LSV Asset Management Has $14.37 Million Position in WK Kellogg Co (NYSE:KLG)

LSV Asset Management lifted its holdings in WK Kellogg Co (NYSE:KLG - Free Report) by 572.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 798,571 shares of the company's stock after buying an additional 679,888 shares during the quarter. LSV Asset Management owned about 0.93% of WK Kellogg worth $14,366,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Halbert Hargrove Global Advisors LLC bought a new stake in shares of WK Kellogg during the fourth quarter valued at approximately $25,000. SBI Securities Co. Ltd. acquired a new stake in shares of WK Kellogg in the 4th quarter valued at $36,000. Wealthfront Advisers LLC bought a new stake in shares of WK Kellogg during the fourth quarter worth $44,000. GAMMA Investing LLC lifted its stake in shares of WK Kellogg by 49.4% during the fourth quarter. GAMMA Investing LLC now owns 2,823 shares of the company's stock valued at $51,000 after acquiring an additional 933 shares during the period. Finally, Spire Wealth Management bought a new position in WK Kellogg in the fourth quarter valued at about $56,000. Institutional investors own 95.74% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on KLG shares. Stifel Nicolaus cut their target price on shares of WK Kellogg from $19.00 to $18.00 and set a "hold" rating on the stock in a research report on Friday, January 24th. TD Cowen lowered shares of WK Kellogg from a "hold" rating to a "sell" rating and cut their price objective for the company from $18.00 to $16.00 in a report on Wednesday, January 8th. Morgan Stanley initiated coverage on shares of WK Kellogg in a report on Monday, March 24th. They set an "underweight" rating and a $18.00 target price for the company. Jefferies Financial Group cut their price target on WK Kellogg from $19.00 to $16.00 and set a "hold" rating on the stock in a research note on Tuesday, January 28th. Finally, Barclays decreased their price objective on WK Kellogg from $19.00 to $16.00 and set an "underweight" rating for the company in a research note on Friday, January 17th. Five research analysts have rated the stock with a sell rating and four have issued a hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Reduce" and an average target price of $17.89.

WK Kellogg Trading Up 3.3 %

Shares of WK Kellogg stock traded up $0.63 during trading hours on Friday, hitting $19.52. The company's stock had a trading volume of 426,709 shares, compared to its average volume of 1,003,933. WK Kellogg Co has a 12 month low of $15.17 and a 12 month high of $24.63. 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 has a market capitalization of $1.68 billion, a PE ratio of 24.09, a price-to-earnings-growth ratio of 2.01 and a beta of 0.39. The stock has a 50 day moving average of $19.39 and a 200 day moving average of $18.36.

WK Kellogg (NYSE:KLG - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.14. WK Kellogg had a net margin of 2.66% and a return on equity of 39.81%. Analysts predict that WK Kellogg Co will post 1.57 earnings per share for the current year.

WK Kellogg Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date of this dividend was Friday, February 28th. This is a positive change from WK Kellogg's previous quarterly dividend of $0.16. WK Kellogg's dividend payout ratio (DPR) is currently 81.48%.

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.