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

Polar Asset Management Partners Inc. purchased a new stake in WK Kellogg Co (NYSE:KLG - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 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 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital International Investors raised its position 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 valued at $75,320,000 after buying an additional 2,510,779 shares in the last quarter. Jupiter Asset Management Ltd. increased its stake in WK Kellogg by 172.9% in the fourth quarter. Jupiter Asset Management Ltd. now owns 2,494,881 shares of the company's stock valued at $44,883,000 after acquiring an additional 1,580,704 shares during the last quarter. Wellington Management Group LLP acquired a new position in WK Kellogg during the fourth quarter valued at approximately $14,737,000. LSV Asset Management raised its position in WK Kellogg by 572.9% during the fourth quarter. LSV Asset Management now owns 798,571 shares of the company's stock valued at $14,366,000 after purchasing an additional 679,888 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in WK Kellogg by 1,217.5% during the fourth quarter. Victory Capital Management Inc. now owns 233,997 shares of the company's stock worth $4,210,000 after purchasing an additional 216,236 shares during the last quarter. Institutional investors own 95.74% of the company's stock.

WK Kellogg Trading Down 1.7%

Shares of WK Kellogg stock traded down $0.31 on Wednesday, hitting $17.49. The stock had a trading volume of 552,119 shares, compared to its average volume of 978,612. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.32 and a current ratio of 0.74. WK Kellogg Co has a twelve month low of $14.80 and a twelve month high of $22.21. The stock has a 50 day moving average of $18.62 and a 200 day moving average of $18.47. The firm has a market capitalization 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 (NYSE:KLG - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.21). The business had revenue of $667.00 million during 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%. The business's revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.37 EPS. Sell-side analysts expect that WK Kellogg Co will post 1.57 earnings per share for the current fiscal year.

WK Kellogg Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be given 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 3.77%. WK Kellogg's dividend payout ratio (DPR) is presently 103.13%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on KLG. Morgan Stanley started coverage on WK Kellogg in a research 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 on the stock in a report on Tuesday, January 28th. Finally, Stifel Nicolaus dropped their price objective on shares of WK Kellogg from $19.00 to $18.00 and set a "hold" rating for the company in a research note on Friday, January 24th. Four investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. Based on data from MarketBeat, WK Kellogg presently has an average rating of "Reduce" and an average 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.