Investors Research Corp Makes New $43,000 Investment in WK Kellogg Co (NYSE:KLG)

Investors Research Corp acquired a new position in shares of WK Kellogg Co (NYSE:KLG) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,289 shares of the company’s stock, valued at approximately $43,000.

A number of other institutional investors have also recently bought and sold shares of the business. Canal Insurance CO acquired a new stake in shares of WK Kellogg during the 4th quarter valued at about $26,000. Toth Financial Advisory Corp acquired a new stake in shares of WK Kellogg during the 4th quarter valued at about $26,000. S.A. Mason LLC acquired a new stake in shares of WK Kellogg during the 4th quarter valued at about $30,000. Fifth Third Bancorp acquired a new stake in shares of WK Kellogg during the 4th quarter valued at about $32,000. Finally, Financiere des Professionnels Fonds d investissement inc. acquired a new stake in shares of WK Kellogg during the 4th quarter valued at about $36,000. 95.74% of the stock is currently owned by institutional investors and hedge funds.

WK Kellogg Price Performance

Shares of NYSE KLG opened at $21.11 on Wednesday. The company has a quick ratio of 0.43, a current ratio of 0.84 and a debt-to-equity ratio of 1.62. The business’s 50 day moving average is $16.68 and its two-hundred day moving average is $13.56. WK Kellogg Co has a 12 month low of $9.65 and a 12 month high of $22.08.

WK Kellogg (NYSE:KLG) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.03). The business had revenue of $651.00 million during the quarter, compared to the consensus estimate of $645.87 million. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. On average, analysts predict that WK Kellogg Co will post 1.51 earnings per share for the current year.

WK Kellogg Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a $0.16 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.03%.

Analyst Ratings Changes

Several brokerages have recently issued reports on KLG. Barclays lifted their price target on WK Kellogg from $12.00 to $15.00 and gave the company an “underweight” rating in a report on Friday, April 12th. Stifel Nicolaus raised their price objective on WK Kellogg from $11.00 to $13.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. Two analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $12.75.

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.