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

Polar Asset Management Partners Inc. bought a new stake in shares of WK Kellogg Co (NYSE:KLG - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 58,401 shares of the company's stock, valued at approximately $1,051,000. Polar Asset Management Partners Inc. owned approximately 0.07% of WK Kellogg at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of KLG. Charles Schwab Investment Management Inc. increased its stake in shares of WK Kellogg by 11.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,240,046 shares of the company's stock worth $22,308,000 after acquiring an additional 127,488 shares during the last quarter. Victory Capital Management Inc. grew its stake in WK Kellogg by 1,217.5% in the fourth quarter. Victory Capital Management Inc. now owns 233,997 shares of the company's stock valued at $4,210,000 after purchasing an additional 216,236 shares in the last quarter. Royce & Associates LP increased its position in WK Kellogg by 46.0% in the 4th quarter. Royce & Associates LP now owns 105,134 shares of the company's stock worth $1,891,000 after purchasing an additional 33,147 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of WK Kellogg during the 4th quarter worth about $273,000. Finally, Alberta Investment Management Corp acquired a new stake in shares of WK Kellogg during the 4th quarter valued at about $2,022,000. Hedge funds and other institutional investors own 95.74% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Stifel Nicolaus dropped their price objective on WK Kellogg from $19.00 to $18.00 and set a "hold" rating on the stock in a report on Friday, January 24th. Morgan Stanley started coverage on shares of WK Kellogg in a research note on Monday, March 24th. They set an "underweight" rating and a $18.00 price target on the stock. Finally, Jefferies Financial Group cut their price target on shares of WK Kellogg from $19.00 to $16.00 and set a "hold" rating on the stock in a report on Tuesday, January 28th. Four research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and an average target price of $16.86.

WK Kellogg Stock Performance

KLG traded down $0.36 on Friday, hitting $17.09. The company had a trading volume of 162,580 shares, compared to its average volume of 975,410. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of 21.10, a price-to-earnings-growth ratio of 2.01 and a beta of 0.54. 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's fifty day moving average price is $18.52 and its 200 day moving average price is $18.47. WK Kellogg Co has a 1-year low of $14.80 and a 1-year high of $22.21.

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). WK Kellogg had a return on equity of 39.81% and a net margin of 2.66%. The firm had revenue of $667.00 million for the quarter, compared to the consensus estimate of $677.91 million. During the same period in the prior year, the company posted $0.37 earnings per share. WK Kellogg's quarterly revenue was down 6.2% on a year-over-year basis. Equities analysts predict that WK Kellogg Co will post 1.57 earnings per share for the current fiscal year.

WK Kellogg Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be paid 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 3.86%. WK Kellogg's payout ratio is presently 103.13%.

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.