Sanctuary Advisors LLC Sells 13,306 Shares of WK Kellogg Co (NYSE:KLG)

Sanctuary Advisors LLC lowered its stake in WK Kellogg Co (NYSE:KLG - Free Report) by 48.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,002 shares of the company's stock after selling 13,306 shares during the period. Sanctuary Advisors LLC's holdings in WK Kellogg were worth $238,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in KLG. GAMMA Investing LLC lifted its stake in shares of WK Kellogg by 49.4% in the fourth quarter. GAMMA Investing LLC now owns 2,823 shares of the company's stock worth $51,000 after acquiring an additional 933 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of WK Kellogg by 13.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 16,818 shares of the company's stock worth $303,000 after acquiring an additional 1,955 shares during the period. Spire Wealth Management acquired a new position in shares of WK Kellogg in the fourth quarter worth approximately $56,000. Inlet Private Wealth LLC lifted its stake in shares of WK Kellogg by 1.0% in the fourth quarter. Inlet Private Wealth LLC now owns 324,040 shares of the company's stock worth $5,829,000 after acquiring an additional 3,200 shares during the period. Finally, Nisa Investment Advisors LLC lifted its stake in shares of WK Kellogg by 65.1% in the third quarter. Nisa Investment Advisors LLC now owns 8,802 shares of the company's stock worth $151,000 after acquiring an additional 3,471 shares during the period. Institutional investors and hedge funds own 95.74% of the company's stock.

WK Kellogg Stock Performance

KLG stock traded up $1.02 during midday trading on Friday, reaching $20.07. 915,895 shares of the company's stock traded hands, compared to its average volume of 1,129,170. The company has a 50-day moving average price of $17.70 and a two-hundred day moving average price of $18.01. 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 $14.37 and a 52 week high of $24.63. The firm has a market capitalization of $1.73 billion, a PE ratio of 24.77, a price-to-earnings-growth ratio of 2.01 and a beta of 0.30.

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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 analysts' consensus estimates 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, equities analysts anticipate that WK Kellogg Co will post 1.57 EPS for the current year.

WK Kellogg Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend is Friday, February 28th. This is a positive change from WK Kellogg's previous quarterly dividend of $0.16. WK Kellogg's dividend payout ratio is 81.48%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on KLG shares. Barclays dropped their price objective on WK Kellogg from $19.00 to $16.00 and set an "underweight" rating on the stock in a research note on Friday, January 17th. TD Cowen downgraded WK Kellogg from a "hold" rating to a "sell" rating and dropped their price target for the stock from $18.00 to $16.00 in a research note on Wednesday, January 8th. Stifel Nicolaus decreased their target price 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. Finally, Jefferies Financial Group decreased their target price 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 analysts have rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat.com, WK Kellogg currently has an average rating of "Hold" and a consensus price target of $17.88.

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.