Massachusetts Financial Services Co. MA Has $12.71 Million Stock Position in WK Kellogg Co (NYSE:KLG)

Massachusetts Financial Services Co. MA trimmed its position in WK Kellogg Co (NYSE:KLG - Free Report) by 36.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 706,573 shares of the company's stock after selling 405,763 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.82% of WK Kellogg worth $12,711,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Halbert Hargrove Global Advisors LLC acquired a new position in WK Kellogg in the fourth quarter valued at approximately $25,000. SBI Securities Co. Ltd. acquired a new position in WK Kellogg during the 4th quarter valued at approximately $36,000. Wealthfront Advisers LLC acquired a new position in WK Kellogg during the 4th quarter valued at approximately $44,000. GAMMA Investing LLC grew its stake in WK Kellogg by 49.4% during the 4th quarter. GAMMA Investing LLC now owns 2,823 shares of the company's stock worth $51,000 after buying an additional 933 shares during the last quarter. Finally, Spire Wealth Management bought a new stake in WK Kellogg in the fourth quarter valued at $56,000. 95.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Jefferies Financial Group lowered their price target on shares of WK Kellogg from $19.00 to $16.00 and set a "hold" rating for the company in a research report on Tuesday, January 28th. Barclays dropped their price target on shares of WK Kellogg from $19.00 to $16.00 and set an "underweight" rating on the stock in a research note on Friday, January 17th. Morgan Stanley began coverage on WK Kellogg in a report on Monday, March 24th. They issued an "underweight" rating and a $18.00 price objective for the company. Stifel Nicolaus lowered their target price on 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, TD Cowen lowered WK Kellogg from a "hold" rating to a "sell" rating and reduced their price target for the stock from $18.00 to $16.00 in a research report on Wednesday, January 8th. Five research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus price target of $17.89.

WK Kellogg Price Performance

Shares of KLG traded up $0.59 during midday trading on Friday, reaching $19.43. The stock had a trading volume of 556,449 shares, compared to its average volume of 1,011,835. 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 $1.67 billion, a P/E ratio of 23.99, a P/E/G ratio of 2.01 and a beta of 0.39. The firm's 50 day moving average price is $19.16 and its 200-day moving average price is $18.31. WK Kellogg Co has a 52 week low of $15.17 and a 52 week high of $24.63.

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

WK Kellogg Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 3.40%. This is a boost from WK Kellogg's previous quarterly dividend of $0.16. The ex-dividend date was Friday, February 28th. WK Kellogg's dividend payout ratio (DPR) is presently 81.48%.

WK Kellogg Company 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.