WK Kellogg Co. $KLG Shares Purchased by Hotchkis & Wiley Capital Management LLC

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 shares of WK Kellogg Co. (NYSE:KLG - Free Report) by 21.9% during the first quarter, according to the company in its most recent disclosure 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 approximately 0.82% of WK Kellogg worth $14,173,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in WK Kellogg by 2.8% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,224 shares of the company's stock worth $443,000 after purchasing an additional 613 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of WK Kellogg by 6.0% in the first quarter. PNC Financial Services Group Inc. now owns 11,939 shares of the company's stock valued at $238,000 after acquiring an additional 679 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings 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 valued at $214,000 after acquiring an additional 733 shares during the period. Alpha Omega Wealth Management LLC boosted its holdings in shares of WK Kellogg by 7.0% in the first quarter. Alpha Omega Wealth Management LLC now owns 13,780 shares of the company's stock valued at $275,000 after acquiring an additional 900 shares during the period. Finally, Ancora Advisors LLC boosted its holdings 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 acquiring an additional 980 shares during the period. Institutional investors and hedge funds own 95.74% of the company's stock.

WK Kellogg Price Performance

Shares of KLG traded up $0.05 on Friday, reaching $22.91. The stock had a trading volume of 985,689 shares, compared to its average volume of 1,291,866. The firm has a market capitalization of $1.98 billion, a PE ratio of 61.91 and a beta of 0.24. The company has a quick ratio of 0.47, a current ratio of 0.99 and a debt-to-equity ratio of 1.97. The firm has a 50-day moving average of $21.27 and a 200 day moving average of $19.34. 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 released its quarterly earnings results on Thursday, August 7th. The company reported $0.25 earnings per share for the quarter, missing analysts' consensus estimates of $0.28 by ($0.03). The firm had revenue of $611.52 million during the quarter, compared to analyst estimates of $653.36 million. WK Kellogg had a return on equity of 31.34% and a net margin of 1.31%.The business's revenue was down 8.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.36 EPS. Sell-side analysts expect that WK Kellogg Co. will post 1.57 EPS for the current year.

WK Kellogg Announces Dividend

The company 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. 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 is currently 178.38%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on KLG shares. TD Cowen raised 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 report on Monday, July 14th. Barclays reissued an "underweight" rating and issued a $23.00 target price (up previously from $16.00) on shares of WK Kellogg in a report on Monday, July 14th. Wall Street Zen raised WK Kellogg from a "sell" rating to a "hold" rating in a report on Sunday, July 13th. Cowen raised WK Kellogg from a "sell" rating to a "hold" rating in a report on Friday, July 11th. Finally, BNP Paribas set a $23.00 target price on WK Kellogg in a report on Friday, July 11th. Seven investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Reduce" and an average target price of $20.88.

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.