Curi RMB Capital LLC Cuts Stock Position in WK Kellogg Co (NYSE:KLG)

Curi RMB Capital LLC decreased its position in shares of WK Kellogg Co (NYSE:KLG) by 79.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,900 shares of the company’s stock after selling 63,100 shares during the period. Curi RMB Capital LLC’s holdings in WK Kellogg were worth $272,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of KLG. AQR Capital Management LLC increased its position in shares of WK Kellogg by 579.1% during the second 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. Rodgers Brothers Inc. raised its stake in WK Kellogg by 2,253.3% in 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. Jacobs Levy Equity Management Inc. purchased a new stake in WK Kellogg in the first quarter valued at about $8,998,000. Jupiter Asset Management Ltd. boosted its holdings in WK Kellogg by 64.4% in the second quarter. Jupiter Asset Management Ltd. now owns 873,047 shares of the company’s stock worth $14,370,000 after acquiring an additional 341,939 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of WK Kellogg by 124.5% during the second quarter. Renaissance Technologies LLC now owns 538,600 shares of the company’s stock worth $8,865,000 after acquiring an additional 298,700 shares during the last quarter. 95.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

KLG has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lowered 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. 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 note on Tuesday, July 23rd. Finally, Barclays boosted their price objective 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 research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat.com, WK Kellogg currently has an average rating of “Hold” and a consensus price target of $18.88.

Insider Transactions at WK Kellogg

In other news, Director G Zachary Gund purchased 65,000 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were purchased at an average cost of $17.76 per share, with a total value of $1,154,400.00. Following the completion of the acquisition, the director now owns 195,000 shares of the company’s stock, valued at approximately $3,463,200. This represents a 50.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.90% of the company’s stock.

WK Kellogg Stock Up 0.3 %

NYSE:KLG opened at $17.23 on Friday. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.78 and a quick ratio of 0.34. The company’s fifty day moving average price is $17.52 and its 200-day moving average price is $17.96. WK Kellogg Co has a 1-year low of $10.83 and a 1-year high of $24.63. The firm has a market capitalization of $1.48 billion and a P/E ratio of 22.09.

WK Kellogg (NYSE:KLG) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $674.10 million. During the same quarter last year, the business posted $0.49 EPS. The company’s revenue was down .4% on a year-over-year basis. As a group, equities research analysts anticipate that WK Kellogg Co will post 1.49 EPS for the current year.

WK Kellogg Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a $0.16 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.64 annualized dividend and a yield of 3.71%. WK Kellogg’s dividend payout ratio is presently 82.05%.

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.