Impact Partnership Wealth LLC Invests $440,000 in WK Kellogg Co (NYSE:KLG)

Impact Partnership Wealth LLC acquired a new position in shares of WK Kellogg Co (NYSE:KLG) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 25,701 shares of the company’s stock, valued at approximately $440,000.

Several other institutional investors have also recently added to or reduced their stakes in KLG. GAMMA Investing LLC boosted its position 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 buying an additional 888 shares during the period. EntryPoint Capital LLC purchased a new position in WK Kellogg during the 1st quarter valued at about $42,000. Rothschild Investment LLC acquired a new position in WK Kellogg in the 2nd quarter valued at about $46,000. Fisher Asset Management LLC acquired a new position in WK Kellogg in the 4th quarter valued at about $55,000. Finally, International Assets Investment Management LLC increased its stake in WK Kellogg by 1,724.1% during the third quarter. International Assets Investment Management LLC now owns 4,688 shares of the company’s stock worth $80,000 after purchasing an additional 4,431 shares during the period. Institutional investors and hedge funds own 95.74% of the company’s stock.

Analyst Ratings Changes

KLG has been the subject of a number of research reports. Bank of America cut shares of WK Kellogg from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $24.00 to $17.00 in a report on Wednesday, July 10th. Barclays dropped their price target on shares of WK Kellogg from $19.00 to $16.00 and set an “underweight” rating for the company in a research note on Friday, July 19th. JPMorgan Chase & Co. reduced their price objective on WK Kellogg from $22.00 to $17.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Finally, Stifel Nicolaus lowered their target price on WK Kellogg from $22.00 to $18.00 and set a “hold” rating for the company in a research note on Tuesday, July 23rd. Three analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $18.50.

WK Kellogg Stock Up 0.5 %

NYSE KLG traded up $0.09 during trading on Thursday, reaching $17.50. 9,266 shares of the company’s stock were exchanged, compared to its average volume of 1,039,746. The company has a 50 day moving average price of $17.55 and a two-hundred day moving average price of $18.50. The stock has a market cap of $1.50 billion and a P/E ratio of 12.44. WK Kellogg Co has a 1 year low of $9.82 and a 1 year high of $24.63. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.36 and a current ratio of 0.83.

WK Kellogg (NYSE:KLG) last posted its earnings results on Tuesday, August 6th. The company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.06). The business had revenue of $672.00 million for the quarter, compared to analysts’ expectations of $671.50 million. WK Kellogg had a return on equity of 42.12% and a net margin of 4.45%. The business’s revenue for the quarter was down 4.0% compared to the same quarter last year. On average, equities research analysts anticipate that WK Kellogg Co will post 1.5 EPS for the current fiscal year.

WK Kellogg Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 29th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date of this dividend was Thursday, August 29th. WK Kellogg’s dividend payout ratio (DPR) is 45.71%.

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.