GAMMA Investing LLC Has $733,000 Stock Position in WK Kellogg Co. (NYSE:KLG)

GAMMA Investing LLC increased its stake in shares of WK Kellogg Co. (NYSE:KLG - Free Report) by 1,203.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,791 shares of the company's stock after buying an additional 33,968 shares during the period. GAMMA Investing LLC's holdings in WK Kellogg were worth $733,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in KLG. Truist Financial Corp lifted its position in WK Kellogg by 2.2% during the 4th quarter. Truist Financial Corp now owns 39,658 shares of the company's stock valued at $713,000 after purchasing an additional 838 shares during the period. Ancora Advisors LLC grew its stake in shares of WK Kellogg by 181.8% in the fourth quarter. Ancora Advisors LLC now owns 1,519 shares of the company's stock valued at $27,000 after buying an additional 980 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in WK Kellogg by 3.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,338 shares of the company's stock worth $672,000 after purchasing an additional 1,339 shares during the period. Halbert Hargrove Global Advisors LLC bought a new position in WK Kellogg during the fourth quarter worth $25,000. Finally, Two Sigma Advisers LP boosted its position in shares of WK Kellogg by 0.4% in the fourth quarter. Two Sigma Advisers LP now owns 391,900 shares of the company's stock valued at $7,050,000 after acquiring an additional 1,500 shares during the period. Institutional investors and hedge funds own 95.74% of the company's stock.

Analysts Set New Price Targets

Separately, Morgan Stanley began coverage on shares of WK Kellogg in a research report on Monday, March 24th. They issued an "underweight" rating and a $18.00 target price for the company. Four equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Reduce" and an average price target of $16.86.

WK Kellogg Stock Down 0.3%

Shares of NYSE KLG opened at $15.69 on Wednesday. The company has a current ratio of 0.78, a quick ratio of 0.34 and a debt-to-equity ratio of 1.54. The company has a market cap of $1.35 billion, a price-to-earnings ratio of 24.51, a PEG ratio of 1.70 and a beta of 0.35. WK Kellogg Co. has a 12 month low of $14.80 and a 12 month high of $22.21. The stock has a 50-day moving average price of $17.47 and a two-hundred day moving average price of $18.19.

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

WK Kellogg Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 4.21%. The ex-dividend date was Friday, May 30th. WK Kellogg's payout ratio is presently 103.13%.

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.

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