WK Kellogg Co. $KLG Shares Acquired by Public Sector Pension Investment Board

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

Other institutional investors have also recently modified their holdings of the company. Ancora Advisors LLC grew its stake in shares of WK Kellogg by 181.8% in the fourth quarter. Ancora Advisors LLC now owns 1,519 shares of the company's stock worth $27,000 after acquiring an additional 980 shares during the last quarter. Curat Global LLC purchased a new stake in shares of WK Kellogg in the first quarter worth $66,000. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of WK Kellogg by 1,030.8% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 3,675 shares of the company's stock valued at $73,000 after purchasing an additional 3,350 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in shares of WK Kellogg during the fourth quarter valued at $94,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of WK Kellogg by 122.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,981 shares of the company's stock valued at $144,000 after purchasing an additional 4,393 shares in the last quarter. 95.74% of the stock is owned by hedge funds and other institutional investors.

WK Kellogg Stock Performance

Shares of NYSE KLG traded up $0.0150 during trading on Friday, hitting $23.0050. The company had a trading volume of 128,623 shares, compared to its average volume of 1,303,504. The stock has a 50 day simple moving average of $20.53 and a 200 day simple moving average of $19.11. The firm has a market capitalization of $1.99 billion, a P/E ratio of 62.18 and a beta of 0.24. WK Kellogg Co. has a 12 month low of $14.80 and a 12 month high of $23.56. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.47 and a current ratio of 0.99.

WK Kellogg (NYSE:KLG - Get Free Report) last issued 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 business had revenue of $611.52 million for the quarter, compared to the consensus estimate of $653.36 million. WK Kellogg had a net margin of 1.31% and a return on equity of 31.34%. The firm's revenue for the quarter was down 8.8% compared to the same quarter last year. During the same period last year, the business posted $0.36 EPS. As a group, analysts anticipate that WK Kellogg Co. will post 1.57 earnings per share for the current year.

WK Kellogg Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders 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 yield of 2.9%. WK Kellogg's payout ratio is 178.38%.

Wall Street Analysts Forecast Growth

KLG has been the topic of a number of research analyst reports. JPMorgan Chase & Co. initiated coverage on WK Kellogg in a report on Wednesday. They set a "neutral" rating and a $23.00 price target on the stock. Cowen raised WK Kellogg from a "sell" rating to a "hold" rating in a report on Friday, July 11th. TD Cowen raised WK Kellogg from a "sell" rating to a "hold" rating and increased their target price for the company from $14.00 to $23.00 in a report on Monday, July 14th. BNP Paribas set a $23.00 target price on WK Kellogg in a report on Friday, July 11th. Finally, Barclays reissued an "underweight" rating and issued a $23.00 target price (up previously from $16.00) on shares of WK Kellogg in a report on Monday, July 14th. Seven research analysts have rated the stock with a Hold rating and two have assigned 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 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.