NewSquare Capital LLC Purchases New Position in WK Kellogg Co (NYSE:KLG)

NewSquare Capital LLC acquired a new position in shares of WK Kellogg Co (NYSE:KLG) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 22,198 shares of the company’s stock, valued at approximately $292,000.

Several other large investors also recently added to or reduced their stakes in KLG. Lincoln Capital Corp purchased a new position in shares of WK Kellogg in the 4th quarter worth approximately $1,026,000. Nordea Investment Management AB bought a new stake in WK Kellogg in the fourth quarter worth $2,119,000. Inlet Private Wealth LLC purchased a new position in WK Kellogg during the fourth quarter worth $4,038,000. Oak Thistle LLC bought a new position in WK Kellogg during the fourth quarter valued at $1,721,000. Finally, London & Capital Asset Management Ltd purchased a new stake in shares of WK Kellogg in the fourth quarter valued at $10,363,000. 95.74% of the stock is owned by institutional investors.

WK Kellogg Trading Up 2.8 %

Shares of WK Kellogg stock traded up $0.67 on Wednesday, hitting $24.47. 852,675 shares of the company traded hands, compared to its average volume of 1,131,273. WK Kellogg Co has a 52 week low of $9.65 and a 52 week high of $24.63. The stock’s 50 day moving average price is $17.62 and its 200-day moving average price is $13.94. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.43 and a current ratio of 0.84.

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

WK Kellogg Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend was Thursday, February 29th.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on KLG shares. Barclays lifted their price target on shares of WK Kellogg from $12.00 to $15.00 and gave the stock an “underweight” rating in a research note on Friday, April 12th. Stifel Nicolaus boosted their target price on WK Kellogg from $11.00 to $13.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. Two analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus 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.