Captrust Financial Advisors Has $25.95 Million Stock Holdings in WK Kellogg Co (NYSE:KLG)

Captrust Financial Advisors increased its holdings in shares of WK Kellogg Co (NYSE:KLG) by 12,352.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,516,417 shares of the company’s stock after acquiring an additional 1,504,239 shares during the period. Captrust Financial Advisors’ holdings in WK Kellogg were worth $25,946,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in WK Kellogg by 6.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 305,058 shares of the company’s stock worth $5,220,000 after purchasing an additional 18,016 shares during the period. MetLife Investment Management LLC raised its holdings in shares of WK Kellogg by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 38,262 shares of the company’s stock worth $655,000 after buying an additional 21,559 shares in the last quarter. D.A. Davidson & CO. lifted its position in shares of WK Kellogg by 10.9% during the 3rd quarter. D.A. Davidson & CO. now owns 123,684 shares of the company’s stock worth $2,116,000 after buying an additional 12,113 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in WK Kellogg by 7.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,112,558 shares of the company’s stock valued at $19,036,000 after buying an additional 79,808 shares in the last quarter. Finally, Landscape Capital Management L.L.C. bought a new stake in WK Kellogg in the third quarter valued at $1,507,000. 95.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on KLG shares. JPMorgan Chase & Co. cut their price objective on WK Kellogg from $22.00 to $17.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Barclays lifted 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 analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat, WK Kellogg presently has a consensus rating of “Hold” and a consensus target price of $18.88.

Insider Buying and Selling at WK Kellogg

In other news, Director G Zachary Gund purchased 65,000 shares of the business’s stock in a transaction dated Thursday, November 14th. The shares were acquired at an average price of $17.76 per share, with a total value of $1,154,400.00. Following the completion of the purchase, the director now directly owns 195,000 shares of the company’s stock, valued at $3,463,200. The trade was a 50.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.90% of the company’s stock.

WK Kellogg Stock Performance

WK Kellogg stock opened at $20.80 on Friday. The stock has a 50-day simple moving average of $17.74 and a 200 day simple moving average of $17.71. The stock has a market capitalization of $1.79 billion and a price-to-earnings ratio of 26.67. The company has a quick ratio of 0.34, a current ratio of 0.78 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.

WK Kellogg (NYSE:KLG) last announced 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 during the quarter, compared to the consensus estimate of $674.10 million. During the same period in the previous year, the firm posted $0.49 earnings per share. The company’s revenue was down .4% on a year-over-year basis. On average, research analysts anticipate that WK Kellogg Co will post 1.49 earnings per share for the current fiscal year.

WK Kellogg Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend is Friday, November 29th. WK Kellogg’s dividend payout ratio is 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.