WK Kellogg Co. $KLG is AWH Capital L.P.'s 3rd Largest Position

Key Points

• AWH Capital L.P. reduced its stake in WK Kellogg Co. by 16.7%, owning approximately $6.31 million worth of stock, making it the firm's third largest position.
• WK Kellogg has recently faced lower earnings, reporting a net margin of 1.31% and missing analyst revenue expectations by almost $42 million.
• Research analysts have generally assigned a Hold rating for WK Kellogg, with a consensus price target of $20.88 based on multiple recent evaluations.

AWH Capital L.P. decreased its stake in shares of WK Kellogg Co. (NYSE:KLG - Free Report) by 16.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 316,450 shares of the company's stock after selling 63,550 shares during the quarter. WK Kellogg comprises about 9.1% of AWH Capital L.P.'s portfolio, making the stock its 3rd largest holding. AWH Capital L.P. owned approximately 0.37% of WK Kellogg worth $6,307,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of WK Kellogg by 4.6% during the first quarter. Vanguard Group Inc. now owns 5,640,453 shares of the company's stock worth $112,414,000 after acquiring an additional 245,555 shares during the last quarter. Credit Agricole S A boosted its position in shares of WK Kellogg by 10.4% during the first quarter. Credit Agricole S A now owns 4,287,331 shares of the company's stock worth $85,447,000 after acquiring an additional 403,970 shares during the last quarter. LSV Asset Management lifted its position in WK Kellogg by 280.5% during the first quarter. LSV Asset Management now owns 3,038,537 shares of the company's stock valued at $60,558,000 after purchasing an additional 2,239,966 shares during the last quarter. Jupiter Asset Management Ltd. lifted its position in WK Kellogg by 17.8% during the first quarter. Jupiter Asset Management Ltd. now owns 2,939,001 shares of the company's stock valued at $58,574,000 after purchasing an additional 444,120 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its position in WK Kellogg by 0.9% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,827,524 shares of the company's stock valued at $32,877,000 after purchasing an additional 17,088 shares during the last quarter. Institutional investors own 95.74% of the company's stock.

Analysts Set New Price Targets

KLG has been the subject of several research reports. Evercore ISI increased their price objective on shares of WK Kellogg from $19.00 to $23.00 and gave the company an "in-line" rating in a research report on Friday, July 11th. Cowen upgraded shares of WK Kellogg from a "sell" rating to a "hold" rating in a research report on Friday, July 11th. BNP Paribas set a $23.00 price objective on shares of WK Kellogg in a research report on Friday, July 11th. Wall Street Zen upgraded shares of WK Kellogg from a "sell" rating to a "hold" rating in a report on Sunday, July 13th. Finally, JPMorgan Chase & Co. started coverage on shares of WK Kellogg in a report on Wednesday, August 20th. They issued a "neutral" rating and a $23.00 target price for the company. Seven analysts have rated the stock with a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, WK Kellogg has a consensus rating of "Reduce" and an average price target of $20.88.

WK Kellogg Stock Performance

KLG stock traded up $0.03 during trading on Friday, reaching $22.96. The company had a trading volume of 2,506,112 shares, compared to its average volume of 860,432. The firm has a 50-day simple moving average of $22.13 and a 200-day simple moving average of $19.51. The company has a market cap of $1.98 billion, a price-to-earnings ratio of 62.04 and a beta of 0.24. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.47 and a current ratio of 0.99. WK Kellogg Co. has a twelve month low of $14.80 and a twelve month high of $23.56.

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

WK Kellogg Announces Dividend

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 issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Friday, August 29th. WK Kellogg's payout ratio is presently 178.38%.

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.