Two Sigma Investments LP Lowers Stock Holdings in WK Kellogg Co (NYSE:KLG)

Two Sigma Investments LP reduced its stake in WK Kellogg Co (NYSE:KLG) by 32.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 502,461 shares of the company’s stock after selling 239,813 shares during the quarter. Two Sigma Investments LP’s holdings in WK Kellogg were worth $9,039,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of KLG. Halbert Hargrove Global Advisors LLC purchased a new stake in shares of WK Kellogg in the fourth quarter valued at approximately $25,000. Ancora Advisors LLC lifted its holdings in shares of WK Kellogg by 181.8% in the 4th quarter. Ancora Advisors LLC now owns 1,519 shares of the company’s stock worth $27,000 after buying an additional 980 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of WK Kellogg in the 4th quarter worth $36,000. Wealthfront Advisers LLC purchased a new position in shares of WK Kellogg during the fourth quarter valued at $44,000. Finally, Spire Wealth Management purchased a new position in shares of WK Kellogg during the fourth quarter valued at $56,000. 95.74% of the stock is owned by hedge funds and other institutional investors.

WK Kellogg Trading Down 1.3%

KLG opened at $17.23 on Friday. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of 21.27, a PEG ratio of 2.01 and a beta of 0.54. The company has a current ratio of 0.74, a quick ratio of 0.32 and a debt-to-equity ratio of 1.45. WK Kellogg Co has a 12 month low of $14.80 and a 12 month high of $22.21. The stock has a fifty day moving average price of $18.46 and a 200-day moving average price of $18.49.

WK Kellogg (NYSE:KLG) last posted 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). The company had revenue of $667.00 million during the quarter, compared to analysts’ expectations of $677.91 million. WK Kellogg had a net margin of 2.66% and a return on equity of 39.81%. WK Kellogg’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.37 EPS. As a group, equities research analysts anticipate that WK Kellogg Co will post 1.57 earnings per share for the current fiscal year.

WK Kellogg Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date is Friday, May 30th. WK Kellogg’s payout ratio is currently 103.13%.

Analyst Upgrades and Downgrades

KLG has been the subject of a number of research reports. Morgan Stanley started coverage on shares of WK Kellogg in a research note on Monday, March 24th. They issued an “underweight” rating and a $18.00 price objective for the company. Jefferies Financial Group reduced their price target on shares of WK Kellogg from $19.00 to $16.00 and set a “hold” rating for the company in a report on Tuesday, January 28th. Four analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $16.86.

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.