Gotham Asset Management LLC Grows Position in WK Kellogg Co (NYSE:KLG)

Gotham Asset Management LLC increased its position in shares of WK Kellogg Co (NYSE:KLG - Free Report) by 21.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 128,961 shares of the company's stock after purchasing an additional 22,496 shares during the quarter. Gotham Asset Management LLC owned 0.15% of WK Kellogg worth $2,320,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. 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 valued at $75,320,000 after acquiring an additional 2,510,779 shares during the period. Jupiter Asset Management Ltd. lifted its holdings in WK Kellogg by 172.9% in the fourth quarter. Jupiter Asset Management Ltd. now owns 2,494,881 shares of the company's stock valued at $44,883,000 after acquiring an additional 1,580,704 shares during the period. Wellington Management Group LLP acquired a new position in WK Kellogg in the fourth quarter valued at approximately $14,737,000. LSV Asset Management lifted its holdings in WK Kellogg by 572.9% in the fourth quarter. LSV Asset Management now owns 798,571 shares of the company's stock valued at $14,366,000 after acquiring an additional 679,888 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in WK Kellogg by 1,217.5% in the fourth quarter. Victory Capital Management Inc. now owns 233,997 shares of the company's stock valued at $4,210,000 after acquiring an additional 216,236 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 down $0.38 during trading hours on Monday, hitting $17.88. 615,462 shares of the stock were exchanged, compared to its average volume of 978,987. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.32 and a current ratio of 0.74. WK Kellogg Co has a 12-month low of $14.80 and a 12-month high of $22.21. The company has a market cap of $1.54 billion, a price-to-earnings ratio of 22.07, a price-to-earnings-growth ratio of 2.01 and a beta of 0.54. The stock's 50-day moving average price is $18.70 and its two-hundred day moving average price is $18.47.

WK Kellogg (NYSE:KLG - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.20 EPS for the quarter, missing the consensus estimate 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 analysts' expectations of $677.91 million. During the same quarter in the previous year, the firm posted $0.37 earnings per share. The firm's revenue for the quarter was down 6.2% compared to the same quarter last year. Research 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 announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 3.69%. The ex-dividend date of this dividend is Friday, May 30th. WK Kellogg's payout ratio is currently 103.13%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Jefferies Financial Group cut their price objective on WK Kellogg from $19.00 to $16.00 and set a "hold" rating for the company in a research report on Tuesday, January 28th. Morgan Stanley started coverage on WK Kellogg in a research note on Monday, March 24th. They set an "underweight" rating and a $18.00 target price for the company. Finally, Stifel Nicolaus reduced their target price on WK Kellogg from $19.00 to $18.00 and set a "hold" rating for the company in a research note on Friday, January 24th. Four research analysts have rated the stock with a sell rating and three have given a hold rating to the company's stock. Based on data from MarketBeat.com, WK Kellogg currently has an average rating of "Reduce" and an average target price 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.