. Following the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.90% of the stock is currently owned by insiders.

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.