Alaska Permanent Fund Corp Invests $764,000 in WK Kellogg Co (NYSE:KLG)

Alaska Permanent Fund Corp acquired a new position in WK Kellogg Co (NYSE:KLG - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 58,132 shares of the company's stock, valued at approximately $764,000. Alaska Permanent Fund Corp owned 0.07% of WK Kellogg as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Mackenzie Financial Corp acquired a new stake in WK Kellogg in the 3rd quarter valued at about $685,000. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in WK Kellogg in the 3rd quarter valued at about $1,657,000. Diversified Trust Co acquired a new stake in WK Kellogg in the 4th quarter valued at about $147,000. Daymark Wealth Partners LLC acquired a new stake in WK Kellogg in the 4th quarter valued at about $976,000. Finally, Nordea Investment Management AB acquired a new stake in WK Kellogg in the 4th quarter valued at about $2,119,000. Institutional investors and hedge funds own 95.74% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on KLG. Barclays upped their price target on shares of WK Kellogg from $12.00 to $15.00 and gave the company an "underweight" rating in a report on Friday, April 12th. Stifel Nicolaus boosted their price objective on WK Kellogg from $13.00 to $20.00 and gave the stock a "hold" rating in a report on Friday. Two research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to MarketBeat.com, WK Kellogg presently has an average rating of "Hold" and a consensus target price of $13.45.

WK Kellogg Stock Down 1.6 %

Shares of KLG traded down $0.40 during trading hours on Friday, reaching $23.94. The company's stock had a trading volume of 891,706 shares, compared to its average volume of 1,133,363. WK Kellogg Co has a 1-year low of $9.65 and a 1-year high of $24.63. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.84 and a quick ratio of 0.43. The company has a 50 day moving average of $18.00 and a two-hundred day moving average of $14.08.

WK Kellogg (NYSE:KLG - Get Free Report) last issued its earnings results on Tuesday, February 13th. The company reported $0.18 earnings per share for the quarter, missing analysts' consensus estimates of $0.21 by ($0.03). The firm had revenue of $651.00 million during the quarter, compared to the consensus estimate of $645.87 million. The business's quarterly revenue was down 2.7% on a year-over-year basis. On average, analysts predict that WK Kellogg Co will post 1.51 EPS for the current fiscal year.

WK Kellogg Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a $0.16 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.67%.

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.