Factorial Partners LLC Cuts Stock Position in WK Kellogg Co (NYSE:KLG)

Factorial Partners LLC reduced its stake in shares of WK Kellogg Co (NYSE:KLG - Free Report) by 23.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 230,000 shares of the company's stock after selling 70,000 shares during the quarter. WK Kellogg makes up approximately 2.4% of Factorial Partners LLC's investment portfolio, making the stock its 13th largest position. Factorial Partners LLC owned approximately 0.27% of WK Kellogg worth $4,138,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Truist Financial Corp boosted its position in WK Kellogg by 2.2% in the 4th quarter. Truist Financial Corp now owns 39,658 shares of the company's stock valued at $713,000 after buying an additional 838 shares during the period. GAMMA Investing LLC raised its holdings in shares of WK Kellogg by 49.4% in the fourth quarter. GAMMA Investing LLC now owns 2,823 shares of the company's stock valued at $51,000 after acquiring an additional 933 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in WK Kellogg by 13.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 16,818 shares of the company's stock worth $303,000 after acquiring an additional 1,955 shares during the period. Spire Wealth Management bought a new position in WK Kellogg during the 4th quarter worth about $56,000. Finally, Inlet Private Wealth LLC grew its holdings in WK Kellogg by 1.0% during the 4th quarter. Inlet Private Wealth LLC now owns 324,040 shares of the company's stock worth $5,829,000 after acquiring an additional 3,200 shares in the last quarter. 95.74% of the stock is currently owned by institutional investors.

WK Kellogg Stock Performance

WK Kellogg stock traded down $0.18 during mid-day trading on Monday, reaching $19.64. 398,566 shares of the company traded hands, compared to its average volume of 1,150,293. WK Kellogg Co has a fifty-two week low of $14.37 and a fifty-two week high of $24.63. The firm's fifty day moving average is $17.57 and its two-hundred day moving average 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. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of 24.25, a price-to-earnings-growth ratio of 2.01 and a beta of 0.70.

WK Kellogg (NYSE:KLG - Get Free Report) last issued its earnings results on Tuesday, February 11th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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, equities research analysts expect that WK Kellogg Co will post 1.57 earnings per share for the current fiscal year.

WK Kellogg Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a dividend of $0.165 per share. The ex-dividend date of this dividend is Friday, February 28th. This is a positive change from WK Kellogg's previous quarterly dividend of $0.16. This represents a $0.66 dividend on an annualized basis and a yield of 3.36%. WK Kellogg's dividend payout ratio (DPR) is currently 81.48%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on KLG. Barclays lowered 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 report on Friday, January 17th. Stifel Nicolaus lowered their target price on WK Kellogg from $19.00 to $18.00 and set a "hold" rating for the company in a report on Friday, January 24th. TD Cowen downgraded WK Kellogg from a "hold" rating to a "sell" rating and cut their price target for the company from $18.00 to $16.00 in a report on Wednesday, January 8th. Finally, Jefferies Financial Group decreased their price objective on WK Kellogg from $19.00 to $16.00 and set a "hold" rating for the company in a research note on Tuesday, January 28th. Four analysts have rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $17.88.

About WK Kellogg

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.