Oldfield Partners LLP Invests $1.12 Million in WK Kellogg Co (NYSE:KLG)

Oldfield Partners LLP purchased a new stake in WK Kellogg Co (NYSE:KLG - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 85,500 shares of the company's stock, valued at approximately $1,123,000. WK Kellogg comprises about 0.2% of Oldfield Partners LLP's investment portfolio, making the stock its 22nd largest position. Oldfield Partners LLP owned 0.10% of WK Kellogg as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in KLG. London & Capital Asset Management Ltd acquired a new stake in WK Kellogg during the 4th quarter worth $10,363,000. Private Management Group Inc. purchased a new position in shares of WK Kellogg during the fourth quarter worth about $8,956,000. Charles Schwab Investment Management Inc. acquired a new position in WK Kellogg in the 4th quarter valued at about $6,159,000. Inlet Private Wealth LLC purchased a new stake in WK Kellogg during the 4th quarter valued at approximately $4,038,000. Finally, Russell Investments Group Ltd. acquired a new stake in WK Kellogg during the 4th quarter worth approximately $3,282,000. Institutional investors and hedge funds own 95.74% of the company's stock.

WK Kellogg Trading Down 1.9 %

Shares of WK Kellogg stock traded down $0.43 during trading on Friday, hitting $21.77. 1,382,769 shares of the company were exchanged, compared to its average volume of 1,142,155. WK Kellogg Co has a fifty-two week low of $9.65 and a fifty-two week high of $24.63. The firm has a 50 day moving average price of $19.71 and a 200 day moving average price of $14.99. 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 earnings results on Tuesday, May 7th. The company reported $0.37 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.37. The firm had revenue of $707.00 million during the quarter, compared to analysts' expectations of $697.83 million. The business's revenue for the quarter was down .7% on a year-over-year basis. On average, equities research analysts predict that WK Kellogg Co will post 1.51 EPS for the current year.

WK Kellogg Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be issued a $0.16 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.64 annualized dividend and a yield of 2.94%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on KLG. Barclays boosted their price objective on shares of WK Kellogg from $15.00 to $19.00 and gave the company an "underweight" rating in a research note on Thursday. Evercore ISI boosted their target price on WK Kellogg from $21.00 to $23.00 and gave the stock an "in-line" rating in a research report on Wednesday. TD Cowen lifted their price target on WK Kellogg from $13.00 to $24.00 and gave the company a "hold" rating in a research note on Wednesday. BNP Paribas cut WK Kellogg from a "neutral" rating to an "underperform" rating and set a $20.00 price objective for the company. in a research report on Wednesday. Finally, Stifel Nicolaus boosted their target price on shares of WK Kellogg from $20.00 to $22.00 and gave the stock a "hold" rating in a research report on Wednesday. Three research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $16.95.

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.

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