WK Kellogg Co. $KLG Shares Purchased by Gamco Investors INC. ET AL

Key Points

• Gamco Investors INC. ET AL increased its stake in WK Kellogg Co. by 4.8%, owning a total of 433,469 shares valued at $8.6 million as of its latest SEC filing.
• WK Kellogg recently reported an earnings miss for the quarter, posting $0.25 earnings per share, which fell short of analyst estimates of $0.28, alongside an 8.8% decline in revenue year-over-year.
• The company announced a quarterly dividend of $0.165 per share, resulting in an annualized yield of 2.9%, despite a high dividend payout ratio of 178.38%.

Gamco Investors INC. ET AL lifted its holdings in WK Kellogg Co. (NYSE:KLG - Free Report) by 4.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 433,469 shares of the company's stock after buying an additional 19,701 shares during the quarter. Gamco Investors INC. ET AL owned approximately 0.50% of WK Kellogg worth $8,639,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Cowen raised WK Kellogg from a "sell" rating to a "hold" rating in a research note on Friday, July 11th. Evercore ISI increased 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. Wall Street Zen raised WK Kellogg from a "sell" rating to a "hold" rating in a research note on Sunday, July 13th. JPMorgan Chase & Co. assumed coverage on WK Kellogg in a research report on Wednesday, August 20th. They set a "neutral" rating and a $23.00 target price on the stock. Finally, TD Cowen raised WK Kellogg from a "sell" rating to a "hold" rating and increased their target price for the company from $14.00 to $23.00 in a research report on Monday, July 14th. Seven analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, WK Kellogg presently has a consensus rating of "Reduce" and a consensus price target of $20.88.

WK Kellogg Stock Performance

KLG traded down $0.11 on Monday, reaching $22.92. 1,341,877 shares of the stock were exchanged, compared to its average volume of 842,720. The company's 50-day moving average price is $21.41 and its 200 day moving average price is $19.40. WK Kellogg Co. has a fifty-two week low of $14.80 and a fifty-two week high of $23.56. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.99 and a quick ratio of 0.47. The firm has a market capitalization of $1.98 billion, a PE ratio of 61.93 and a beta of 0.24.

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

WK Kellogg Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 29th will be paid a dividend of $0.165 per share. The ex-dividend date is Friday, August 29th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.9%. WK Kellogg's dividend payout ratio (DPR) is presently 178.38%.

WK Kellogg Company 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.