Dimensional Fund Advisors LP lifted its stake in WK Kellogg Co (NYSE:KLG - Free Report) by 11.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 474,136 shares of the company's stock after buying an additional 49,798 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.55% of WK Kellogg worth $8,529,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Halbert Hargrove Global Advisors LLC purchased a new stake in shares of WK Kellogg during the 4th quarter valued at about $25,000. SBI Securities Co. Ltd. bought a new stake in shares of WK Kellogg in the 4th quarter valued at approximately $36,000. Wealthfront Advisers LLC purchased a new position in shares of WK Kellogg in the 4th quarter worth approximately $44,000. GAMMA Investing LLC increased its position in shares of WK Kellogg by 49.4% during 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 during the last quarter. Finally, Spire Wealth Management purchased a new stake in WK Kellogg during the 4th quarter valued at $56,000. Institutional investors own 95.74% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on KLG shares. Barclays reduced their price objective on shares of WK Kellogg from $19.00 to $16.00 and set an "underweight" rating on the stock in a research report on Friday, January 17th. Morgan Stanley assumed coverage on WK Kellogg in a report on Monday, March 24th. They issued an "underweight" rating and a $18.00 price target on the stock. Jefferies Financial Group cut their price objective on WK Kellogg from $19.00 to $16.00 and set a "hold" rating on the stock in a research report on Tuesday, January 28th. Finally, 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. Four investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Reduce" and an average price target of $16.86.
Check Out Our Latest Research Report on KLG
WK Kellogg Price Performance
KLG opened at $17.02 on Friday. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of 21.01, a PEG ratio of 2.01 and a beta of 0.54. The company has a current ratio of 0.74, a quick ratio of 0.32 and a debt-to-equity ratio of 1.45. WK Kellogg Co has a 12-month low of $14.80 and a 12-month high of $22.21. The business's fifty day simple moving average is $18.95 and its 200-day simple moving average is $18.44.
WK Kellogg (NYSE:KLG - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.20 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.21). WK Kellogg had a net margin of 2.66% and a return on equity of 39.81%. The business had revenue of $667.00 million for the quarter, compared to analysts' expectations of $677.91 million. During the same period last year, the business posted $0.37 EPS. The company's revenue for the quarter was down 6.2% on a year-over-year basis. On average, equities research analysts anticipate that WK Kellogg Co will post 1.57 earnings per share for the current fiscal year.
WK Kellogg Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be paid a dividend of $0.165 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.66 annualized dividend and a yield of 3.88%. WK Kellogg's dividend payout ratio (DPR) is 81.48%.
About WK Kellogg
(
Free Report)
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.
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