WK Kellogg Co (NYSE:KLG) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas lessened its holdings in WK Kellogg Co (NYSE:KLG - Free Report) by 11.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 179,143 shares of the company's stock after selling 24,219 shares during the period. Teacher Retirement System of Texas owned 0.21% of WK Kellogg worth $3,223,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Royce & Associates LP raised its position in shares of WK Kellogg by 46.0% during the 4th quarter. Royce & Associates LP now owns 105,134 shares of the company's stock worth $1,891,000 after purchasing an additional 33,147 shares during the last quarter. Jupiter Asset Management Ltd. raised its holdings in shares of WK Kellogg by 172.9% in the fourth quarter. Jupiter Asset Management Ltd. now owns 2,494,881 shares of the company's stock worth $44,883,000 after acquiring an additional 1,580,704 shares during the last quarter. Wealthfront Advisers LLC purchased a new stake in shares of WK Kellogg in the fourth quarter valued at $44,000. Amundi boosted its stake in shares of WK Kellogg by 2,471.1% during the fourth quarter. Amundi now owns 119,068 shares of the company's stock valued at $2,142,000 after acquiring an additional 114,437 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in WK Kellogg during the 4th quarter worth about $754,000. 95.74% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

KLG has been the topic of a number of recent research reports. Morgan Stanley assumed coverage on shares of WK Kellogg in a report on Monday, March 24th. They issued an "underweight" rating and a $18.00 target price on the stock. TD Cowen downgraded shares of WK Kellogg from a "hold" rating to a "sell" rating and reduced their price objective for the company from $18.00 to $16.00 in a research note on Wednesday, January 8th. Stifel Nicolaus lowered their target price on shares of WK Kellogg from $19.00 to $18.00 and set a "hold" rating for the company in a research note on Friday, January 24th. Jefferies Financial Group reduced their price target on WK Kellogg from $19.00 to $16.00 and set a "hold" rating on the stock in a research note on Tuesday, January 28th. Finally, Barclays lowered their price objective on WK Kellogg from $19.00 to $16.00 and set an "underweight" rating for the company in a research report on Friday, January 17th. Five investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat, WK Kellogg currently has an average rating of "Reduce" and a consensus target price of $17.89.

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WK Kellogg Trading Down 0.5 %

Shares of KLG stock traded down $0.11 on Friday, reaching $19.53. 502,399 shares of the stock were exchanged, compared to its average volume of 1,023,320. WK Kellogg Co has a 1-year low of $15.17 and a 1-year high of $24.63. The stock has a market cap of $1.68 billion, a P/E ratio of 24.10, a price-to-earnings-growth ratio of 2.01 and a beta of 0.30. The company has a quick ratio of 0.32, a current ratio of 0.74 and a debt-to-equity ratio of 1.45. The firm has a 50 day moving average of $18.56 and a two-hundred day moving average of $18.22.

WK Kellogg (NYSE:KLG - Get Free Report) last released 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 return on equity of 39.81% and a net margin of 2.66%. On average, research analysts anticipate that WK Kellogg Co will post 1.57 EPS for the current year.

WK Kellogg Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis 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%.

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.