WK Kellogg Co (NYSE:KLG) Shares Sold by Factorial Partners LLC

Factorial Partners LLC lowered its stake in WK Kellogg Co (NYSE:KLG - Free Report) by 23.3% during the fourth quarter, according to the company in 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 period. WK Kellogg makes up approximately 2.4% of Factorial Partners LLC's portfolio, making the stock its 13th biggest holding. Factorial Partners LLC owned about 0.27% of WK Kellogg worth $4,138,000 at the end of the most recent reporting period.

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

WK Kellogg Price Performance

NYSE KLG traded up $0.12 during trading hours on Wednesday, reaching $19.12. The company's stock had a trading volume of 595,295 shares, compared to its average volume of 1,145,498. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.32 and a current ratio of 0.74. The company's 50-day moving average is $17.62 and its two-hundred day moving average is $17.97. WK Kellogg Co has a fifty-two week low of $14.37 and a fifty-two week high of $24.63. The stock has a market cap of $1.65 billion, a PE ratio of 23.60, a PEG ratio of 2.01 and a beta of 0.70.

WK Kellogg (NYSE:KLG - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.28 by $0.14. WK Kellogg had a net margin of 2.66% and a return on equity of 39.81%. Analysts forecast that WK Kellogg Co will post 1.57 EPS for the current year.

WK Kellogg Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.45%. This is a boost from WK Kellogg's previous quarterly dividend of $0.16. The ex-dividend date is Friday, February 28th. WK Kellogg's payout ratio is 81.48%.

Analysts Set New Price Targets

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