State of Alaska Department of Revenue Has $645,000 Stock Holdings in WK Kellogg Co (NYSE:KLG)

State of Alaska Department of Revenue decreased its stake in WK Kellogg Co (NYSE:KLG) by 2.8% in the 3rd quarter, Holdings Channel.com reports. The fund owned 37,746 shares of the company’s stock after selling 1,078 shares during the quarter. State of Alaska Department of Revenue’s holdings in WK Kellogg were worth $645,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of KLG. GAMMA Investing LLC increased its holdings in WK Kellogg by 88.6% during the third quarter. GAMMA Investing LLC now owns 1,890 shares of the company’s stock worth $32,000 after buying an additional 888 shares during the last quarter. EntryPoint Capital LLC bought a new position in shares of WK Kellogg in the 1st quarter valued at about $42,000. Rothschild Investment LLC acquired a new position in shares of WK Kellogg during the 2nd quarter worth about $46,000. International Assets Investment Management LLC increased its stake in shares of WK Kellogg by 1,724.1% during the 3rd quarter. International Assets Investment Management LLC now owns 4,688 shares of the company’s stock worth $80,000 after purchasing an additional 4,431 shares during the last quarter. Finally, nVerses Capital LLC bought a new stake in shares of WK Kellogg in the 3rd quarter valued at about $99,000. Institutional investors and hedge funds own 95.74% of the company’s stock.

WK Kellogg Price Performance

Shares of NYSE KLG opened at $19.66 on Friday. The firm has a market cap of $1.69 billion and a P/E ratio of 14.04. The business’s 50 day moving average is $17.51 and its 200-day moving average is $18.21. The company has a current ratio of 0.83, a quick ratio of 0.36 and a debt-to-equity ratio of 1.42. WK Kellogg Co has a 1-year low of $10.11 and a 1-year high of $24.63.

WK Kellogg (NYSE:KLG) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.06). The firm had revenue of $672.00 million for the quarter, compared to the consensus estimate of $671.50 million. WK Kellogg had a return on equity of 42.12% and a net margin of 4.45%. The company’s revenue for the quarter was down 4.0% on a year-over-year basis. Equities research analysts predict that WK Kellogg Co will post 1.5 earnings per share for the current year.

WK Kellogg Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend is Friday, November 29th. WK Kellogg’s dividend payout ratio is 45.71%.

Wall Street Analyst Weigh In

A number of research firms recently commented on KLG. JPMorgan Chase & Co. reduced their price target on WK Kellogg from $22.00 to $17.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Stifel Nicolaus reduced their target price on WK Kellogg from $22.00 to $18.00 and set a “hold” rating for the company in a research note on Tuesday, July 23rd. Finally, Barclays dropped their price target on WK Kellogg from $19.00 to $16.00 and set an “underweight” rating on the stock in a research note on Friday, July 19th. Three research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $18.50.

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.