WINTON GROUP Ltd Boosts Stake in WK Kellogg Co (NYSE:KLG)

WINTON GROUP Ltd lifted its holdings in shares of WK Kellogg Co (NYSE:KLG - Free Report) by 63.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 270,395 shares of the company's stock after purchasing an additional 104,533 shares during the period. WINTON GROUP Ltd owned about 0.31% of WK Kellogg worth $4,451,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Victory Capital Management Inc. purchased a new stake in WK Kellogg in the 4th quarter worth approximately $1,387,000. Swiss National Bank purchased a new stake in WK Kellogg in the 4th quarter worth approximately $1,884,000. Amalgamated Bank purchased a new stake in WK Kellogg in the 4th quarter worth approximately $326,000. National Bank of Canada FI purchased a new stake in WK Kellogg in the 4th quarter worth approximately $115,000. Finally, Charles Schwab Investment Management Inc. purchased a new stake in WK Kellogg in the 4th quarter worth approximately $6,159,000. 95.74% of the stock is owned by hedge funds and other institutional investors.

WK Kellogg Stock Down 1.1 %

WK Kellogg stock traded down $0.20 during trading on Friday, reaching $18.37. 936,964 shares of the company's stock were exchanged, compared to its average volume of 1,099,074. The company's 50-day moving average is $17.06 and its two-hundred day moving average is $18.40. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.36 and a current ratio of 0.83. WK Kellogg Co has a 52-week low of $9.65 and a 52-week high of $24.63. The firm has a market cap of $1.58 billion and a price-to-earnings ratio of 13.11.

WK Kellogg (NYSE:KLG - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.36 earnings per share for the quarter, missing analysts' consensus estimates of $0.42 by ($0.06). The business had revenue of $672.00 million for the quarter, compared to analysts' expectations of $671.50 million. WK Kellogg had a return on equity of 42.12% and a net margin of 4.45%. The firm's revenue for the quarter was down 4.0% on a year-over-year basis. On average, analysts predict that WK Kellogg Co will post 1.5 earnings per share for the current year.

WK Kellogg Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 29th were given a $0.16 dividend. The ex-dividend date was Thursday, August 29th. This represents a $0.64 dividend on an annualized basis and a yield of 3.48%.

Analyst Upgrades and Downgrades

KLG has been the subject of several recent analyst reports. Bank of America cut shares of WK Kellogg from a "neutral" rating to an "underperform" rating and lowered their target price for the stock from $24.00 to $17.00 in a research note on Wednesday, July 10th. Stifel Nicolaus decreased their price target on shares of WK Kellogg from $22.00 to $18.00 and set a "hold" rating on the stock in a report on Tuesday, July 23rd. Barclays decreased their price target on shares of WK Kellogg from $19.00 to $16.00 and set an "underweight" rating on the stock in a report on Friday, July 19th. Finally, JPMorgan Chase & Co. decreased their price target on shares of WK Kellogg from $22.00 to $17.00 and set a "neutral" rating on the stock in a report on Wednesday, August 7th. Four investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company's stock. According to MarketBeat.com, WK Kellogg presently has a consensus rating of "Hold" and a consensus price target of $17.40.

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.