Hussman Strategic Advisors Inc. Purchases New Shares in WK Kellogg Co (NYSE:KLG)

Hussman Strategic Advisors Inc. acquired a new stake in shares of WK Kellogg Co (NYSE:KLG - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 126,000 shares of the company's stock, valued at approximately $2,267,000. Hussman Strategic Advisors Inc. owned about 0.15% of WK Kellogg at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Captrust Financial Advisors raised its stake in WK Kellogg by 12,352.1% in the third 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 last quarter. Verition Fund Management LLC boosted its stake in WK Kellogg by 563.8% in the 3rd 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. grew its position in WK Kellogg by 31.1% during 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 grew its position in 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 during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in WK Kellogg by 69.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 313,182 shares of the company's stock valued at $5,359,000 after purchasing an additional 127,984 shares in the last quarter. Institutional investors and hedge funds own 95.74% of the company's stock.

WK Kellogg Stock Performance

WK Kellogg stock traded up $0.20 during midday trading on Friday, hitting $20.00. 760,682 shares of the company were exchanged, compared to its average volume of 1,201,470. The business has a fifty day simple moving average of $17.49 and a two-hundred day simple moving average of $17.78. 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 firm has a market capitalization of $1.72 billion, a PE ratio of 24.69, a price-to-earnings-growth ratio of 2.02 and a beta of 0.70. WK Kellogg Co has a fifty-two week low of $14.36 and a fifty-two week high of $24.63.

WK Kellogg (NYSE:KLG - Get Free Report) last issued 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, sell-side analysts forecast that WK Kellogg Co will post 1.57 earnings per share for the current year.

WK Kellogg Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a $0.165 dividend. This is a boost from WK Kellogg's previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.66 dividend on an annualized basis and a yield of 3.30%. WK Kellogg's payout ratio is presently 79.01%.

Analyst Upgrades and Downgrades

KLG has been the subject of several research reports. Barclays lowered 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. TD Cowen downgraded WK Kellogg from a "hold" rating to a "sell" rating and dropped their price target for the company from $18.00 to $16.00 in a research note on Wednesday, January 8th. Jefferies Financial Group cut their price objective on WK Kellogg from $19.00 to $16.00 and set a "hold" rating on the stock in a report on Tuesday, January 28th. Finally, Stifel Nicolaus decreased 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. Four analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat, the stock presently 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.