Royce & Associates LP Raises Position in WK Kellogg Co (NYSE:KLG)

Royce & Associates LP increased its stake in WK Kellogg Co (NYSE:KLG) by 46.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 105,134 shares of the company’s stock after buying an additional 33,147 shares during the quarter. Royce & Associates LP’s holdings in WK Kellogg were worth $1,891,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Halbert Hargrove Global Advisors LLC acquired a new stake in WK Kellogg in the fourth quarter valued at approximately $25,000. SBI Securities Co. Ltd. purchased a new position in shares of WK Kellogg in the fourth quarter valued at $36,000. Wealthfront Advisers LLC acquired a new stake in WK Kellogg during the 4th quarter valued at $44,000. GAMMA Investing LLC increased its stake in WK Kellogg by 49.4% during the 4th quarter. GAMMA Investing LLC now owns 2,823 shares of the company’s stock worth $51,000 after buying an additional 933 shares during the period. Finally, Spire Wealth Management acquired a new position in WK Kellogg in the 4th quarter worth $56,000. 95.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on KLG shares. Barclays lowered their target price on WK Kellogg from $19.00 to $16.00 and set an “underweight” rating for the company in a research note on Friday, January 17th. Stifel Nicolaus dropped their price objective on WK Kellogg from $19.00 to $18.00 and set a “hold” rating on the stock in a report on Friday, January 24th. Jefferies Financial Group reduced their target price on WK Kellogg from $19.00 to $16.00 and set a “hold” rating for the company in a research note on Tuesday, January 28th. Finally, TD Cowen lowered shares of 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. Four equities research 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, the stock has a consensus rating of “Hold” and a consensus target price of $17.88.

WK Kellogg Stock Performance

Shares of KLG opened at $18.74 on Friday. The stock has a market capitalization of $1.62 billion, a PE ratio of 23.14, a price-to-earnings-growth ratio of 2.01 and a beta of 0.30. The business’s fifty day moving average price is $18.17 and its 200 day moving average price is $18.16. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.74 and a quick ratio of 0.32. WK Kellogg Co has a 12-month low of $15.17 and a 12-month high of $24.63.

WK Kellogg (NYSE:KLG) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $0.42 earnings per share (EPS) for the quarter, topping 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%. Equities research analysts forecast that WK Kellogg Co will post 1.57 EPS for the current year.

WK Kellogg Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a dividend of $0.165 per share. The ex-dividend date of this dividend was Friday, February 28th. This is a positive change from WK Kellogg’s previous quarterly dividend of $0.16. This represents a $0.66 annualized dividend and a dividend yield of 3.52%. WK Kellogg’s dividend 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.