Patrick Mauro Investment Advisor INC. Acquires 16,563 Shares of WK Kellogg Co (NYSE:KLG)

Patrick Mauro Investment Advisor INC. lifted its holdings in WK Kellogg Co (NYSE:KLG - Free Report) by 35.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 63,798 shares of the company's stock after acquiring an additional 16,563 shares during the quarter. Patrick Mauro Investment Advisor INC. owned 0.07% of WK Kellogg worth $1,148,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Keybank National Association OH lifted its holdings in shares of WK Kellogg by 1.1% in the 4th quarter. Keybank National Association OH now owns 4,925,470 shares of the company's stock worth $88,609,000 after acquiring an additional 52,129 shares during the last quarter. Capital International Investors lifted its holdings in shares of WK Kellogg by 149.8% in the 4th quarter. Capital International Investors now owns 4,186,763 shares of the company's stock worth $75,320,000 after acquiring an additional 2,510,779 shares during the last quarter. Jupiter Asset Management Ltd. lifted its holdings in shares of WK Kellogg by 172.9% in the 4th quarter. Jupiter Asset Management Ltd. now owns 2,494,881 shares of the company's stock worth $44,883,000 after acquiring an additional 1,580,704 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in shares of WK Kellogg by 0.9% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,827,524 shares of the company's stock worth $32,877,000 after acquiring an additional 17,088 shares during the last quarter. Finally, Captrust Financial Advisors lifted its holdings in shares of WK Kellogg by 12.5% in the 4th quarter. Captrust Financial Advisors now owns 1,705,509 shares of the company's stock worth $30,682,000 after acquiring an additional 189,092 shares during the last quarter. 95.74% of the stock is currently owned by institutional investors.

WK Kellogg Stock Down 1.7%

Shares of WK Kellogg stock opened at $17.49 on Thursday. The company has a current ratio of 0.74, a quick ratio of 0.32 and a debt-to-equity ratio of 1.45. The company's fifty day simple moving average is $18.57 and its two-hundred day simple moving average is $18.47. The company has a market cap of $1.51 billion, a P/E ratio of 21.60, a PEG ratio of 2.01 and a beta of 0.54. WK Kellogg Co has a 12-month low of $14.80 and a 12-month high of $22.21.

WK Kellogg (NYSE:KLG - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.41 by ($0.21). The company had revenue of $667.00 million for the quarter, compared to analysts' expectations of $677.91 million. WK Kellogg had a net margin of 2.66% and a return on equity of 39.81%. The firm's revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.37 earnings per share. Research analysts anticipate that WK Kellogg Co will post 1.57 EPS for the current year.

WK Kellogg Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date is Friday, May 30th. WK Kellogg's payout ratio is currently 103.13%.

Wall Street Analyst Weigh In

KLG has been the topic of several analyst reports. Morgan Stanley initiated coverage on shares of WK Kellogg in a research note on Monday, March 24th. They issued an "underweight" rating and a $18.00 target price on the stock. Stifel Nicolaus decreased their target price on shares of WK Kellogg from $19.00 to $18.00 and set a "hold" rating on the stock in a research note on Friday, January 24th. Finally, Jefferies Financial Group decreased their target price on shares of WK Kellogg from $19.00 to $16.00 and set a "hold" rating on the stock in a research note on Tuesday, January 28th. Four equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Reduce" and a consensus target price of $16.86.

WK Kellogg Company 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.

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