Landscape Capital Management L.L.C. Takes Position in WK Kellogg Co. $KLG

Key Points

• Landscape Capital Management L.L.C. has acquired 121,248 shares of WK Kellogg Co., valued at approximately $2.4 million, representing about 0.14% of the company's stock.
• WK Kellogg reported earnings of $0.25 per share, missing the expected $0.28, with a revenue of $611.52 million, down 8.8% from the previous year.
• The company announced a quarterly dividend of $0.165, which translates to an annualized dividend yield of 2.9%, despite a high payout ratio of 178.38%.

Landscape Capital Management L.L.C. purchased a new position in shares of WK Kellogg Co. (NYSE:KLG - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 121,248 shares of the company's stock, valued at approximately $2,416,000. Landscape Capital Management L.L.C. owned approximately 0.14% of WK Kellogg at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Envestnet Asset Management Inc. boosted its position in shares of WK Kellogg by 22.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 15,185 shares of the company's stock valued at $273,000 after purchasing an additional 2,766 shares during the period. Raymond James Financial Inc. purchased a new stake in WK Kellogg during the 4th quarter valued at approximately $754,000. Marshall Wace LLP acquired a new stake in WK Kellogg during the 4th quarter worth approximately $397,000. First Trust Advisors LP increased its holdings in shares of WK Kellogg by 15.3% in the fourth quarter. First Trust Advisors LP now owns 147,285 shares of the company's stock valued at $2,650,000 after purchasing an additional 19,591 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of WK Kellogg by 11.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 474,136 shares of the company's stock valued at $8,529,000 after acquiring an additional 49,798 shares in the last quarter. Institutional investors and hedge funds own 95.74% of the company's stock.

WK Kellogg Stock Up 0.1%

Shares of KLG traded up $0.02 during mid-day trading on Wednesday, hitting $22.96. 582,629 shares of the company's stock were exchanged, compared to its average volume of 1,284,753. The firm has a fifty day moving average of $21.70 and a two-hundred day moving average of $19.44. WK Kellogg Co. has a twelve month low of $14.80 and a twelve month high of $23.56. The company has a quick ratio of 0.47, a current ratio of 0.99 and a debt-to-equity ratio of 1.97. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of 62.04 and a beta of 0.24.

WK Kellogg (NYSE:KLG - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.03). The business had revenue of $611.52 million for the quarter, compared to analyst estimates of $653.36 million. WK Kellogg had a return on equity of 31.34% and a net margin of 1.31%.WK Kellogg's revenue for the quarter was down 8.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.36 EPS. On average, sell-side analysts forecast that WK Kellogg Co. will post 1.57 earnings per share for the current year.

WK Kellogg Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 29th will be paid a $0.165 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.66 annualized dividend and a yield of 2.9%. WK Kellogg's payout ratio is currently 178.38%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Cowen raised WK Kellogg from a "sell" rating to a "hold" rating in a report on Friday, July 11th. Wall Street Zen raised WK Kellogg from a "sell" rating to a "hold" rating in a report on Sunday, July 13th. BNP Paribas set a $23.00 target price on shares of WK Kellogg in a report on Friday, July 11th. TD Cowen raised shares of WK Kellogg from a "sell" rating to a "hold" rating and increased their price objective for the company from $14.00 to $23.00 in a research note on Monday, July 14th. Finally, Barclays reiterated an "underweight" rating and issued a $23.00 price target (up from $16.00) on shares of WK Kellogg in a research report on Monday, July 14th. Seven equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and an average price target of $20.88.

WK Kellogg 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.