Gotham Asset Management LLC Raises Stock Position in WK Kellogg Co (NYSE:KLG)

Gotham Asset Management LLC raised its stake in WK Kellogg Co (NYSE:KLG) by 21.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 128,961 shares of the company’s stock after buying an additional 22,496 shares during the period. Gotham Asset Management LLC owned approximately 0.15% of WK Kellogg worth $2,320,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Halbert Hargrove Global Advisors LLC purchased a new position in WK Kellogg during the 4th quarter valued at about $25,000. Ancora Advisors LLC grew its position in shares of WK Kellogg by 181.8% in the fourth quarter. Ancora Advisors LLC now owns 1,519 shares of the company’s stock valued at $27,000 after purchasing an additional 980 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of WK Kellogg in the fourth quarter valued at approximately $36,000. Wealthfront Advisers LLC acquired a new stake in shares of WK Kellogg in the fourth quarter valued at approximately $44,000. Finally, Spire Wealth Management acquired a new stake in shares of WK Kellogg in the fourth quarter valued at approximately $56,000. 95.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on KLG. Barclays lowered 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 report on Friday, January 17th. Jefferies Financial Group decreased 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. Morgan Stanley started coverage on shares of WK Kellogg in a research note on Monday, March 24th. They set an “underweight” rating and a $18.00 price target on the stock. Finally, Stifel Nicolaus decreased their price target on shares of WK Kellogg from $19.00 to $18.00 and set a “hold” rating on the stock in a research note on Friday, January 24th. Four investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $16.86.

WK Kellogg Price Performance

KLG opened at $17.95 on Friday. The company’s 50 day simple moving average is $18.76 and its 200 day simple moving average is $18.44. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.32 and a current ratio of 0.74. WK Kellogg Co has a 1 year low of $14.80 and a 1 year high of $22.21. The stock has a market capitalization of $1.55 billion, a PE ratio of 22.16, a P/E/G ratio of 2.01 and a beta of 0.54.

WK Kellogg (NYSE:KLG) last released its earnings results on Tuesday, May 6th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.21). WK Kellogg had a return on equity of 39.81% and a net margin of 2.66%. The company had revenue of $667.00 million during the quarter, compared to analyst estimates of $677.91 million. During the same period in the prior year, the business posted $0.37 earnings per share. WK Kellogg’s revenue was down 6.2% on a year-over-year basis. As a group, sell-side analysts expect that WK Kellogg Co will post 1.57 EPS for the current year.

WK Kellogg Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be given a dividend of $0.165 per share. The ex-dividend date is Friday, May 30th. This represents a $0.66 dividend on an annualized basis and a yield of 3.68%. WK Kellogg’s dividend payout ratio (DPR) is 103.13%.

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.