XTX Topco Ltd Purchases 39,346 Shares of 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 boosted its stake in WK Kellogg Co. (NYSE:KLG - Free Report) by 170.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 62,448 shares of the company's stock after purchasing an additional 39,346 shares during the quarter. XTX Topco Ltd owned about 0.07% of WK Kellogg worth $1,245,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Ancora Advisors LLC grew its stake in WK Kellogg by 181.8% during the 4th quarter. Ancora Advisors LLC now owns 1,519 shares of the company's stock valued at $27,000 after purchasing an additional 980 shares during the last quarter. Curat Global LLC purchased a new stake in WK Kellogg during the 1st quarter worth approximately $66,000. Whittier Trust Co. of Nevada Inc. raised its holdings in WK Kellogg by 1,030.8% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 3,675 shares of the company's stock valued at $73,000 after acquiring an additional 3,350 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of WK Kellogg in the 4th quarter valued at about $94,000. Finally, Tower Research Capital LLC TRC grew its holdings in shares of WK Kellogg by 122.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,981 shares of the company's stock worth $144,000 after purchasing an additional 4,393 shares during the last quarter. Hedge funds and other institutional investors own 95.74% of the company's stock.

WK Kellogg Stock Performance

Shares of KLG traded up $0.04 during midday trading on Wednesday, reaching $23.17. 624,565 shares of the stock were exchanged, compared to its average volume of 1,344,287. The company has a quick ratio of 0.34, a current ratio of 0.78 and a debt-to-equity ratio of 1.54. The stock's 50 day simple moving average is $18.87 and its 200 day simple moving average is $18.59. WK Kellogg Co. has a twelve month low of $14.80 and a twelve month high of $23.56. The company has a market cap of $2.00 billion, a P/E ratio of 36.20 and a beta of 0.24.

WK Kellogg (NYSE:KLG - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.20 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.21). WK Kellogg had a net margin of 2.14% and a return on equity of 34.88%. The company had revenue of $667.00 million during the quarter, compared to the consensus estimate of $677.91 million. During the same quarter last year, the firm posted $0.37 EPS. The company's quarterly revenue was down 6.2% on a year-over-year basis. On average, sell-side analysts expect that WK Kellogg Co. will post 1.57 earnings per share for the current year.

WK Kellogg Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 29th will be given a dividend of $0.165 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.66 annualized dividend and a dividend yield of 2.8%. WK Kellogg's dividend payout ratio (DPR) is 103.13%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on KLG. TD Cowen upgraded shares of WK Kellogg from a "sell" rating to a "hold" rating and lifted their price objective for the company from $14.00 to $23.00 in a research 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. Barclays reiterated an "underweight" rating and issued a $23.00 price target (up from $16.00) on shares of WK Kellogg in a research note on Monday, July 14th. Cowen raised WK Kellogg from a "sell" rating to a "hold" rating in a research note on Friday, July 11th. Finally, BNP Paribas set a $23.00 target price on shares of WK Kellogg in a report on Friday, July 11th. Two research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $20.13.

WK Kellogg Company 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.