Man Group plc Has $550,000 Stock Holdings in WK Kellogg Co (NYSE:KLG)

Man Group plc raised its stake in WK Kellogg Co (NYSE:KLG - Free Report) by 155.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,552 shares of the company's stock after purchasing an additional 18,577 shares during the quarter. Man Group plc's holdings in WK Kellogg were worth $550,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Keybank National Association OH lifted its position in shares of WK Kellogg by 1.1% during the fourth quarter. Keybank National Association OH now owns 4,925,470 shares of the company's stock worth $88,609,000 after purchasing an additional 52,129 shares in the last quarter. Capital International Investors lifted its holdings in WK Kellogg by 149.8% in the fourth 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 last quarter. Jupiter Asset Management Ltd. grew its stake in WK Kellogg by 172.9% during the 4th quarter. Jupiter Asset Management Ltd. now owns 2,494,881 shares of the company's stock worth $44,883,000 after buying an additional 1,580,704 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its stake in WK Kellogg by 0.9% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,827,524 shares of the company's stock valued at $32,877,000 after purchasing an additional 17,088 shares during the period. Finally, Captrust Financial Advisors increased its position in WK Kellogg by 12.5% in the 4th quarter. Captrust Financial Advisors now owns 1,705,509 shares of the company's stock valued at $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 Price Performance

Shares of KLG traded up $0.06 during mid-day trading on Friday, reaching $16.98. The company had a trading volume of 88,222 shares, compared to its average volume of 971,024. The company's 50-day moving average is $18.34 and its 200-day moving average is $18.45. WK Kellogg Co has a twelve month low of $14.80 and a twelve month high of $22.21. The company has a market capitalization of $1.46 billion, a P/E ratio of 20.97, a P/E/G ratio of 2.01 and a beta of 0.54. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.74 and a quick ratio of 0.32.

WK Kellogg (NYSE:KLG - Get Free Report) last announced its 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 company had revenue of $667.00 million during the quarter, compared to the consensus estimate of $677.91 million. During the same period in the prior year, the firm posted $0.37 earnings per share. The company's revenue was down 6.2% on a year-over-year basis. On average, equities analysts anticipate that WK Kellogg Co will post 1.57 EPS for the current year.

WK Kellogg Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be given a dividend of $0.165 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.66 annualized dividend and a dividend yield of 3.89%. WK Kellogg's payout ratio is currently 103.13%.

Analyst Ratings Changes

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

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.