WK Kellogg Co
About: WK Kellogg is the second-largest cereal manufacturer in North America. Its cereal brands include Special K, Frosted Flakes, Raisin Bran, Froot Loops, Frosted Mini Wheats, Kashi, Corn Flakes, Rice Krispies, Apple Jacks, and Bear Naked. The company was spun off from the former Kellogg business, now known as Kellanova, where the former firm's global snacks portfolio and international cereal brands are now housed. WK Kellogg, which began trading independently in October 2023, generates the bulk of its sales (about 88% of its fiscal 2023 base) from the US.
Employees: 3,150
Fund manager confidence
Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)
70% more call options, than puts
Call options by funds: $8.14M | Put options by funds: $4.78M
3.91% more ownership
Funds ownership: 80.27% [Q1] → 84.18% (+3.91%) [Q2]
2% less funds holding
Funds holding: 391 [Q1] → 382 (-9) [Q2]
8% less capital invested
Capital invested by funds: $1.29B [Q1] → $1.19B (-$105M) [Q2]
13% less first-time investments, than exits
New positions opened: 63 | Existing positions closed: 72
24% less repeat investments, than reductions
Existing positions increased: 90 | Existing positions reduced: 119
40% less funds holding in top 10
Funds holding in top 10: 5 [Q1] → 3 (-2) [Q2]
Research analyst outlook
3 Wall Street Analysts provided 1 year price targets over the past 3 months
3 analyst ratings
JP Morgan Ken Goldman 78% 1-year accuracy 7 / 9 met price target | 1%downside $17 | Neutral Maintained | 7 Aug 2024 |
Stifel Matthew Smith 69% 1-year accuracy 18 / 26 met price target | 5%upside $18 | Hold Maintained | 23 Jul 2024 |
Barclays Andrew Lazar 69% 1-year accuracy 9 / 13 met price target | 7%downside $16 | Underweight Maintained | 19 Jul 2024 |
Financial journalist opinion
Based on 3 articles about KLG published over the past 30 days