10,857 Shares in WK Kellogg Co (NYSE:KLG) Purchased by SPC Financial Inc.

SPC Financial Inc. purchased a new stake in WK Kellogg Co (NYSE:KLG) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 10,857 shares of the company’s stock, valued at approximately $195,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Victory Capital Management Inc. grew its holdings in WK Kellogg by 1,217.5% in the 4th quarter. Victory Capital Management Inc. now owns 233,997 shares of the company’s stock valued at $4,210,000 after buying an additional 216,236 shares during the period. Keybank National Association OH grew its holdings in WK Kellogg by 1.1% in the 4th quarter. Keybank National Association OH now owns 4,925,470 shares of the company’s stock valued at $88,609,000 after buying an additional 52,129 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in WK Kellogg by 11.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,240,046 shares of the company’s stock valued at $22,308,000 after buying an additional 127,488 shares during the period. SBI Securities Co. Ltd. purchased a new stake in WK Kellogg in the 4th quarter valued at about $36,000. Finally, Jones Financial Companies Lllp grew its holdings in WK Kellogg by 26.9% in the 4th quarter. Jones Financial Companies Lllp now owns 7,813 shares of the company’s stock valued at $141,000 after buying an additional 1,657 shares during the period. Hedge funds and other institutional investors own 95.74% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on KLG shares. Stifel Nicolaus lowered their price target on WK Kellogg from $19.00 to $18.00 and set a “hold” rating for the company in a report on Friday, January 24th. Barclays reduced 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. Jefferies Financial Group reduced their price objective on WK Kellogg from $19.00 to $16.00 and set a “hold” rating on the stock in a research note on Tuesday, January 28th. Finally, TD Cowen lowered WK Kellogg from a “hold” rating to a “sell” rating and reduced their price objective for the company from $18.00 to $16.00 in a research note on Wednesday, January 8th. Four analysts have rated the stock with a sell rating and four have issued a hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $17.88.

WK Kellogg Stock Performance

WK Kellogg stock opened at $19.12 on Thursday. The stock’s 50 day moving average price is $17.64 and its 200 day moving average price is $17.98. The firm has a market capitalization of $1.65 billion, a PE ratio of 23.60, a price-to-earnings-growth ratio of 2.01 and a beta of 0.70. 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 one year low of $14.37 and a one year high of $24.63.

WK Kellogg (NYSE:KLG) last released its quarterly earnings results on Tuesday, February 11th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.28 by $0.14. WK Kellogg had a return on equity of 39.81% and a net margin of 2.66%. As a group, sell-side analysts expect that WK Kellogg Co will post 1.57 EPS for the current fiscal year.

WK Kellogg Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a dividend of $0.165 per share. 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. This represents a $0.66 annualized dividend and a yield of 3.45%. WK Kellogg’s 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.