Wellington Management Group LLP Acquires New Holdings in WK Kellogg Co (NYSE:KLG)

Wellington Management Group LLP purchased a new stake in WK Kellogg Co (NYSE:KLG - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 819,201 shares of the company's stock, valued at approximately $14,737,000. Wellington Management Group LLP owned about 0.95% of WK Kellogg as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Truist Financial Corp grew its position in shares of WK Kellogg by 2.2% during the 4th quarter. Truist Financial Corp now owns 39,658 shares of the company's stock worth $713,000 after purchasing an additional 838 shares in the last quarter. Ancora Advisors LLC grew its position in shares of WK Kellogg by 181.8% during the 4th quarter. Ancora Advisors LLC now owns 1,519 shares of the company's stock worth $27,000 after purchasing an additional 980 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of WK Kellogg by 3.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,338 shares of the company's stock worth $672,000 after purchasing an additional 1,339 shares in the last quarter. Halbert Hargrove Global Advisors LLC acquired a new position in shares of WK Kellogg during the 4th quarter worth approximately $25,000. Finally, Two Sigma Advisers LP grew its position in shares of WK Kellogg by 0.4% during the 4th quarter. Two Sigma Advisers LP now owns 391,900 shares of the company's stock worth $7,050,000 after purchasing an additional 1,500 shares in the last quarter. Institutional investors and hedge funds own 95.74% of the company's stock.

Wall Street Analysts Forecast Growth

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

WK Kellogg Price Performance

Shares of WK Kellogg stock traded down $0.08 on Thursday, reaching $15.66. 999,162 shares of the stock were exchanged, compared to its average volume of 975,830. The firm's 50 day moving average is $18.11 and its 200-day moving average is $18.42. WK Kellogg Co has a one year low of $14.80 and a one year high of $22.21. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.32 and a current ratio of 0.74. The firm has a market cap of $1.35 billion, a PE ratio of 19.33, a P/E/G ratio of 2.01 and a beta of 0.54.

WK Kellogg (NYSE:KLG - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.20 earnings per share for the quarter, missing analysts' consensus estimates 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 last year, the company posted $0.37 EPS. The business's revenue was down 6.2% on a year-over-year basis. As a group, analysts anticipate that WK Kellogg Co will post 1.57 EPS for the current fiscal year.

WK Kellogg Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date is Friday, May 30th. WK Kellogg's dividend payout ratio (DPR) is presently 103.13%.

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.