XTX Topco Ltd Makes New Investment in WK Kellogg Co (NYSE:KLG)

XTX Topco Ltd bought a new stake in WK Kellogg Co (NYSE:KLG - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 23,102 shares of the company's stock, valued at approximately $416,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Truist Financial Corp grew its holdings in shares of WK Kellogg by 2.2% during the 4th quarter. Truist Financial Corp now owns 39,658 shares of the company's stock worth $713,000 after purchasing an additional 838 shares during the period. GAMMA Investing LLC increased its holdings in WK Kellogg by 49.4% in the 4th quarter. GAMMA Investing LLC now owns 2,823 shares of the company's stock valued at $51,000 after purchasing an additional 933 shares in the last quarter. Halbert Hargrove Global Advisors LLC acquired a new stake in WK Kellogg in the 4th quarter valued at $25,000. Jones Financial Companies Lllp raised its position in WK Kellogg by 26.9% in the fourth quarter. Jones Financial Companies Lllp now owns 7,813 shares of the company's stock valued at $141,000 after purchasing an additional 1,657 shares during the period. Finally, Janney Montgomery Scott LLC lifted its stake in shares of WK Kellogg by 13.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 16,818 shares of the company's stock worth $303,000 after purchasing an additional 1,955 shares in the last quarter. Hedge funds and other institutional investors own 95.74% of the company's stock.

Analysts Set New Price Targets

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

WK Kellogg Stock Performance

NYSE KLG traded down $0.38 during trading hours on Friday, hitting $17.86. The company had a trading volume of 823,840 shares, compared to its average volume of 996,104. The company has a quick ratio of 0.32, a current ratio of 0.74 and a debt-to-equity ratio of 1.45. The firm has a market cap of $1.54 billion, a P/E ratio of 22.05, a price-to-earnings-growth ratio of 2.01 and a beta of 0.39. WK Kellogg Co has a fifty-two week low of $15.17 and a fifty-two week high of $24.56. The business has a fifty day simple moving average of $19.39 and a 200-day simple moving average of $18.44.

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, 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%. Equities analysts predict 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. Investors of record on Friday, February 28th were given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 3.70%. 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. WK Kellogg's dividend payout ratio is currently 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.