XTX Topco Ltd Has $1.25 Million Stock Holdings in WK Kellogg Co. (NYSE:KLG)

Key Points

• XTX Topco Ltd has significantly increased its stake in WK Kellogg Co. by 170.3%, now owning 62,448 shares valued at approximately $1.25 million.
• WK Kellogg recently reported earnings per share of $0.20 for the last quarter, which missed analyst expectations by $0.21, while revenue declined by 6.2% year-over-year.
• The company announced a $0.165 quarterly dividend, with a yield of 2.9%, despite a high dividend payout ratio of 103.13%.

XTX Topco Ltd increased its position in shares of WK Kellogg Co. (NYSE:KLG - Free Report) by 170.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,448 shares of the company's stock after acquiring an additional 39,346 shares during the period. XTX Topco Ltd owned about 0.07% of WK Kellogg worth $1,245,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of KLG. Dynamic Technology Lab Private Ltd bought a new stake in WK Kellogg in the fourth quarter worth $273,000. Cambridge Investment Research Advisors Inc. lifted its position in shares of WK Kellogg by 7.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 10,757 shares of the company's stock worth $214,000 after buying an additional 733 shares during the last quarter. Exchange Traded Concepts LLC acquired a new stake in shares of WK Kellogg in the first quarter worth about $1,892,000. Oppenheimer & Co. Inc. boosted its stake in shares of WK Kellogg by 110.6% during the 1st quarter. Oppenheimer & Co. Inc. now owns 26,994 shares of the company's stock worth $538,000 after acquiring an additional 14,175 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of WK Kellogg during the 4th quarter valued at about $754,000. Institutional investors and hedge funds own 95.74% of the company's stock.

WK Kellogg Trading Up 0.2%

Shares of KLG stock opened at $23.09 on Friday. The firm has a market capitalization of $1.99 billion, a P/E ratio of 36.08 and a beta of 0.23. WK Kellogg Co. has a 1 year low of $14.80 and a 1 year high of $23.56. The firm's fifty day simple moving average is $18.63 and its 200 day simple moving average is $18.48. 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 (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.21). WK Kellogg had a net margin of 2.14% and a return on equity of 34.88%. The firm had revenue of $667.00 million for the quarter, compared to the consensus estimate of $677.91 million. During the same quarter in the prior year, the firm earned $0.37 earnings per share. The company's revenue was down 6.2% on a year-over-year basis. As a group, sell-side analysts predict that WK Kellogg Co. will post 1.57 EPS for the current 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 yield of 2.9%. The ex-dividend date of this dividend is Friday, August 29th. WK Kellogg's dividend payout ratio (DPR) is 103.13%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Cowen upgraded WK Kellogg from a "sell" rating to a "hold" rating in a report on Friday, July 11th. Wall Street Zen raised shares of WK Kellogg from a "sell" rating to a "hold" rating in a research report on Sunday, July 13th. BNP Paribas set a $23.00 price objective on shares of WK Kellogg in a research note on Friday, July 11th. TD Cowen upgraded shares of WK Kellogg from a "sell" rating to a "hold" rating and raised their target price for the company from $14.00 to $23.00 in a research note on Monday, July 14th. Finally, Barclays reiterated 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. Two analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus 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.

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