LSV Asset Management Has $60.56 Million Stock Position in WK Kellogg Co. (NYSE:KLG)

Key Points

• LSV Asset Management increased its stake in WK Kellogg Co. by 280.5% during the first quarter, owning over 3 million shares valued at approximately $60.6 million.
• WK Kellogg reported a miss in earnings for the latest quarter, posting $0.20 EPS against a consensus estimate of $0.41 EPS, with revenues declining 6.2% year-over-year.
• The company announced a quarterly dividend of $0.165 per share, reflecting a 2.9% dividend yield, despite a payout ratio of over 100%.

LSV Asset Management increased its holdings in WK Kellogg Co. (NYSE:KLG - Free Report) by 280.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,038,537 shares of the company's stock after purchasing an additional 2,239,966 shares during the quarter. LSV Asset Management owned 3.53% of WK Kellogg worth $60,558,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital International Investors raised its stake in WK Kellogg by 149.8% during the 4th quarter. Capital International Investors now owns 4,186,763 shares of the company's stock valued at $75,320,000 after purchasing an additional 2,510,779 shares during the period. Wellington Management Group LLP acquired a new stake in WK Kellogg during the 4th quarter valued at $14,737,000. Universal Beteiligungs und Servicegesellschaft mbH raised its stake in WK Kellogg by 254.0% during the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 392,461 shares of the company's stock valued at $7,822,000 after purchasing an additional 281,600 shares during the period. Captrust Financial Advisors raised its stake in WK Kellogg by 12.5% during the 4th quarter. Captrust Financial Advisors now owns 1,705,509 shares of the company's stock valued at $30,682,000 after purchasing an additional 189,092 shares during the period. Finally, GSA Capital Partners LLP raised its stake in WK Kellogg by 500.5% during the 1st quarter. GSA Capital Partners LLP now owns 160,791 shares of the company's stock valued at $3,205,000 after purchasing an additional 134,013 shares during the period. 95.74% of the stock is currently owned by institutional investors.

WK Kellogg Stock Performance

Shares of NYSE KLG traded down $0.15 during trading hours on Thursday, hitting $23.06. 191,481 shares of the stock were exchanged, compared to its average volume of 1,336,343. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.78 and a quick ratio of 0.34. The company's 50 day moving average is $18.99 and its 200 day moving average is $18.63. The firm has a market capitalization of $1.99 billion, a P/E ratio of 36.02 and a beta of 0.24. WK Kellogg Co. has a one year low of $14.80 and a one year high of $23.56.

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

WK Kellogg Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 29th will be issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, August 29th. WK Kellogg's dividend payout ratio is currently 103.13%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Wall Street Zen upgraded shares of WK Kellogg from a "sell" rating to a "hold" rating in a research note on Sunday, July 13th. Cowen upgraded shares of WK Kellogg from a "sell" rating to a "hold" rating in a research note on Friday, July 11th. Barclays reiterated an "underweight" rating and issued a $23.00 price objective (up previously from $16.00) on shares of WK Kellogg in a research note on Monday, July 14th. Evercore ISI upped their price objective on shares of WK Kellogg from $19.00 to $23.00 and gave the company an "in-line" rating in a research note on Friday, July 11th. Finally, TD Cowen upgraded shares of WK Kellogg from a "sell" rating to a "hold" rating and increased their price target for the stock from $14.00 to $23.00 in a research note on Monday, July 14th. Two research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $20.13.

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.