23,102 Shares in WK Kellogg Co (NYSE:KLG) Acquired by XTX Topco Ltd

XTX Topco Ltd bought a new stake in WK Kellogg Co (NYSE:KLG - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 23,102 shares of the company's stock, valued at approximately $416,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Jupiter Asset Management Ltd. increased its holdings in shares of WK Kellogg by 172.9% during the fourth quarter. Jupiter Asset Management Ltd. now owns 2,494,881 shares of the company's stock valued at $44,883,000 after purchasing an additional 1,580,704 shares during the period. Wellington Management Group LLP bought a new stake in shares of WK Kellogg during the 4th quarter worth about $14,737,000. LSV Asset Management raised its position in shares of WK Kellogg by 572.9% during the 4th quarter. LSV Asset Management now owns 798,571 shares of the company's stock worth $14,366,000 after buying an additional 679,888 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of WK Kellogg by 1,217.5% in the 4th quarter. Victory Capital Management Inc. now owns 233,997 shares of the company's stock worth $4,210,000 after acquiring an additional 216,236 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of WK Kellogg by 24.3% in the fourth quarter. Bank of New York Mellon Corp now owns 1,056,802 shares of the company's stock valued at $19,012,000 after acquiring an additional 206,320 shares in the last quarter. Institutional investors own 95.74% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on KLG shares. TD Cowen cut WK Kellogg from a "hold" rating to a "sell" rating and dropped their target price for the stock from $18.00 to $16.00 in a report on Wednesday, January 8th. Stifel Nicolaus cut their price objective on WK Kellogg from $19.00 to $18.00 and set a "hold" rating for the company in a report on Friday, January 24th. Barclays decreased their target price 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. Jefferies Financial Group dropped their price target on shares of WK Kellogg from $19.00 to $16.00 and set a "hold" rating on the stock in a research report on Tuesday, January 28th. Finally, Morgan Stanley assumed coverage on shares of WK Kellogg in a research note on Monday, March 24th. They issued an "underweight" rating and a $18.00 price objective on the stock. Five investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Reduce" and an average target price of $17.89.

WK Kellogg Price Performance

KLG stock opened at $18.84 on Tuesday. WK Kellogg Co has a one year low of $15.17 and a one year high of $24.63. The firm has a 50-day moving average of $19.46 and a two-hundred day moving average of $18.41. The firm has a market capitalization of $1.62 billion, a PE ratio of 23.26, a P/E/G ratio of 2.01 and a beta of 0.39. The company has a current ratio of 0.74, a quick ratio of 0.32 and a debt-to-equity ratio of 1.45.

WK Kellogg (NYSE:KLG - Get Free Report) last posted its quarterly earnings data on Tuesday, February 11th. The company reported $0.42 EPS for the quarter, topping analysts' consensus estimates of $0.28 by $0.14. WK Kellogg had a net margin of 2.66% and a return on equity of 39.81%. On average, analysts forecast that WK Kellogg Co will post 1.57 earnings per share for the current year.

WK Kellogg Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 3.50%. This is a positive change from WK Kellogg's previous quarterly dividend of $0.16. The ex-dividend date was Friday, February 28th. WK Kellogg's payout ratio is presently 81.48%.

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.

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