5,200 Shares in WK Kellogg Co (NYSE:KLG) Bought by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board acquired a new stake in WK Kellogg Co (NYSE:KLG) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 5,200 shares of the company’s stock, valued at approximately $94,000.

Several other large investors have also recently made changes to their positions in KLG. Halbert Hargrove Global Advisors LLC purchased a new position in shares of WK Kellogg in the 4th quarter worth about $25,000. SBI Securities Co. Ltd. bought a new stake in WK Kellogg in the fourth quarter worth about $36,000. Wealthfront Advisers LLC purchased a new position in WK Kellogg in the fourth quarter valued at about $44,000. GAMMA Investing LLC grew its position in shares of WK Kellogg by 49.4% during the 4th quarter. GAMMA Investing LLC now owns 2,823 shares of the company’s stock valued at $51,000 after acquiring an additional 933 shares during the period. Finally, Spire Wealth Management bought a new position in shares of WK Kellogg during the 4th quarter valued at approximately $56,000. 95.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

KLG has been the topic of several research analyst reports. Stifel Nicolaus dropped their price objective on WK Kellogg from $19.00 to $18.00 and set a “hold” rating on the stock in a research note on Friday, January 24th. TD Cowen downgraded WK Kellogg from a “hold” rating to a “sell” rating and cut their price target for the stock from $18.00 to $16.00 in a research note on Wednesday, January 8th. Morgan Stanley started coverage on WK Kellogg in a research note on Monday, March 24th. They issued an “underweight” rating and a $18.00 price objective on the stock. 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, January 17th. Finally, Jefferies Financial Group dropped their price target on shares of WK Kellogg from $19.00 to $16.00 and set a “hold” rating on the stock in a research note on Tuesday, January 28th. Five investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat, WK Kellogg has an average rating of “Reduce” and an average price target of $17.89.

WK Kellogg Price Performance

KLG stock opened at $17.86 on Friday. The firm has a 50 day moving average of $19.39 and a 200-day moving average of $18.43. The company has a current ratio of 0.74, a quick ratio of 0.32 and a debt-to-equity ratio of 1.45. The firm has a market capitalization of $1.54 billion, a P/E ratio of 22.05, a price-to-earnings-growth ratio of 2.01 and a beta of 0.39. WK Kellogg Co has a 12 month low of $15.17 and a 12 month high of $24.56.

WK Kellogg (NYSE:KLG) last released its quarterly earnings results on Tuesday, February 11th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.14. WK Kellogg had a net margin of 2.66% and a return on equity of 39.81%. As a group, sell-side analysts predict that WK Kellogg Co will post 1.57 earnings per share for the current fiscal year.

WK Kellogg Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 3.70%. This is a boost from WK Kellogg’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Friday, February 28th. WK Kellogg’s dividend payout ratio is 81.48%.

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.