Jacobs Levy Equity Management Inc. Sells 161,361 Shares of WK Kellogg Co (NYSE:KLG)

Jacobs Levy Equity Management Inc. decreased its holdings in shares of WK Kellogg Co (NYSE:KLG - Free Report) by 14.3% in the fourth quarter, according to the company in 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 period. Jacobs Levy Equity Management Inc. owned about 1.12% of WK Kellogg worth $17,327,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Keybank National Association OH raised its stake in shares of WK Kellogg by 1.1% in 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 during the last quarter. Capital International Investors increased its holdings in WK Kellogg by 149.8% during the 4th quarter. Capital International Investors now owns 4,186,763 shares of the company's stock valued at $75,320,000 after purchasing an additional 2,510,779 shares in the last quarter. Jupiter Asset Management Ltd. raised its position in WK Kellogg by 172.9% in the 4th quarter. Jupiter Asset Management Ltd. now owns 2,494,881 shares of the company's stock valued at $44,883,000 after purchasing an additional 1,580,704 shares during the last quarter. D. E. Shaw & Co. Inc. raised its position in WK Kellogg by 0.9% in 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 last quarter. Finally, Captrust Financial Advisors boosted its stake in WK Kellogg by 12.5% in the fourth quarter. Captrust Financial Advisors now owns 1,705,509 shares of the company's stock worth $30,682,000 after purchasing an additional 189,092 shares in the last quarter. 95.74% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Stifel Nicolaus cut their price target on WK Kellogg from $19.00 to $18.00 and set a "hold" rating for the company in a report on Friday, January 24th. Jefferies Financial Group lowered their price target on shares of WK Kellogg from $19.00 to $16.00 and set a "hold" rating for the company in a report on Tuesday, January 28th. Barclays decreased their price objective on WK Kellogg from $19.00 to $16.00 and set an "underweight" rating on the stock in a research report on Friday, January 17th. Finally, Morgan Stanley initiated coverage on WK Kellogg in a research note on Monday, March 24th. They set an "underweight" rating and a $18.00 price target on the stock. Four research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat.com, WK Kellogg has an average rating of "Reduce" and a consensus price target of $16.86.

WK Kellogg Trading Up 1.7%

KLG traded up $0.30 during mid-day trading on Friday, hitting $18.26. The stock had a trading volume of 690,620 shares, compared to its average volume of 980,278. WK Kellogg Co has a 1-year low of $14.80 and a 1-year high of $22.21. The firm has a market capitalization of $1.57 billion, a price-to-earnings 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 stock's fifty day simple moving average is $18.76 and its 200-day simple moving average is $18.44.

WK Kellogg (NYSE:KLG - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.20 earnings per share 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 business 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 posted $0.37 earnings per share. The business's revenue was down 6.2% on a year-over-year basis. As a group, research analysts forecast that WK Kellogg Co will post 1.57 EPS for the current fiscal year.

WK Kellogg Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date is Friday, May 30th. WK Kellogg's 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.