WK Kellogg Co (NYSE:KLG) Shares Bought by Royce & Associates LP

Royce & Associates LP grew its holdings in WK Kellogg Co (NYSE:KLG) by 46.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 105,134 shares of the company’s stock after purchasing an additional 33,147 shares during the quarter. Royce & Associates LP owned approximately 0.12% of WK Kellogg worth $1,891,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Halbert Hargrove Global Advisors LLC purchased a new stake in WK Kellogg in the 4th quarter valued at approximately $25,000. SBI Securities Co. Ltd. purchased a new stake in shares of WK Kellogg in the fourth quarter valued at $36,000. Wealthfront Advisers LLC acquired a new stake in shares of WK Kellogg during the fourth quarter valued at $44,000. GAMMA Investing LLC increased its position in WK Kellogg by 49.4% during the 4th quarter. GAMMA Investing LLC now owns 2,823 shares of the company’s stock worth $51,000 after purchasing an additional 933 shares in the last quarter. Finally, Spire Wealth Management acquired a new position in WK Kellogg in the 4th quarter valued at about $56,000. 95.74% of the stock is owned by hedge funds and other institutional investors.

WK Kellogg Trading Down 0.7 %

KLG stock opened at $18.74 on Friday. 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 cap of $1.62 billion, a price-to-earnings ratio of 23.14, a PEG ratio of 2.01 and a beta of 0.30. The business has a fifty day simple moving average of $18.17 and a 200-day simple moving average of $18.16. WK Kellogg Co has a 52 week low of $15.17 and a 52 week high of $24.63.

WK Kellogg (NYSE:KLG) last announced its quarterly earnings results on Tuesday, February 11th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.28 by $0.14. WK Kellogg had a return on equity of 39.81% and a net margin of 2.66%. On average, equities research analysts expect that WK Kellogg Co will post 1.57 EPS for the current year.

WK Kellogg Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $0.165 per share. This is an increase from WK Kellogg’s previous quarterly dividend of $0.16. This represents a $0.66 annualized dividend and a yield of 3.52%. The ex-dividend date of this dividend was Friday, February 28th. WK Kellogg’s payout ratio is currently 81.48%.

Analyst Upgrades and Downgrades

KLG has been the topic of several analyst reports. Barclays decreased their price target on shares of WK Kellogg from $19.00 to $16.00 and set an “underweight” rating on the stock in a research note on Friday, January 17th. TD Cowen lowered shares of WK Kellogg from a “hold” rating to a “sell” rating and decreased their target price for the stock from $18.00 to $16.00 in a research report on Wednesday, January 8th. Stifel Nicolaus cut their price target on WK Kellogg from $19.00 to $18.00 and set a “hold” rating for the company in a report on Friday, January 24th. Finally, Jefferies Financial Group decreased their price objective on WK Kellogg from $19.00 to $16.00 and set a “hold” rating on the stock in a report on Tuesday, January 28th. Four investment analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $17.88.

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.