Westhampton Capital LLC Cuts Position in WK Kellogg Co (NYSE:KLG)

Westhampton Capital LLC trimmed its holdings in shares of WK Kellogg Co (NYSE:KLG) by 3.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,794 shares of the company’s stock after selling 2,425 shares during the period. Westhampton Capital LLC’s holdings in WK Kellogg were worth $1,211,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. GAMMA Investing LLC raised its stake in shares of WK Kellogg by 88.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,890 shares of the company’s stock valued at $32,000 after acquiring an additional 888 shares during the period. EntryPoint Capital LLC acquired a new position in shares of WK Kellogg during the first quarter worth about $42,000. Rothschild Investment LLC acquired a new position in shares of WK Kellogg during the second quarter worth about $46,000. Fisher Asset Management LLC purchased a new stake in shares of WK Kellogg in the fourth quarter worth about $55,000. Finally, nVerses Capital LLC acquired a new stake in shares of WK Kellogg in the third quarter valued at about $99,000. 95.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KLG has been the subject of a number of analyst reports. Bank of America cut WK Kellogg from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $24.00 to $17.00 in a report on Wednesday, July 10th. JPMorgan Chase & Co. decreased their target price on shares of WK Kellogg from $22.00 to $17.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Stifel Nicolaus dropped their price target on shares of WK Kellogg from $22.00 to $18.00 and set a “hold” rating on the stock in a research note on Tuesday, July 23rd. Finally, Barclays decreased their price objective on shares of WK Kellogg from $19.00 to $16.00 and set an “underweight” rating for the company in a research report on Friday, July 19th. Three equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $18.50.

WK Kellogg Stock Performance

Shares of WK Kellogg stock opened at $17.80 on Wednesday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.36 and a current ratio of 0.83. WK Kellogg Co has a 1 year low of $9.77 and a 1 year high of $24.63. The firm’s 50-day simple moving average is $17.53 and its 200-day simple moving average is $18.51. The firm has a market cap of $1.53 billion and a PE ratio of 12.71.

WK Kellogg (NYSE:KLG) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.06). The firm had revenue of $672.00 million for the quarter, compared to analyst estimates of $671.50 million. WK Kellogg had a net margin of 4.45% and a return on equity of 42.12%. The business’s quarterly revenue was down 4.0% compared to the same quarter last year. Equities analysts forecast that WK Kellogg Co will post 1.5 earnings per share for the current fiscal year.

WK Kellogg Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 29th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date was Thursday, August 29th. WK Kellogg’s dividend payout ratio is presently 45.71%.

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.