Public Sector Pension Investment Board Has $4.19 Million Position in WK Kellogg Co. $KLG

Public Sector Pension Investment Board raised its stake in WK Kellogg Co. (NYSE:KLG - Free Report) by 26.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 210,241 shares of the company's stock after acquiring an additional 44,568 shares during the quarter. Public Sector Pension Investment Board owned about 0.24% of WK Kellogg worth $4,190,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in KLG. Ancora Advisors LLC increased its position in WK Kellogg by 181.8% in the 4th quarter. Ancora Advisors LLC now owns 1,519 shares of the company's stock valued at $27,000 after acquiring an additional 980 shares in the last quarter. Curat Global LLC acquired a new stake in WK Kellogg in the 1st quarter valued at about $66,000. Whittier Trust Co. of Nevada Inc. increased its position in WK Kellogg by 1,030.8% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 3,675 shares of the company's stock valued at $73,000 after acquiring an additional 3,350 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in WK Kellogg in the 4th quarter valued at about $94,000. Finally, Tower Research Capital LLC TRC increased its position in WK Kellogg by 122.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,981 shares of the company's stock valued at $144,000 after acquiring an additional 4,393 shares in the last quarter. Institutional investors and hedge funds own 95.74% of the company's stock.

Wall Street Analyst Weigh In

KLG has been the subject of several analyst reports. Wall Street Zen upgraded shares of WK Kellogg from a "sell" rating to a "hold" rating in a research report on Sunday, July 13th. TD Cowen raised shares of WK Kellogg from a "sell" rating to a "hold" rating and boosted their price target for the stock from $14.00 to $23.00 in a research note on Monday, July 14th. Barclays reissued an "underweight" rating and set a $23.00 price target (up from $16.00) on shares of WK Kellogg in a research note on Monday, July 14th. Evercore ISI boosted their price target on shares of WK Kellogg from $19.00 to $23.00 and gave the stock an "in-line" rating in a research note on Friday, July 11th. Finally, JPMorgan Chase & Co. started coverage on shares of WK Kellogg in a research note on Wednesday. They set a "neutral" rating and a $23.00 price target for the company. Seven equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Reduce" and a consensus target price of $20.88.

WK Kellogg Trading Up 0.2%

Shares of WK Kellogg stock traded up $0.0350 during trading on Wednesday, hitting $22.9950. 1,106,074 shares of the company were exchanged, compared to its average volume of 1,315,690. The firm has a market capitalization of $1.99 billion, a P/E ratio of 62.15 and a beta of 0.24. WK Kellogg Co. has a 1-year low of $14.80 and a 1-year high of $23.56. The firm's fifty day moving average price is $20.24 and its 200 day moving average price is $19.03. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.99 and a quick ratio of 0.47.

WK Kellogg (NYSE:KLG - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.03). The company had revenue of $611.52 million for the quarter, compared to analyst estimates of $653.36 million. WK Kellogg had a return on equity of 31.34% and a net margin of 1.31%.WK Kellogg's quarterly revenue was down 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.36 earnings per share. As a group, sell-side analysts expect that WK Kellogg Co. will post 1.57 earnings per share for the current fiscal year.

WK Kellogg Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 29th will be given a dividend of $0.165 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.9%. WK Kellogg's dividend payout ratio (DPR) is currently 178.38%.

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.