A&I Financial Services LLC Makes New Investment in WK Kellogg Co (NYSE:KLG)

A&I Financial Services LLC acquired a new stake in WK Kellogg Co (NYSE:KLG - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 30,728 shares of the company's stock, valued at approximately $553,000. WK Kellogg accounts for 0.5% of A&I Financial Services LLC's holdings, making the stock its 29th biggest holding.

Several other large investors have also recently added to or reduced their stakes in the stock. Captrust Financial Advisors boosted its stake in shares of WK Kellogg by 12,352.1% during the 3rd quarter. Captrust Financial Advisors now owns 1,516,417 shares of the company's stock valued at $25,946,000 after buying an additional 1,504,239 shares during the period. Verition Fund Management LLC grew its stake in WK Kellogg by 563.8% in the third quarter. Verition Fund Management LLC now owns 333,321 shares of the company's stock valued at $5,703,000 after purchasing an additional 283,104 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in WK Kellogg by 31.1% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,124,503 shares of the company's stock worth $19,240,000 after purchasing an additional 266,877 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its stake in shares of WK Kellogg by 72.3% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 542,570 shares of the company's stock worth $9,283,000 after purchasing an additional 227,730 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of WK Kellogg by 24.3% during the 4th quarter. Bank of New York Mellon Corp now owns 1,056,802 shares of the company's stock valued at $19,012,000 after buying an additional 206,320 shares during the last quarter. Institutional investors and hedge funds own 95.74% of the company's stock.

WK Kellogg Stock Performance

Shares of NYSE KLG traded down $0.40 during trading hours on Monday, hitting $19.42. 821,752 shares of the company's stock were exchanged, compared to its average volume of 1,161,439. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of 23.98, a PEG ratio of 2.01 and a beta of 0.70. The company's 50-day moving average price is $17.57 and its 200-day moving average price is $17.93. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.74 and a quick ratio of 0.32. WK Kellogg Co has a 1-year low of $14.37 and a 1-year high of $24.63.

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

WK Kellogg Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.165 per share. This is an increase from WK Kellogg's previous quarterly dividend of $0.16. The ex-dividend date is Friday, February 28th. This represents a $0.66 annualized dividend and a dividend yield of 3.40%. WK Kellogg's payout ratio is presently 81.48%.

Analysts Set New Price Targets

A number of research firms have issued reports on KLG. TD Cowen cut shares of WK Kellogg from a "hold" rating to a "sell" rating and reduced their target price for the company from $18.00 to $16.00 in a research note on Wednesday, January 8th. Jefferies Financial Group reduced 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, January 28th. Stifel Nicolaus lowered their price objective on WK Kellogg from $19.00 to $18.00 and set a "hold" rating on the stock in a report on Friday, January 24th. Finally, Barclays reduced their target price on WK Kellogg from $19.00 to $16.00 and set an "underweight" rating for the company in a report on Friday, January 17th. Four research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat, WK Kellogg presently has an average rating of "Hold" and a consensus price target 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.