Hotchkis & Wiley Capital Management LLC Purchases 127,580 Shares of WK Kellogg Co. $KLG

Key Points

• Hotchkis & Wiley Capital Management LLC increased its stake in WK Kellogg Co. by 21.9%, acquiring an additional 127,580 shares to reach a total of 711,150 shares valued at $14.173 million.
• WK Kellogg recently reported earnings per share (EPS) of $0.25 for the latest quarter, falling short of analysts' expectations of $0.28, with quarterly revenue down 8.8% year-over-year.
• The company's quarterly dividend of $0.165 will be paid on September 12th, reflecting a yield of 2.9%, while the stock's payout ratio stands at 178.38%.

Hotchkis & Wiley Capital Management LLC grew its stake in WK Kellogg Co. (NYSE:KLG - Free Report) by 21.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 711,150 shares of the company's stock after purchasing an additional 127,580 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned about 0.82% of WK Kellogg worth $14,173,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in KLG. Ancora Advisors LLC increased its stake in shares of WK Kellogg by 181.8% in the 4th quarter. Ancora Advisors LLC now owns 1,519 shares of the company's stock worth $27,000 after acquiring an additional 980 shares in the last quarter. Curat Global LLC bought a new position in shares of WK Kellogg in the 1st quarter worth about $66,000. Whittier Trust Co. of Nevada Inc. grew its position in WK Kellogg by 1,030.8% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 3,675 shares of the company's stock valued at $73,000 after purchasing an additional 3,350 shares during the last quarter. Quantbot Technologies LP purchased a new stake in WK Kellogg during the 1st quarter valued at about $87,000. Finally, Canada Pension Plan Investment Board purchased a new stake in WK Kellogg during the 4th quarter valued at about $94,000. 95.74% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on KLG shares. TD Cowen raised shares of WK Kellogg from a "sell" rating to a "hold" rating and increased their price objective for the company from $14.00 to $23.00 in a research report on Monday, July 14th. Cowen upgraded shares of WK Kellogg from a "sell" rating to a "hold" rating in a research note on Friday, July 11th. Barclays reissued an "underweight" rating and issued a $23.00 price objective (up previously from $16.00) on shares of WK Kellogg in a report on Monday, July 14th. JPMorgan Chase & Co. assumed coverage on shares of WK Kellogg in a report on Wednesday, August 20th. They issued a "neutral" rating and a $23.00 price objective on the stock. Finally, Wall Street Zen raised shares of WK Kellogg from a "sell" rating to a "hold" rating in a report on Sunday, July 13th. Seven research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, WK Kellogg currently has an average rating of "Reduce" and an average price target of $20.88.

WK Kellogg Price Performance

Shares of WK Kellogg stock traded up $0.01 on Thursday, hitting $23.03. 546,137 shares of the company traded hands, compared to its average volume of 1,293,773. The stock has a market capitalization of $1.99 billion, a P/E ratio of 62.24 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 52 week low of $14.80 and a 52 week high of $23.56. The business has a 50-day simple moving average of $21.12 and a 200 day simple moving average of $19.29.

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

WK Kellogg Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 29th will be given a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 2.9%. The ex-dividend date is Friday, August 29th. WK Kellogg's payout ratio is currently 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.