California Public Employees Retirement System Takes $1.54 Million Position in WK Kellogg Co (NYSE:KLG)

California Public Employees Retirement System purchased a new stake in WK Kellogg Co (NYSE:KLG - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 117,454 shares of the company's stock, valued at approximately $1,543,000. California Public Employees Retirement System owned approximately 0.14% of WK Kellogg as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in KLG. Eukles Asset Management bought a new position in WK Kellogg in the 4th quarter worth about $25,000. Toth Financial Advisory Corp bought a new position in WK Kellogg in the 4th quarter worth about $26,000. Canal Insurance CO bought a new position in WK Kellogg in the 4th quarter worth about $26,000. S.A. Mason LLC bought a new position in WK Kellogg in the 4th quarter worth about $30,000. Finally, Fifth Third Bancorp bought a new position in WK Kellogg in the 4th quarter worth about $32,000. Institutional investors own 95.74% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Stifel Nicolaus upped their price target on shares of WK Kellogg from $13.00 to $20.00 and gave the stock a "hold" rating in a research note on Friday, April 26th. Barclays boosted their target price on WK Kellogg from $12.00 to $15.00 and gave the stock an "underweight" rating in a research report on Friday, April 12th. Two research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat, WK Kellogg has a consensus rating of "Hold" and an average price target of $13.45.

WK Kellogg Stock Performance

Shares of NYSE KLG traded up $0.34 during midday trading on Monday, hitting $23.54. 1,092,598 shares of the company's stock traded hands, compared to its average volume of 1,127,065. 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 firm has a fifty day moving average of $19.23 and a 200 day moving average of $14.79.

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

WK Kellogg Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.72%.

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.