Virtu Financial LLC Invests $231,000 in WK Kellogg Co (NYSE:KLG)

Virtu Financial LLC purchased a new position in WK Kellogg Co (NYSE:KLG - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 12,849 shares of the company's stock, valued at approximately $231,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Royce & Associates LP boosted its holdings in shares of WK Kellogg by 46.0% in the 4th quarter. Royce & Associates LP now owns 105,134 shares of the company's stock valued at $1,891,000 after buying an additional 33,147 shares in the last quarter. Jupiter Asset Management Ltd. boosted its stake in WK Kellogg by 172.9% during the 4th quarter. Jupiter Asset Management Ltd. now owns 2,494,881 shares of the company's stock worth $44,883,000 after purchasing an additional 1,580,704 shares during the period. Wealthfront Advisers LLC purchased a new position in WK Kellogg during the 4th quarter worth $44,000. Amundi increased its stake in WK Kellogg by 2,471.1% in the fourth quarter. Amundi now owns 119,068 shares of the company's stock valued at $2,142,000 after purchasing an additional 114,437 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of WK Kellogg in the fourth quarter valued at about $754,000. Institutional investors and hedge funds own 95.74% of the company's stock.

Wall Street Analyst Weigh In

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

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WK Kellogg Price Performance

NYSE:KLG traded up $0.06 during trading hours on Wednesday, hitting $20.21. The company's stock had a trading volume of 645,003 shares, compared to its average volume of 1,016,445. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.32 and a current ratio of 0.74. WK Kellogg Co has a 52-week low of $15.17 and a 52-week high of $24.63. The company has a market capitalization of $1.74 billion, a PE ratio of 24.95, a PEG ratio of 2.01 and a beta of 0.29. The business's 50-day moving average is $18.77 and its two-hundred day moving average is $18.25.

WK Kellogg (NYSE:KLG - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.42 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%. As a group, research analysts anticipate that WK Kellogg Co will post 1.57 EPS for the current fiscal year.

WK Kellogg Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.165 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.27%. This is a boost from WK Kellogg's previous quarterly dividend of $0.16. WK Kellogg's dividend payout ratio is currently 81.48%.

WK Kellogg 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.