Landscape Capital Management L.L.C. Purchases Shares of 88,074 WK Kellogg Co (NYSE:KLG)

Landscape Capital Management L.L.C. bought a new position in WK Kellogg Co (NYSE:KLG) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 88,074 shares of the company’s stock, valued at approximately $1,507,000.

Other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in shares of WK Kellogg by 88.6% during the third quarter. GAMMA Investing LLC now owns 1,890 shares of the company’s stock worth $32,000 after acquiring an additional 888 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in WK Kellogg during the first quarter valued at approximately $42,000. Rothschild Investment LLC acquired a new stake in shares of WK Kellogg during the 2nd quarter worth about $46,000. Abich Financial Wealth Management LLC raised its position in WK Kellogg by 3,575.4% in the 3rd quarter. Abich Financial Wealth Management LLC now owns 4,484 shares of the company’s stock valued at $77,000 after purchasing an additional 4,362 shares during the last quarter. Finally, International Assets Investment Management LLC grew its holdings in WK Kellogg by 1,724.1% during the 3rd 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 during the last quarter. Hedge funds and other institutional investors own 95.74% of the company’s stock.

Insider Activity at WK Kellogg

In other WK Kellogg news, Director G Zachary Gund purchased 65,000 shares of WK Kellogg stock in a transaction on Thursday, November 14th. The shares were acquired at an average cost of $17.76 per share, for a total transaction of $1,154,400.00. Following the completion of the transaction, the director now directly owns 195,000 shares of the company’s stock, valued at approximately $3,463,200. The trade was a 50.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 0.90% of the stock is owned by corporate insiders.

WK Kellogg Trading Up 4.9 %

Shares of WK Kellogg stock opened at $17.94 on Friday. WK Kellogg Co has a 12-month low of $10.99 and a 12-month high of $24.63. The company has a market capitalization of $1.54 billion and a P/E ratio of 22.99. The stock has a fifty day simple moving average of $17.46 and a 200 day simple moving average of $17.79. 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 posted its quarterly earnings data 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 business had revenue of $689.00 million during the quarter, compared to the consensus estimate of $674.10 million. During the same quarter last year, the company posted $0.49 earnings per share. The firm’s quarterly revenue was down .4% compared to the same quarter last year. On average, sell-side analysts anticipate 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 will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date of this dividend is Friday, November 29th. WK Kellogg’s payout ratio is 82.05%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Barclays boosted their target price on WK Kellogg from $16.00 to $19.00 and gave the stock an “underweight” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. decreased their target price on shares of WK Kellogg from $22.00 to $17.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Three analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat.com, WK Kellogg presently has an average rating of “Hold” and an average target price of $18.88.

WK Kellogg 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.