D. E. Shaw & Co. Inc. Buys 17,088 Shares of WK Kellogg Co (NYSE:KLG)

D. E. Shaw & Co. Inc. boosted its position in WK Kellogg Co (NYSE:KLG - Free Report) by 0.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,827,524 shares of the company's stock after acquiring an additional 17,088 shares during the period. D. E. Shaw & Co. Inc. owned 2.12% of WK Kellogg worth $32,877,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Halbert Hargrove Global Advisors LLC purchased a new stake in shares of WK Kellogg in the fourth quarter worth approximately $25,000. Ancora Advisors LLC raised its stake in shares of WK Kellogg by 181.8% in the fourth quarter. Ancora Advisors LLC now owns 1,519 shares of the company's stock worth $27,000 after purchasing an additional 980 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of WK Kellogg in the fourth quarter worth approximately $36,000. Wealthfront Advisers LLC purchased a new stake in shares of WK Kellogg in the fourth quarter worth approximately $44,000. Finally, GAMMA Investing LLC raised 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 purchasing an additional 933 shares during the last quarter. Institutional investors own 95.74% of the company's stock.

Wall Street Analyst Weigh In

KLG has been the subject of several analyst reports. Barclays lowered their price objective 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. Jefferies Financial Group lowered their price objective 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. Morgan Stanley began coverage on WK Kellogg in a research note on Monday, March 24th. They issued an "underweight" rating and a $18.00 price objective for the company. Finally, Stifel Nicolaus decreased their price target 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. Four investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Reduce" and an average price target of $16.86.

WK Kellogg Stock Performance

NYSE KLG traded up $0.20 on Friday, hitting $18.16. 267,969 shares of the stock traded hands, compared to its average volume of 989,785. The business's fifty day moving average is $18.76 and its two-hundred day moving average is $18.44. WK Kellogg Co has a 12 month low of $14.80 and a 12 month high of $22.21. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of 22.42, a PEG ratio of 2.01 and a beta of 0.54. 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 (NYSE:KLG - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.21). WK Kellogg had a net margin of 2.66% and a return on equity of 39.81%. The firm had revenue of $667.00 million for the quarter, compared to the consensus estimate of $677.91 million. During the same period last year, the company posted $0.37 earnings per share. WK Kellogg's revenue for the quarter was down 6.2% on a year-over-year basis. As a group, equities analysts anticipate that WK Kellogg Co will post 1.57 EPS for the current fiscal year.

WK Kellogg Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 3.63%. The ex-dividend date is Friday, May 30th. WK Kellogg's dividend payout ratio (DPR) is 103.13%.

About WK Kellogg

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.