New York State Common Retirement Fund Buys Shares of 38,641 WK Kellogg Co (NYSE:KLG)

New York State Common Retirement Fund bought a new position in shares of WK Kellogg Co (NYSE:KLG - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 38,641 shares of the company's stock, valued at approximately $508,000.

A number of other large investors have also recently made changes to their positions in KLG. Lincoln Capital Corp purchased a new position in WK Kellogg in the fourth quarter valued at approximately $1,026,000. Nordea Investment Management AB purchased a new position in WK Kellogg in the fourth quarter valued at approximately $2,119,000. Inlet Private Wealth LLC purchased a new position in WK Kellogg in the fourth quarter valued at approximately $4,038,000. Oak Thistle LLC purchased a new position in WK Kellogg in the fourth quarter valued at approximately $1,721,000. Finally, London & Capital Asset Management Ltd purchased a new position in shares of WK Kellogg during the fourth quarter worth approximately $10,363,000. 95.74% of the stock is currently owned by hedge funds and other institutional investors.

WK Kellogg Trading Down 1.1 %

Shares of NYSE KLG traded down $0.24 during mid-day trading on Wednesday, hitting $20.89. 1,238,482 shares of the company were exchanged, compared to its average volume of 1,144,207. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.84 and a quick ratio of 0.43. The stock has a 50 day simple moving average of $20.13 and a 200-day simple moving average of $15.29. WK Kellogg Co has a 1-year low of $9.65 and a 1-year high of $24.63.

WK Kellogg (NYSE:KLG - Get Free Report) last released its earnings results 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 analyst estimates of $697.83 million. WK Kellogg's quarterly revenue was down .7% compared to the same quarter last year. Equities analysts predict that WK Kellogg Co will post 1.55 earnings per share for the current fiscal year.

WK Kellogg Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be given a dividend of $0.16 per share. The ex-dividend date is Friday, May 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.06%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on KLG. BNP Paribas lowered shares of WK Kellogg from a "neutral" rating to an "underperform" rating and set a $20.00 target price on the stock. in a research report on Wednesday, May 8th. Stifel Nicolaus raised 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, May 8th. Evercore ISI raised 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 report on Wednesday, May 8th. TD Cowen raised their target price on shares of WK Kellogg from $13.00 to $24.00 and gave the stock a "hold" rating in a research report on Wednesday, May 8th. Finally, Barclays raised their target price on shares of WK Kellogg from $15.00 to $19.00 and gave the stock an "underweight" rating in a research report on Thursday, May 9th. Three research analysts have rated the stock with a sell rating and seven have given a hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $16.95.

WK Kellogg 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.