Keeley Teton Advisors LLC Purchases 16,750 Shares of WK Kellogg Co. $KLG

Key Points

• Keeley Teton Advisors LLC increased its stake in WK Kellogg Co. to 471,096 shares, making it the firm’s 5th largest position valued at approximately $9.39 million.
• WK Kellogg reported a 0.25 EPS for the quarter, missing estimates and showing an 8.8% decrease in revenue year-over-year.
• The company announced a quarterly dividend of $0.165 per share, with a dividend yield of 2.9% and a high payout ratio of 178.38%.

Keeley Teton Advisors LLC raised its stake in WK Kellogg Co. (NYSE:KLG - Free Report) by 3.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 471,096 shares of the company's stock after buying an additional 16,750 shares during the quarter. WK Kellogg comprises approximately 1.1% of Keeley Teton Advisors LLC's investment portfolio, making the stock its 5th biggest holding. Keeley Teton Advisors LLC owned 0.55% of WK Kellogg worth $9,389,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of KLG. Vanguard Group Inc. lifted its position 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 purchasing an additional 245,555 shares in the last quarter. Credit Agricole S A lifted its position 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 purchasing an additional 403,970 shares in the last quarter. LSV Asset Management lifted its position in shares of 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. lifted its position in shares of 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. lifted its position in shares of 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. Institutional investors own 95.74% of the company's stock.

WK Kellogg Stock Performance

Shares of KLG traded down $0.11 during trading hours on Friday, hitting $22.92. The company had a trading volume of 1,341,877 shares, compared to its average volume of 817,324. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of 61.93 and a beta of 0.24. The business has a fifty day moving average of $21.41 and a 200-day moving average of $19.39. WK Kellogg Co. has a 12 month low of $14.80 and a 12 month high of $23.56. The company has a quick ratio of 0.47, a current ratio of 0.99 and a debt-to-equity ratio of 1.97.

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

WK Kellogg Announces Dividend

The company 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. This represents a $0.66 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Friday, August 29th. WK Kellogg's dividend payout ratio is presently 178.38%.

Wall Street Analysts Forecast Growth

KLG has been the topic of a number of research reports. BNP Paribas set a $23.00 price objective on shares of WK Kellogg in a research report on Friday, July 11th. Wall Street Zen raised shares of WK Kellogg from a "sell" rating to a "hold" rating in a research report on Sunday, July 13th. JPMorgan Chase & Co. assumed coverage on shares of WK Kellogg in a research report on Wednesday, August 20th. They set a "neutral" rating and a $23.00 price target on the stock. Cowen raised shares of WK Kellogg from a "sell" rating to a "hold" rating in a research report on Friday, July 11th. Finally, TD Cowen raised shares of WK Kellogg from a "sell" rating to a "hold" rating and upped their price target for the stock from $14.00 to $23.00 in a research report on Monday, July 14th. Seven equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, WK Kellogg has a consensus rating of "Reduce" and a consensus target price of $20.88.

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.