Voloridge Investment Management LLC Sells 325,753 Shares of WK Kellogg Co (NYSE:KLG)

Voloridge Investment Management LLC lessened its holdings in WK Kellogg Co (NYSE:KLG - Free Report) by 67.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 156,613 shares of the company's stock after selling 325,753 shares during the quarter. Voloridge Investment Management LLC owned 0.18% of WK Kellogg worth $2,817,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Barclays PLC raised its stake in WK Kellogg by 406.6% during the third quarter. Barclays PLC now owns 128,710 shares of the company's stock worth $2,202,000 after acquiring an additional 103,301 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in WK Kellogg by 75.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 15,433 shares of the company's stock valued at $278,000 after acquiring an additional 6,631 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in WK Kellogg by 13.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 16,818 shares of the company's stock valued at $303,000 after acquiring an additional 1,955 shares during the last quarter. Inlet Private Wealth LLC boosted its holdings in shares of WK Kellogg by 1.0% during the 4th quarter. Inlet Private Wealth LLC now owns 324,040 shares of the company's stock worth $5,829,000 after buying an additional 3,200 shares in the last quarter. Finally, Spire Wealth Management acquired a new position in shares of WK Kellogg during the fourth quarter worth approximately $56,000. Institutional investors own 95.74% of the company's stock.

Analysts Set New Price Targets

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

WK Kellogg Stock Down 1.0%

NYSE:KLG traded down $0.17 during trading hours on Friday, reaching $16.92. 742,975 shares of the company traded hands, compared to its average volume of 973,825. The business's 50-day moving average price is $18.31 and its two-hundred day moving average price is $18.46. The stock has a market capitalization 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 Co has a 1 year low of $14.80 and a 1 year 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.

WK Kellogg (NYSE:KLG - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.20 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 during the quarter, compared to the consensus estimate of $677.91 million. During the same period in the previous year, the firm earned $0.37 EPS. The business's revenue was down 6.2% on a year-over-year basis. Analysts predict that WK Kellogg Co will post 1.57 earnings per share for the current year.

WK Kellogg Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors 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 3.90%. WK Kellogg's dividend payout ratio is currently 103.13%.

About WK Kellogg

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.