Keeley Teton Advisors LLC Boosts Stake in WK Kellogg Co (NYSE:KLG)

Keeley Teton Advisors LLC boosted its holdings in WK Kellogg Co (NYSE:KLG - Free Report) by 15.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 454,346 shares of the company's stock after buying an additional 60,652 shares during the quarter. WK Kellogg accounts for approximately 0.9% of Keeley Teton Advisors LLC's holdings, making the stock its 13th biggest position. Keeley Teton Advisors LLC owned approximately 0.53% of WK Kellogg worth $8,174,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Jupiter Asset Management Ltd. grew its position in WK Kellogg by 172.9% in the 4th quarter. Jupiter Asset Management Ltd. now owns 2,494,881 shares of the company's stock worth $44,883,000 after purchasing an additional 1,580,704 shares during the period. Wellington Management Group LLP bought a new position in WK Kellogg in the fourth quarter valued at about $14,737,000. LSV Asset Management grew its stake 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 valued at $14,366,000 after purchasing an additional 679,888 shares during the period. Victory Capital Management Inc. increased its position in shares of WK Kellogg by 1,217.5% during the 4th quarter. Victory Capital Management Inc. now owns 233,997 shares of the company's stock valued at $4,210,000 after purchasing an additional 216,236 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of WK Kellogg by 24.3% in 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. 95.74% of the stock is currently owned by institutional investors.

WK Kellogg Trading Up 3.3 %

Shares of KLG stock traded up $0.63 during trading hours on Friday, reaching $19.52. 426,709 shares of the stock were exchanged, compared to its average volume of 1,003,933. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 24.09, a price-to-earnings-growth ratio of 2.01 and a beta of 0.39. WK Kellogg Co has a 12-month low of $15.17 and a 12-month high of $24.63. The company's 50-day moving average price is $19.39 and its 200-day moving average price is $18.36. 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 announced its earnings results on Tuesday, February 11th. The company reported $0.42 earnings per share (EPS) 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%. As a group, equities analysts anticipate that WK Kellogg Co will post 1.57 earnings per share for the current year.

WK Kellogg Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 3.38%. This is a boost from WK Kellogg's previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Friday, February 28th. WK Kellogg's payout ratio is 81.48%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Morgan Stanley initiated coverage on shares of WK Kellogg in a research report on Monday, March 24th. They issued an "underweight" rating and a $18.00 price target on the stock. Barclays reduced their target price on shares of WK Kellogg from $19.00 to $16.00 and set an "underweight" rating for the company in a report on Friday, January 17th. TD Cowen lowered shares of WK Kellogg from a "hold" rating to a "sell" rating and dropped their price target for the stock from $18.00 to $16.00 in a research report on Wednesday, January 8th. Stifel Nicolaus reduced their price objective on shares of WK Kellogg from $19.00 to $18.00 and set a "hold" rating on the stock in a research report on Friday, January 24th. Finally, Jefferies Financial Group lowered their target price 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. Five research analysts have rated the stock with a sell rating and four have issued a hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus price target of $17.89.

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.