Polar Asset Management Partners Inc. Takes $1.05 Million Position in WK Kellogg Co (NYSE:KLG)

Polar Asset Management Partners Inc. bought a new position in shares of WK Kellogg Co (NYSE:KLG - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 58,401 shares of the company's stock, valued at approximately $1,051,000. Polar Asset Management Partners Inc. owned 0.07% of WK Kellogg as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Western Wealth Management LLC acquired a new position in shares of WK Kellogg in the 4th quarter valued at $198,000. Patrick Mauro Investment Advisor INC. grew its holdings in shares of WK Kellogg by 35.1% in the 4th quarter. Patrick Mauro Investment Advisor INC. now owns 63,798 shares of the company's stock valued at $1,148,000 after buying an additional 16,563 shares during the period. Two Sigma Advisers LP grew its holdings in shares of WK Kellogg by 0.4% in the 4th quarter. Two Sigma Advisers LP now owns 391,900 shares of the company's stock valued at $7,050,000 after buying an additional 1,500 shares during the period. Siemens Fonds Invest GmbH acquired a new position in shares of WK Kellogg in the 4th quarter valued at $454,000. Finally, Man Group plc grew its holdings in shares of WK Kellogg by 155.1% in the 4th quarter. Man Group plc now owns 30,552 shares of the company's stock valued at $550,000 after buying an additional 18,577 shares during the period. Institutional investors and hedge funds own 95.74% of the company's stock.

WK Kellogg Stock Down 1.0%

Shares of WK Kellogg stock traded down $0.17 during trading hours on Friday, reaching $16.92. 742,975 shares of the company's stock were exchanged, compared to its average volume of 973,825. The company has a 50 day moving average of $18.31 and a two-hundred day moving average of $18.46. WK Kellogg Co has a fifty-two week low of $14.80 and a fifty-two week high of $22.21. 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 stock has a market cap of $1.46 billion, a P/E ratio of 20.89, a P/E/G ratio of 2.01 and a beta of 0.54.

WK Kellogg (NYSE:KLG - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.20 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.21). WK Kellogg had a return on equity of 39.81% and a net margin of 2.66%. The business had revenue of $667.00 million for the quarter, compared to analyst estimates of $677.91 million. During the same quarter in the prior year, the company earned $0.37 earnings per share. The company's quarterly revenue was down 6.2% on a year-over-year basis. On average, sell-side analysts forecast that WK Kellogg Co will post 1.57 EPS for the current fiscal year.

WK Kellogg Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be issued a $0.165 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.90%. WK Kellogg's payout ratio is 103.13%.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley assumed coverage on shares of WK Kellogg in a report on Monday, March 24th. They issued an "underweight" rating and a $18.00 price target for the company. Four equities research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Reduce" and an average target price of $16.86.

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.