GSA Capital Partners LLP Buys 134,013 Shares of WK Kellogg Co. (NYSE:KLG)

Key Points

• GSA Capital Partners LLP significantly increased its stake in WK Kellogg Co. by 500.5% during the first quarter, now holding 160,791 shares worth approximately $3.2 million.
• Despite recent positive analyst upgrades, WK Kellogg reported a net loss in earnings per share for the most recent quarter, missing estimates by ($0.21) and seeing a year-over-year revenue decline of 6.2%.
• WK Kellogg declared a quarterly dividend of $0.165 per share, resulting in an annualized dividend yield of 2.85%, although the company currently has a high dividend payout ratio of 103.13%.

GSA Capital Partners LLP grew its holdings in shares of WK Kellogg Co. (NYSE:KLG - Free Report) by 500.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 160,791 shares of the company's stock after purchasing an additional 134,013 shares during the period. WK Kellogg makes up about 0.3% of GSA Capital Partners LLP's holdings, making the stock its 7th biggest position. GSA Capital Partners LLP owned approximately 0.19% of WK Kellogg worth $3,205,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Capital International Investors grew its holdings 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 worth $75,320,000 after acquiring an additional 2,510,779 shares during the period. Wellington Management Group LLP acquired a new stake in shares of WK Kellogg in the 4th quarter worth approximately $14,737,000. LSV Asset Management grew its holdings in shares of WK Kellogg by 572.9% in the 4th quarter. LSV Asset Management now owns 798,571 shares of the company's stock worth $14,366,000 after acquiring an additional 679,888 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in shares of WK Kellogg by 254.0% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 392,461 shares of the company's stock worth $7,822,000 after acquiring an additional 281,600 shares during the period. Finally, Captrust Financial Advisors grew its holdings in shares of WK Kellogg by 12.5% in the 4th quarter. Captrust Financial Advisors now owns 1,705,509 shares of the company's stock worth $30,682,000 after acquiring an additional 189,092 shares during the period. Institutional investors and hedge funds own 95.74% of the company's stock.

WK Kellogg Trading Up 0.1%

Shares of WK Kellogg stock traded up $0.02 during trading hours on Friday, reaching $23.07. 590,190 shares of the company's stock were exchanged, compared to its average volume of 1,354,455. WK Kellogg Co. has a 52-week low of $14.80 and a 52-week high of $23.56. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of 36.07 and a beta of 0.23. The company has a fifty day moving average of $18.52 and a 200-day moving average of $18.42. The company has a current ratio of 0.78, a quick ratio of 0.34 and a debt-to-equity ratio of 1.54.

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 34.88% and a net margin of 2.14%. The business had revenue of $667.00 million for the quarter, compared to analysts' expectations of $677.91 million. During the same period in the prior year, the company earned $0.37 EPS. The company's revenue for the quarter was down 6.2% compared to the same quarter last year. Sell-side analysts forecast that WK Kellogg Co. will post 1.57 EPS for the current fiscal year.

WK Kellogg Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 29th will be given a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 2.9%. WK Kellogg's dividend payout ratio (DPR) is currently 103.13%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Evercore ISI increased their target price on WK Kellogg from $19.00 to $23.00 and gave the company an "in-line" rating in a report on Friday, July 11th. Barclays reiterated an "underweight" rating and set a $23.00 target price (up previously from $16.00) on shares of WK Kellogg in a report on Monday, July 14th. TD Cowen upgraded 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. Wall Street Zen upgraded WK Kellogg from a "sell" rating to a "hold" rating in a report on Sunday, July 13th. Finally, Cowen upgraded WK Kellogg from a "sell" rating to a "hold" rating in a report on Friday, July 11th. Two research analysts have rated the stock with a sell rating and eight have given a hold rating to the company's stock. According to MarketBeat, WK Kellogg presently has an average rating of "Hold" and an average target price of $20.13.

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.