Inlet Private Wealth LLC Grows Stock Holdings in WK Kellogg Co (NYSE:KLG)

Inlet Private Wealth LLC lifted its stake in WK Kellogg Co (NYSE:KLG) by 1.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 324,040 shares of the company’s stock after acquiring an additional 3,200 shares during the period. WK Kellogg makes up about 1.5% of Inlet Private Wealth LLC’s holdings, making the stock its 20th largest holding. Inlet Private Wealth LLC owned 0.38% of WK Kellogg worth $5,829,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in KLG. GAMMA Investing LLC boosted its position in shares of WK Kellogg by 88.6% in the third quarter. GAMMA Investing LLC now owns 1,890 shares of the company’s stock valued at $32,000 after acquiring an additional 888 shares during the period. Abich Financial Wealth Management LLC boosted its holdings in shares of 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 worth $77,000 after purchasing an additional 4,362 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of WK Kellogg by 1,724.1% in the 3rd quarter. International Assets Investment Management LLC now owns 4,688 shares of the company’s stock valued at $80,000 after purchasing an additional 4,431 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of WK Kellogg in the 3rd quarter valued at about $99,000. Finally, Nisa Investment Advisors LLC boosted its stake in shares of WK Kellogg by 65.1% during the third quarter. Nisa Investment Advisors LLC now owns 8,802 shares of the company’s stock valued at $151,000 after purchasing an additional 3,471 shares during the period. 95.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other WK Kellogg news, Director G Zachary Gund bought 65,000 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were purchased at an average cost of $17.76 per share, for a total transaction of $1,154,400.00. Following the transaction, the director now owns 195,000 shares of the company’s stock, valued at $3,463,200. This represents a 50.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.90% of the company’s stock.

WK Kellogg Price Performance

Shares of WK Kellogg stock opened at $16.59 on Friday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.34 and a current ratio of 0.78. The stock’s fifty day moving average is $18.39 and its 200 day moving average is $17.69. The stock has a market cap of $1.43 billion, a P/E ratio of 21.27 and a beta of 0.72. WK Kellogg Co has a one year low of $12.32 and a one year high of $24.63.

WK Kellogg (NYSE:KLG) last released its earnings results 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 net margin of 2.50% and a return on equity of 33.41%. The company had revenue of $689.00 million for the quarter, compared to analysts’ expectations of $674.10 million. During the same quarter in the previous year, the company earned $0.49 EPS. WK Kellogg’s revenue for the quarter was down .4% on a year-over-year basis. Sell-side analysts anticipate that WK Kellogg Co will post 1.48 earnings per share for the current year.

Analysts Set New Price Targets

KLG has been the subject of a number of recent analyst reports. Jefferies Financial Group lowered their price target on WK Kellogg from $19.00 to $16.00 and set a “hold” rating for the company in a research report on Tuesday. TD Cowen cut WK Kellogg from a “hold” rating to a “sell” rating and dropped their price target for the stock from $18.00 to $16.00 in a research report on Wednesday, January 8th. Stifel Nicolaus reduced their price objective 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, January 24th. Finally, Barclays decreased their price target on WK Kellogg from $19.00 to $16.00 and set an “underweight” rating for the company in a research note on Friday, January 17th. Four research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $17.88.

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.