Royce & Associates LP Buys 47,973 Shares of WK Kellogg Co (NYSE:KLG)

Royce & Associates LP raised its holdings in shares of WK Kellogg Co (NYSE:KLG) by 199.8% during the third quarter, HoldingsChannel.com reports. The firm owned 71,987 shares of the company’s stock after buying an additional 47,973 shares during the period. Royce & Associates LP’s holdings in WK Kellogg were worth $1,232,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in KLG. AQR Capital Management LLC boosted its stake in WK Kellogg by 579.1% in the 2nd quarter. AQR Capital Management LLC now owns 1,403,854 shares of the company’s stock worth $23,107,000 after purchasing an additional 1,197,133 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of WK Kellogg by 9.3% during the second quarter. Bank of New York Mellon Corp now owns 904,699 shares of the company’s stock worth $14,891,000 after buying an additional 77,262 shares during the period. Jupiter Asset Management Ltd. lifted its stake in shares of WK Kellogg by 64.4% during the second quarter. Jupiter Asset Management Ltd. now owns 873,047 shares of the company’s stock worth $14,370,000 after buying an additional 341,939 shares during the period. Rodgers Brothers Inc. grew its holdings in shares of WK Kellogg by 2,253.3% during the first quarter. Rodgers Brothers Inc. now owns 623,468 shares of the company’s stock valued at $11,721,000 after buying an additional 596,975 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of WK Kellogg by 124.5% in the 2nd quarter. Renaissance Technologies LLC now owns 538,600 shares of the company’s stock valued at $8,865,000 after acquiring an additional 298,700 shares during the period. Institutional investors and hedge funds own 95.74% of the company’s stock.

Insider Buying and Selling

In related news, Director G Zachary Gund purchased 65,000 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was bought at an average price of $17.76 per share, with a total value of $1,154,400.00. Following the acquisition, the director now owns 195,000 shares in the company, valued at $3,463,200. The trade was a 50.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on KLG shares. Barclays boosted their price target on WK Kellogg from $16.00 to $19.00 and gave the company an “underweight” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. cut their price target on shares of WK Kellogg from $22.00 to $17.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Finally, Stifel Nicolaus dropped their price objective on shares of WK Kellogg from $22.00 to $18.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. Three analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $18.88.

WK Kellogg Trading Up 0.6 %

Shares of NYSE:KLG opened at $17.20 on Wednesday. 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 Co has a 12-month low of $10.99 and a 12-month high of $24.63. The business has a 50 day moving average of $17.50 and a two-hundred day moving average of $17.84. The company has a market capitalization of $1.48 billion and a PE ratio of 21.87.

WK Kellogg (NYSE:KLG) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.31 earnings per share (EPS) 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 firm had revenue of $689.00 million for the quarter, compared to the consensus estimate of $674.10 million. During the same period in the prior year, the firm posted $0.49 earnings per share. The firm’s quarterly revenue was down .4% compared to the same quarter last year. As a group, analysts forecast that WK Kellogg Co will post 1.49 EPS for the current year.

WK Kellogg Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.64 annualized dividend and a dividend yield of 3.72%. WK Kellogg’s dividend payout ratio is presently 82.05%.

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.