WK Kellogg Co (NYSE:KLG) Shares Sold by Tudor Investment Corp ET AL

Tudor Investment Corp ET AL cut its position in WK Kellogg Co (NYSE:KLG - Free Report) by 9.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 274,108 shares of the company's stock after selling 28,351 shares during the quarter. Tudor Investment Corp ET AL owned about 0.32% of WK Kellogg worth $4,931,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its holdings in shares of WK Kellogg by 11.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,240,046 shares of the company's stock worth $22,308,000 after buying an additional 127,488 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of WK Kellogg by 1,217.5% in the fourth quarter. Victory Capital Management Inc. now owns 233,997 shares of the company's stock valued at $4,210,000 after buying an additional 216,236 shares in the last quarter. Royce & Associates LP increased its stake in WK Kellogg by 46.0% during the 4th quarter. Royce & Associates LP now owns 105,134 shares of the company's stock worth $1,891,000 after acquiring an additional 33,147 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in WK Kellogg during the fourth quarter worth about $273,000. Finally, Alberta Investment Management Corp acquired a new stake in shares of WK Kellogg during the 4th quarter worth approximately $2,022,000. Institutional investors and hedge funds own 95.74% of the company's stock.

WK Kellogg Price Performance

KLG stock traded down $1.21 during trading on Wednesday, reaching $16.72. The company's stock had a trading volume of 525,696 shares, compared to its average volume of 990,084. The company has a quick ratio of 0.32, a current ratio of 0.74 and a debt-to-equity ratio of 1.45. The company has a market capitalization of $1.44 billion, a P/E ratio of 20.68, a price-to-earnings-growth ratio of 2.01 and a beta of 0.54. WK Kellogg Co has a 1 year low of $14.80 and a 1 year high of $24.56. The company's fifty day moving average is $19.09 and its 200-day moving average is $18.44.

WK Kellogg (NYSE:KLG - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.41 by ($0.21). WK Kellogg had a return on equity of 39.81% and a net margin of 2.66%. The company had revenue of $667.00 million during the quarter, compared to the consensus estimate of $677.91 million. During the same quarter in the prior year, the business earned $0.37 earnings per share. The firm's quarterly revenue was down 6.2% compared to the same quarter last year. On average, research analysts expect that WK Kellogg Co will post 1.57 earnings per share for the current fiscal year.

WK Kellogg Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 3.95%. The ex-dividend date is Friday, May 30th. WK Kellogg's payout ratio is currently 81.48%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on KLG shares. TD Cowen lowered shares of WK Kellogg from a "hold" rating to a "sell" rating and cut their target price for the company from $18.00 to $16.00 in a research report on Wednesday, January 8th. Barclays lowered their price target on shares of WK Kellogg from $19.00 to $16.00 and set an "underweight" rating for the company in a report on Friday, January 17th. Morgan Stanley began coverage on WK Kellogg in a report on Monday, March 24th. They issued an "underweight" rating and a $18.00 target price for the company. Stifel Nicolaus lowered their price target on WK Kellogg from $19.00 to $18.00 and set a "hold" rating for the company in a research report on Friday, January 24th. Finally, Jefferies Financial Group cut their price objective on shares of WK Kellogg from $19.00 to $16.00 and set a "hold" rating on the stock in a report on Tuesday, January 28th. Five investment analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat, WK Kellogg presently has a consensus rating of "Reduce" and a consensus target price of $17.89.

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.