Royce & Associates LP increased its holdings in shares of WK Kellogg Co (NYSE:KLG - Free Report) by 46.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105,134 shares of the company's stock after acquiring an additional 33,147 shares during the period. Royce & Associates LP owned approximately 0.12% of WK Kellogg worth $1,891,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Jupiter Asset Management Ltd. boosted its position in shares of WK Kellogg by 172.9% in 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 in the last quarter. Captrust Financial Advisors boosted its holdings in WK Kellogg by 12,352.1% in the third quarter. Captrust Financial Advisors now owns 1,516,417 shares of the company's stock worth $25,946,000 after acquiring an additional 1,504,239 shares in the last quarter. Verition Fund Management LLC grew its stake in shares of WK Kellogg by 563.8% in the third quarter. Verition Fund Management LLC now owns 333,321 shares of the company's stock worth $5,703,000 after acquiring an additional 283,104 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of WK Kellogg by 31.1% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,124,503 shares of the company's stock valued at $19,240,000 after acquiring an additional 266,877 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its holdings in shares of WK Kellogg by 72.3% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 542,570 shares of the company's stock valued at $9,283,000 after acquiring an additional 227,730 shares in the last quarter. Hedge funds and other institutional investors own 95.74% of the company's stock.
Analyst Ratings Changes
Several analysts recently commented on the stock. Morgan Stanley started coverage on shares of WK Kellogg in a research report on Monday. They set an "underweight" rating and a $18.00 price objective on the stock. TD Cowen downgraded shares of WK Kellogg from a "hold" rating to a "sell" rating and reduced their price target for the company from $18.00 to $16.00 in a research report on Wednesday, January 8th. Barclays lowered their price objective on WK Kellogg from $19.00 to $16.00 and set an "underweight" rating on the stock in a research report on Friday, January 17th. Stifel Nicolaus reduced their target price on WK Kellogg from $19.00 to $18.00 and set a "hold" rating for the company in a report on Friday, January 24th. Finally, 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. Five investment analysts have rated the stock with a sell rating and four have given a hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Reduce" and an average price target of $17.89.
Read Our Latest Stock Analysis on WK Kellogg
WK Kellogg Stock Performance
WK Kellogg stock traded up $0.33 during mid-day trading on Tuesday, reaching $18.55. 517,954 shares of the stock traded hands, compared to its average volume of 1,005,883. WK Kellogg Co has a 12-month low of $15.17 and a 12-month high of $24.63. The business's 50-day moving average is $18.29 and its 200-day moving average is $18.19. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.74 and a quick ratio of 0.32. The stock has a market capitalization of $1.60 billion, a PE ratio of 22.90, a price-to-earnings-growth ratio of 2.01 and a beta of 0.30.
WK Kellogg (NYSE:KLG - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.42 earnings per share for the quarter, topping 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, sell-side analysts predict that WK Kellogg Co will post 1.57 EPS for the current fiscal year.
WK Kellogg Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 3.56%. This is a positive change from WK Kellogg's previous quarterly dividend of $0.16. The ex-dividend date was Friday, February 28th. WK Kellogg's dividend payout ratio is 81.48%.
WK Kellogg Company Profile
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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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