Retirement Systems of Alabama Invests $1.07 Million in WK Kellogg Co (NYSE:KLG)

Retirement Systems of Alabama bought a new stake in WK Kellogg Co (NYSE:KLG - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 81,225 shares of the company's stock, valued at approximately $1,067,000. Retirement Systems of Alabama owned approximately 0.09% of WK Kellogg as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the business. Lincoln Capital Corp bought a new stake in WK Kellogg during the 4th quarter valued at $1,026,000. Nordea Investment Management AB purchased a new position in shares of WK Kellogg in the 4th quarter valued at approximately $2,119,000. Inlet Private Wealth LLC acquired a new stake in WK Kellogg in the 4th quarter worth approximately $4,038,000. Oak Thistle LLC acquired a new position in WK Kellogg during the 4th quarter valued at approximately $1,721,000. Finally, London & Capital Asset Management Ltd purchased a new position in WK Kellogg in the 4th quarter worth $10,363,000. Institutional investors own 95.74% of the company's stock.

WK Kellogg Stock Up 1.0 %

NYSE KLG traded up $0.23 on Thursday, hitting $22.20. 1,294,113 shares of the stock were exchanged, compared to its average volume of 1,139,470. WK Kellogg Co has a fifty-two week low of $9.65 and a fifty-two week high of $24.63. The company has a 50-day moving average price of $19.56 and a 200-day moving average price of $14.94. The company has a current ratio of 0.84, a quick ratio of 0.43 and a debt-to-equity ratio of 1.62.

WK Kellogg (NYSE:KLG - Get Free Report) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.37 EPS for the quarter, meeting analysts' consensus estimates of $0.37. The business had revenue of $707.00 million during the quarter, compared to analysts' expectations of $697.83 million. The company's quarterly revenue was down .7% on a year-over-year basis. As a group, equities analysts predict that WK Kellogg Co will post 1.51 EPS for the current year.

WK Kellogg Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend is Friday, May 31st.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on KLG shares. TD Cowen raised their price objective on WK Kellogg from $13.00 to $24.00 and gave the stock a "hold" rating in a research note on Wednesday. Barclays increased their price target on WK Kellogg from $15.00 to $19.00 and gave the stock an "underweight" rating in a research report on Thursday. Stifel Nicolaus upped their price objective on shares of WK Kellogg from $20.00 to $22.00 and gave the stock a "hold" rating in a research report on Wednesday. Evercore ISI boosted their target price on shares of WK Kellogg from $21.00 to $23.00 and gave the stock an "in-line" rating in a research note on Wednesday. Finally, BNP Paribas lowered WK Kellogg from a "neutral" rating to an "underperform" rating and set a $20.00 price objective on the stock. in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $16.95.

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.