WK Kellogg Co. (NYSE:KLG) Shares Sold by Factorial Partners LLC

Key Points

• Factorial Partners LLC reduced its holdings in WK Kellogg Co. by 13%, now owning 200,000 shares valued at approximately $3.99 million, making it the firm's 16th largest investment.
• Several institutional investors, including LSV Asset Management, significantly increased their stakes in WK Kellogg, with LSV growing its position by 280.5%.
• WK Kellogg recently announced a $0.165 quarterly dividend with a yield of 2.8%, despite its payout ratio exceeding 100% at 103.13%.

Factorial Partners LLC lessened its position in shares of WK Kellogg Co. (NYSE:KLG - Free Report) by 13.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 200,000 shares of the company's stock after selling 30,000 shares during the quarter. WK Kellogg accounts for 2.5% of Factorial Partners LLC's portfolio, making the stock its 16th biggest holding. Factorial Partners LLC owned 0.23% of WK Kellogg worth $3,986,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd purchased a new stake in WK Kellogg in the fourth quarter worth about $273,000. Cambridge Investment Research Advisors Inc. boosted its stake in shares of WK Kellogg by 7.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 10,757 shares of the company's stock worth $214,000 after acquiring an additional 733 shares during the period. Exchange Traded Concepts LLC bought a new position in shares of WK Kellogg in the first quarter worth about $1,892,000. Oppenheimer & Co. Inc. boosted its stake in shares of WK Kellogg by 110.6% in the first quarter. Oppenheimer & Co. Inc. now owns 26,994 shares of the company's stock worth $538,000 after acquiring an additional 14,175 shares during the period. Finally, XTX Topco Ltd bought a new position in shares of WK Kellogg in the fourth quarter worth about $416,000. Hedge funds and other institutional investors own 95.74% of the company's stock.

WK Kellogg Stock Up 0.2%

Shares of WK Kellogg stock traded up $0.04 during trading on Wednesday, reaching $23.17. The company's stock had a trading volume of 624,570 shares, compared to its average volume of 3,672,801. The company has a quick ratio of 0.34, a current ratio of 0.78 and a debt-to-equity ratio of 1.54. The company has a market cap of $2.00 billion, a price-to-earnings ratio of 36.20 and a beta of 0.24. WK Kellogg Co. has a 1-year low of $14.80 and a 1-year high of $23.56. The company has a 50-day simple moving average of $18.99 and a two-hundred day simple moving average of $18.63.

WK Kellogg (NYSE:KLG - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.20 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.21). The business had revenue of $667.00 million during the quarter, compared to analyst estimates of $677.91 million. WK Kellogg had a return on equity of 34.88% and a net margin of 2.14%. The firm's revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.37 EPS. As a group, equities analysts forecast that WK Kellogg Co. will post 1.57 earnings per share for the current year.

WK Kellogg Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 29th will be given a dividend of $0.165 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.66 dividend on an annualized basis and a yield of 2.8%. WK Kellogg's payout ratio is currently 103.13%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on KLG shares. Cowen raised WK Kellogg from a "sell" rating to a "hold" rating in a research note on Friday, July 11th. Evercore ISI upped their price objective on WK Kellogg from $19.00 to $23.00 and gave the stock an "in-line" rating in a research note on Friday, July 11th. Barclays reissued an "underweight" rating and set a $23.00 price target (up from $16.00) on shares of WK Kellogg in a research note on Monday, July 14th. Wall Street Zen raised WK Kellogg from a "sell" rating to a "hold" rating in a research note on Sunday, July 13th. Finally, TD Cowen raised WK Kellogg from a "sell" rating to a "hold" rating and raised their price objective for the company from $14.00 to $23.00 in a research note on Monday, July 14th. Two equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat, WK Kellogg has an average rating of "Hold" and a consensus target price of $20.13.

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.