Curat Global LLC Purchases New Position in WK Kellogg Co (NYSE:KLG)

Curat Global LLC purchased a new stake in WK Kellogg Co (NYSE:KLG) during the 1st quarter, HoldingsChannel.com reports. The fund purchased 3,288 shares of the company’s stock, valued at approximately $66,000.

Several other large investors have also added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. lifted its position in shares of WK Kellogg by 11.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,240,046 shares of the company’s stock worth $22,308,000 after buying an additional 127,488 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of WK Kellogg by 1,217.5% during the 4th quarter. Victory Capital Management Inc. now owns 233,997 shares of the company’s stock worth $4,210,000 after buying an additional 216,236 shares in the last quarter. Royce & Associates LP lifted its position in shares of WK Kellogg by 46.0% during the 4th quarter. Royce & Associates LP now owns 105,134 shares of the company’s stock worth $1,891,000 after buying an additional 33,147 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of WK Kellogg during the 4th quarter worth approximately $273,000. Finally, Alberta Investment Management Corp bought a new position in shares of WK Kellogg during the 4th quarter worth approximately $2,022,000. Institutional investors own 95.74% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Morgan Stanley began coverage on shares of WK Kellogg in a research report on Monday, March 24th. They set an “underweight” rating and a $18.00 target price on the stock. Four research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $16.86.

WK Kellogg Trading Up 0.1%

Shares of KLG stock opened at $15.67 on Friday. WK Kellogg Co has a 12-month low of $14.80 and a 12-month high of $22.21. The firm has a market cap of $1.35 billion, a P/E ratio of 19.35, a PEG ratio of 2.01 and a beta of 0.35. The company has a quick ratio of 0.32, a current ratio of 0.74 and a debt-to-equity ratio of 1.45. The company has a 50 day moving average of $17.93 and a 200-day moving average of $18.40.

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

WK Kellogg Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be paid a $0.165 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.66 dividend on an annualized basis and a yield of 4.21%. WK Kellogg’s dividend payout ratio is 103.13%.

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.