Victory Capital Management Inc. raised its holdings in shares of WK Kellogg Co (NYSE:KLG - Free Report) by 1,217.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 233,997 shares of the company's stock after purchasing an additional 216,236 shares during the quarter. Victory Capital Management Inc. owned 0.27% of WK Kellogg worth $4,210,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of KLG. GSA Capital Partners LLP acquired a new position in shares of WK Kellogg in the 3rd quarter worth $602,000. Royce & Associates LP boosted its position in WK Kellogg by 199.8% during the third quarter. Royce & Associates LP now owns 71,987 shares of the company's stock valued at $1,232,000 after purchasing an additional 47,973 shares during the last quarter. Intech Investment Management LLC acquired a new stake in shares of WK Kellogg in the third quarter worth about $997,000. Landscape Capital Management L.L.C. acquired a new stake in shares of WK Kellogg in the third quarter worth about $1,507,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of WK Kellogg by 7.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,112,558 shares of the company's stock worth $19,036,000 after buying an additional 79,808 shares during the last quarter. Institutional investors and hedge funds own 95.74% of the company's stock.
Analyst Ratings Changes
A number of analysts have weighed in on the company. TD Cowen cut 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. Stifel Nicolaus cut their price objective on WK Kellogg from $19.00 to $18.00 and set a "hold" rating for the company in a research report on Friday, January 24th. Barclays cut 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. Finally, Jefferies Financial Group cut their price objective 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. Four equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $17.88.
Check Out Our Latest Stock Analysis on KLG
WK Kellogg Stock Down 5.1 %
Shares of NYSE KLG traded down $1.01 during mid-day trading on Wednesday, hitting $18.99. The company had a trading volume of 513,737 shares, compared to its average volume of 1,005,183. WK Kellogg Co has a one year low of $15.17 and a one year high of $24.63. The company has a market capitalization of $1.64 billion, a PE ratio of 23.46, a price-to-earnings-growth ratio of 2.01 and a beta of 0.30. The firm has a 50-day simple moving average of $18.07 and a two-hundred day simple moving average of $18.15. 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 issued 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 net margin of 2.66% and a return on equity of 39.81%. On average, equities analysts expect 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. Stockholders of record on Friday, February 28th were given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.48%. This is an increase from WK Kellogg's previous quarterly dividend of $0.16. The ex-dividend date was Friday, February 28th. WK Kellogg's payout ratio is presently 81.48%.
WK Kellogg Profile
(
Free Report)
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.
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