478,605 Shares in WK Kellogg Co (NYSE:KLG) Acquired by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. acquired a new position in WK Kellogg Co (NYSE:KLG) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 478,605 shares of the company’s stock, valued at approximately $8,998,000. Jacobs Levy Equity Management Inc. owned about 0.56% of WK Kellogg at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Eukles Asset Management bought a new stake in shares of WK Kellogg during the 4th quarter valued at $25,000. Canal Insurance CO bought a new stake in shares of WK Kellogg in the 4th quarter valued at $26,000. Toth Financial Advisory Corp bought a new stake in shares of WK Kellogg in the 4th quarter valued at $26,000. Benjamin F. Edwards & Company Inc. bought a new stake in shares of WK Kellogg in the 4th quarter valued at $26,000. Finally, Brown Brothers Harriman & Co. bought a new stake in shares of WK Kellogg in the 4th quarter valued at $27,000. Institutional investors own 95.74% of the company’s stock.

WK Kellogg Trading Up 0.3 %

Shares of WK Kellogg stock traded up $0.06 during trading hours on Tuesday, reaching $17.37. 1,012,878 shares of the company’s stock were exchanged, compared to its average volume of 1,124,280. The company has a 50 day moving average of $17.52 and a two-hundred day moving average of $17.52. 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 current ratio of 0.84, a quick ratio of 0.43 and a debt-to-equity ratio of 1.53.

WK Kellogg (NYSE:KLG) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.37 EPS for the quarter, hitting analysts’ consensus estimates of $0.37. The business had revenue of $707.00 million for the quarter, compared to analyst estimates of $697.83 million. The business’s revenue for the quarter was down .7% on a year-over-year basis. On average, research analysts expect that WK Kellogg Co will post 1.54 EPS for the current fiscal year.

WK Kellogg Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were paid a dividend of $0.16 per share. The ex-dividend date was Friday, May 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.68%.

Wall Street Analysts Forecast Growth

KLG has been the subject of a number of recent analyst reports. Stifel Nicolaus lowered their price objective on shares of WK Kellogg from $22.00 to $18.00 and set a “hold” rating for the company in a research report on Tuesday, July 23rd. BNP Paribas cut shares of 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, May 8th. Evercore ISI upped their price objective on shares of WK Kellogg from $21.00 to $23.00 and gave the company an “in-line” rating in a research report on Wednesday, May 8th. Bank of America lowered shares of WK Kellogg from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $24.00 to $17.00 in a research note on Wednesday, July 10th. Finally, Barclays reduced their target price on shares of WK Kellogg from $19.00 to $16.00 and set an “underweight” rating for the company in a research note on Friday, July 19th. Four analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $16.80.

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.