Royal London Asset Management Ltd. Purchases Shares of 52,880 WK Kellogg Co (NYSE:KLG)

Royal London Asset Management Ltd. acquired a new stake in WK Kellogg Co (NYSE:KLG - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 52,880 shares of the company's stock, valued at approximately $695,000. Royal London Asset Management Ltd. owned 0.06% of WK Kellogg as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of WK Kellogg during the 3rd quarter worth about $1,657,000. Diversified Trust Co purchased a new position in WK Kellogg during the fourth quarter worth approximately $147,000. Daymark Wealth Partners LLC acquired a new stake in WK Kellogg in the fourth quarter valued at approximately $976,000. Nordea Investment Management AB purchased a new stake in shares of WK Kellogg in the fourth quarter valued at approximately $2,119,000. Finally, North Star Investment Management Corp. acquired a new position in shares of WK Kellogg during the 4th quarter worth approximately $470,000. Hedge funds and other institutional investors own 95.74% of the company's stock.

WK Kellogg Stock Up 0.7 %

KLG traded up $0.12 on Monday, reaching $17.94. The company's stock had a trading volume of 648,814 shares, compared to its average volume of 1,073,491. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.43 and a current ratio of 0.84. The stock has a 50 day moving average of $20.87 and a two-hundred day moving average of $16.68. WK Kellogg Co has a fifty-two week low of $9.65 and a fifty-two week high of $24.63.

WK Kellogg (NYSE:KLG - Get Free Report) last announced its earnings results on Tuesday, May 7th. The company reported $0.37 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.37. The business had revenue of $707.00 million for the quarter, compared to analysts' expectations of $697.83 million. The business's revenue was down .7% compared to the same quarter last year. On average, research analysts predict that WK Kellogg Co will post 1.55 EPS for the current year.

WK Kellogg Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.57%. The ex-dividend date of this dividend was Friday, May 31st.

Wall Street Analyst Weigh In

Several brokerages recently commented on KLG. BNP Paribas cut WK Kellogg from a "neutral" rating to an "underperform" rating and set a $20.00 price target for the company. in a research report on Wednesday, May 8th. Stifel Nicolaus boosted their price target on shares of WK Kellogg from $20.00 to $22.00 and gave the stock a "hold" rating in a research report on Wednesday, May 8th. Evercore ISI increased their price objective on shares of WK Kellogg from $21.00 to $23.00 and gave the company an "in-line" rating in a report on Wednesday, May 8th. TD Cowen boosted their target price on WK Kellogg from $13.00 to $24.00 and gave the stock a "hold" rating in a report on Wednesday, May 8th. Finally, Barclays increased their price target on WK Kellogg from $15.00 to $19.00 and gave the company an "underweight" rating in a report on Thursday, May 9th. Three equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $16.95.

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.