WK Kellogg Co (NYSE:KLG) Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. decreased its position in shares of WK Kellogg Co (NYSE:KLG - Free Report) by 14.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 963,142 shares of the company's stock after selling 161,361 shares during the quarter. Jacobs Levy Equity Management Inc. owned 1.12% of WK Kellogg worth $17,327,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of KLG. Keybank National Association OH raised its position in WK Kellogg by 1.1% during the fourth quarter. Keybank National Association OH now owns 4,925,470 shares of the company's stock valued at $88,609,000 after acquiring an additional 52,129 shares in the last quarter. Capital International Investors raised its position in WK Kellogg by 149.8% during 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 in the last quarter. Jupiter Asset Management Ltd. raised its position in WK Kellogg by 172.9% during 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 in the last quarter. D. E. Shaw & Co. Inc. raised its position in WK Kellogg by 0.9% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,827,524 shares of the company's stock valued at $32,877,000 after acquiring an additional 17,088 shares in the last quarter. Finally, Captrust Financial Advisors raised its position in WK Kellogg by 12.5% during the fourth 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 in the last quarter. Institutional investors and hedge funds own 95.74% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on KLG. Jefferies Financial Group reduced their price target 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. Stifel Nicolaus cut their price objective on WK Kellogg from $19.00 to $18.00 and set a "hold" rating for the company in a research report on Friday, January 24th. Finally, Morgan Stanley initiated coverage on WK Kellogg in a research report on Monday, March 24th. They issued an "underweight" rating and a $18.00 price objective for the company. Four analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to MarketBeat, the stock has an average rating of "Reduce" and an average price target of $16.86.

WK Kellogg Stock Up 1.7%

Shares of KLG traded up $0.30 during mid-day trading on Friday, reaching $18.26. The company's stock had a trading volume of 690,620 shares, compared to its average volume of 980,447. WK Kellogg Co has a 12-month low of $14.80 and a 12-month high of $22.21. The stock has a market cap of $1.57 billion, a PE ratio of 22.54, a price-to-earnings-growth 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. The company's 50 day moving average is $18.70 and its 200 day moving average is $18.47.

WK Kellogg (NYSE:KLG - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.20 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.21). The business had revenue of $667.00 million during the quarter, compared to analysts' expectations of $677.91 million. WK Kellogg had a net margin of 2.66% and a return on equity of 39.81%. The company's revenue was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.37 EPS. Equities analysts anticipate that WK Kellogg Co will post 1.57 EPS for the current fiscal year.

WK Kellogg Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be paid a dividend of $0.165 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.66 dividend on an annualized basis and a yield of 3.62%. WK Kellogg's dividend payout ratio is presently 103.13%.

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.