Siemens Fonds Invest GmbH Takes Position in WK Kellogg Co (NYSE:KLG)

Siemens Fonds Invest GmbH acquired a new position in shares of WK Kellogg Co (NYSE:KLG - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 25,247 shares of the company's stock, valued at approximately $454,000.

Other hedge funds also recently made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of WK Kellogg during the fourth quarter worth about $1,994,000. Polar Asset Management Partners Inc. purchased a new position in shares of WK Kellogg during the fourth quarter worth about $1,051,000. Western Wealth Management LLC purchased a new position in shares of WK Kellogg during the fourth quarter worth about $198,000. Patrick Mauro Investment Advisor INC. grew its holdings in shares of WK Kellogg by 35.1% during the fourth quarter. Patrick Mauro Investment Advisor INC. now owns 63,798 shares of the company's stock worth $1,148,000 after buying an additional 16,563 shares during the last quarter. Finally, Two Sigma Advisers LP grew its holdings in shares of WK Kellogg by 0.4% during the fourth quarter. Two Sigma Advisers LP now owns 391,900 shares of the company's stock worth $7,050,000 after buying an additional 1,500 shares during the last quarter. Hedge funds and other institutional investors own 95.74% of the company's stock.

WK Kellogg Stock Performance

NYSE:KLG traded up $0.27 during mid-day trading on Tuesday, reaching $16.26. The stock had a trading volume of 902,474 shares, compared to its average volume of 975,088. The business has a 50 day simple moving average of $18.18 and a 200 day simple moving average of $18.44. WK Kellogg Co has a twelve month low of $14.80 and a twelve month high of $22.21. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.32 and a current ratio of 0.74. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of 20.08, a PEG ratio of 2.01 and a beta of 0.54.

WK Kellogg (NYSE:KLG - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.20 earnings per share (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 company had revenue of $667.00 million for the quarter, compared to analyst estimates of $677.91 million. During the same quarter in the previous year, the business posted $0.37 earnings per share. WK Kellogg's revenue was down 6.2% on a year-over-year basis. On average, analysts expect that WK Kellogg Co will post 1.57 earnings per share for the current fiscal year.

WK Kellogg Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be given a dividend of $0.165 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 4.06%. WK Kellogg's payout ratio is 103.13%.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley assumed coverage on WK Kellogg in a report on Monday, March 24th. They set an "underweight" rating and a $18.00 price target on the stock. Four research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. Based on data from MarketBeat, WK Kellogg has an average rating of "Reduce" and an average price target of $16.86.

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.