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

Patrick Mauro Investment Advisor INC. increased its position in shares of WK Kellogg Co (NYSE:KLG - Free Report) by 35.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 63,798 shares of the company's stock after purchasing 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 reporting period.

Several other institutional investors have also recently bought and sold shares of KLG. Keybank National Association OH grew its position in WK Kellogg by 1.1% during the fourth quarter. Keybank National Association OH now owns 4,925,470 shares of the company's stock valued at $88,609,000 after buying an additional 52,129 shares during the period. Capital International Investors raised its holdings in shares of WK Kellogg by 149.8% during the fourth quarter. Capital International Investors now owns 4,186,763 shares of the company's stock valued at $75,320,000 after acquiring an additional 2,510,779 shares in the last quarter. Jupiter Asset Management Ltd. increased its stake 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 in the last quarter. D. E. Shaw & Co. Inc. grew its position in WK Kellogg by 0.9% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,827,524 shares of the company's stock valued at $32,877,000 after purchasing an additional 17,088 shares during the last quarter. Finally, Captrust Financial Advisors grew its position in WK Kellogg by 12.5% during the fourth quarter. Captrust Financial Advisors now owns 1,705,509 shares of the company's stock valued at $30,682,000 after buying an additional 189,092 shares during the period. Institutional investors and hedge funds own 95.74% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on KLG shares. Morgan Stanley initiated coverage on shares of WK Kellogg in a report on Monday, March 24th. They issued an "underweight" rating and a $18.00 target price on the stock. Jefferies Financial Group decreased their price target on shares of WK Kellogg from $19.00 to $16.00 and set a "hold" rating for the company in a research report on Tuesday, January 28th. Four equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to MarketBeat, WK Kellogg presently has an average rating of "Reduce" and a consensus price target of $16.86.

WK Kellogg Stock Performance

NYSE:KLG traded up $0.36 during midday trading on Tuesday, reaching $17.55. 165,125 shares of the company traded hands, compared to its average volume of 974,318. WK Kellogg Co has a twelve month low of $14.80 and a twelve month high of $22.21. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.74 and a quick ratio of 0.32. The company has a fifty day moving average price of $18.43 and a 200 day moving average price of $18.47. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of 21.67, a price-to-earnings-growth ratio of 2.01 and a beta of 0.54.

WK Kellogg (NYSE:KLG - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.21). The company 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 39.81% and a net margin of 2.66%. WK Kellogg's quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.37 EPS. On average, analysts expect that WK Kellogg Co will post 1.57 EPS for the current fiscal year.

WK Kellogg Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be paid a $0.165 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.66 annualized dividend and a yield of 3.76%. WK Kellogg's dividend payout ratio is 103.13%.

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.