Impact Partnership Wealth LLC Trims Holdings in WK Kellogg Co (NYSE:KLG)

Impact Partnership Wealth LLC reduced its holdings in shares of WK Kellogg Co (NYSE:KLG) by 39.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 15,589 shares of the company’s stock after selling 10,112 shares during the period. Impact Partnership Wealth LLC’s holdings in WK Kellogg were worth $280,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of KLG. Captrust Financial Advisors raised its stake in WK Kellogg by 12,352.1% during the 3rd quarter. Captrust Financial Advisors now owns 1,516,417 shares of the company’s stock valued at $25,946,000 after acquiring an additional 1,504,239 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of WK Kellogg by 579.1% in the second quarter. AQR Capital Management LLC now owns 1,403,854 shares of the company’s stock valued at $23,107,000 after purchasing an additional 1,197,133 shares during the period. Verition Fund Management LLC raised its stake in shares of WK Kellogg by 563.8% during the third quarter. Verition Fund Management LLC now owns 333,321 shares of the company’s stock worth $5,703,000 after purchasing an additional 283,104 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of WK Kellogg by 31.1% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,124,503 shares of the company’s stock worth $19,240,000 after purchasing an additional 266,877 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC grew its position in WK Kellogg by 72.3% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 542,570 shares of the company’s stock valued at $9,283,000 after buying an additional 227,730 shares during the last quarter. 95.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on KLG shares. Stifel Nicolaus reduced their target price on shares of WK Kellogg from $19.00 to $18.00 and set a “hold” rating for the company in a research note on Friday. TD Cowen downgraded shares of WK Kellogg from a “hold” rating to a “sell” rating and reduced their price objective for the company from $18.00 to $16.00 in a research report on Wednesday, January 8th. Finally, Barclays dropped their target price on WK Kellogg from $19.00 to $16.00 and set an “underweight” rating on the stock in a research report on Friday, January 17th. Four research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $18.14.

Insider Activity at WK Kellogg

In related news, Director G Zachary Gund bought 65,000 shares of the stock in a transaction on Thursday, November 14th. The shares were purchased at an average price of $17.76 per share, for a total transaction of $1,154,400.00. Following the acquisition, the director now owns 195,000 shares in the company, valued at $3,463,200. This represents a 50.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.90% of the stock is owned by corporate insiders.

WK Kellogg Stock Down 0.1 %

KLG stock opened at $16.95 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.34 and a debt-to-equity ratio of 1.49. The company’s 50-day moving average price is $18.42 and its 200 day moving average price is $17.66. WK Kellogg Co has a 52 week low of $12.32 and a 52 week high of $24.63. The company has a market cap of $1.46 billion, a P/E ratio of 21.73 and a beta of 0.72.

WK Kellogg (NYSE:KLG) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.26 by $0.05. WK Kellogg had a return on equity of 33.41% and a net margin of 2.50%. The business had revenue of $689.00 million for the quarter, compared to analyst estimates of $674.10 million. During the same quarter in the previous year, the company earned $0.49 EPS. The company’s quarterly revenue was down .4% on a year-over-year basis. On average, research analysts expect that WK Kellogg Co will post 1.49 earnings per share for the current fiscal year.

WK Kellogg Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date was Friday, November 29th. WK Kellogg’s dividend payout ratio is currently 82.05%.

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.