Marshall Wace LLP Takes $397,000 Position in WK Kellogg Co (NYSE:KLG)

Marshall Wace LLP bought a new position in WK Kellogg Co (NYSE:KLG - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 22,082 shares of the company's stock, valued at approximately $397,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Keybank National Association OH lifted its holdings in shares of WK Kellogg by 1.1% in the 4th 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. Jupiter Asset Management Ltd. boosted its holdings in shares of WK Kellogg by 172.9% in the 4th quarter. Jupiter Asset Management Ltd. now owns 2,494,881 shares of the company's stock worth $44,883,000 after purchasing an additional 1,580,704 shares during the period. American Century Companies Inc. increased its position in shares of WK Kellogg by 9.1% during the 4th quarter. American Century Companies Inc. now owns 1,516,717 shares of the company's stock valued at $27,286,000 after purchasing an additional 126,793 shares during the last quarter. Geode Capital Management LLC increased its position in shares of WK Kellogg by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 1,514,592 shares of the company's stock valued at $27,254,000 after purchasing an additional 6,879 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in WK Kellogg by 11.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,240,046 shares of the company's stock worth $22,308,000 after buying an additional 127,488 shares during the last quarter. 95.74% of the stock is owned by institutional investors.

WK Kellogg Stock Performance

Shares of KLG stock traded down $0.71 during trading hours on Wednesday, hitting $17.23. The company's stock had a trading volume of 1,820,359 shares, compared to its average volume of 995,082. WK Kellogg Co has a 12-month low of $14.80 and a 12-month high of $24.56. The company has a current ratio of 0.74, a quick ratio of 0.32 and a debt-to-equity ratio of 1.45. The stock has a market cap of $1.48 billion, a PE ratio of 21.27, a price-to-earnings-growth ratio of 2.01 and a beta of 0.54. The company has a 50 day moving average of $19.09 and a 200 day moving average of $18.44.

WK Kellogg (NYSE:KLG - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.41 by ($0.21). The company had revenue of $667.00 million during the quarter, compared to analyst estimates 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 period in the previous year, the firm posted $0.37 earnings per share. On average, sell-side analysts forecast that WK Kellogg Co will post 1.57 EPS for the current fiscal year.

WK Kellogg Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 3.83%. The ex-dividend date is Friday, May 30th. WK Kellogg's payout ratio is currently 81.48%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on KLG. Jefferies Financial Group dropped their target price 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. TD Cowen downgraded WK Kellogg from a "hold" rating to a "sell" rating and decreased their target price for the stock from $18.00 to $16.00 in a research report on Wednesday, January 8th. Barclays cut their price target on shares of WK Kellogg from $19.00 to $16.00 and set an "underweight" rating on the stock in a report on Friday, January 17th. Morgan Stanley assumed coverage on shares of WK Kellogg in a research report on Monday, March 24th. They issued an "underweight" rating and a $18.00 price objective for the company. Finally, Stifel Nicolaus cut their price target on WK Kellogg from $19.00 to $18.00 and set a "hold" rating on the stock in a research note on Friday, January 24th. 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.com, the stock presently has a consensus rating of "Reduce" and an average target price of $17.89.

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.