Spire Wealth Management Makes New Investment in WK Kellogg Co (NYSE:KLG)

Spire Wealth Management purchased a new stake in WK Kellogg Co (NYSE:KLG) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 3,105 shares of the company’s stock, valued at approximately $56,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Royce & Associates LP raised its stake in WK Kellogg by 199.8% in the third quarter. Royce & Associates LP now owns 71,987 shares of the company’s stock valued at $1,232,000 after buying an additional 47,973 shares during the last quarter. Barclays PLC increased its holdings in shares of WK Kellogg by 406.6% during the third quarter. Barclays PLC now owns 128,710 shares of the company’s stock valued at $2,202,000 after acquiring an additional 103,301 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of WK Kellogg by 7.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,112,558 shares of the company’s stock valued at $19,036,000 after purchasing an additional 79,808 shares during the last quarter. CWA Asset Management Group LLC boosted its stake in WK Kellogg by 191.9% in the 4th quarter. CWA Asset Management Group LLC now owns 49,010 shares of the company’s stock worth $882,000 after purchasing an additional 32,218 shares in the last quarter. Finally, Captrust Financial Advisors boosted its stake in WK Kellogg by 12,352.1% in the 3rd quarter. Captrust Financial Advisors now owns 1,516,417 shares of the company’s stock worth $25,946,000 after purchasing an additional 1,504,239 shares in the last quarter. Hedge funds and other institutional investors own 95.74% of the company’s stock.

WK Kellogg Stock Performance

Shares of WK Kellogg stock opened at $16.47 on Monday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.34 and a current ratio of 0.78. The business’s 50 day moving average price is $17.88 and its 200 day moving average price is $17.70. The company has a market cap of $1.42 billion, a price-to-earnings ratio of 21.12 and a beta of 0.70. WK Kellogg Co has a one year low of $12.32 and a one year high of $24.63.

WK Kellogg (NYSE:KLG) last issued its earnings results on Thursday, November 7th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.05. WK Kellogg had a net margin of 2.50% and a return on equity of 33.41%. The company had revenue of $689.00 million for the quarter, compared to the consensus estimate of $674.10 million. During the same period in the previous year, the firm earned $0.49 earnings per share. WK Kellogg’s quarterly revenue was down .4% compared to the same quarter last year. On average, research analysts predict that WK Kellogg Co will post 1.48 EPS for the current year.

WK Kellogg Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 4.01%. The ex-dividend date of this dividend is Friday, February 28th. This is a positive change from WK Kellogg’s previous quarterly dividend of $0.16. WK Kellogg’s dividend payout ratio is 84.62%.

Insider Transactions at WK Kellogg

In other news, Director G Zachary Gund bought 65,000 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were bought at an average price of $17.76 per share, with a total value of $1,154,400.00. Following the completion of the transaction, the director now directly owns 195,000 shares in the company, valued at $3,463,200. This trade represents a 50.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. TD Cowen cut shares of WK Kellogg from a “hold” rating to a “sell” rating and decreased their price objective for the company from $18.00 to $16.00 in a research note on Wednesday, January 8th. Barclays decreased 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 report on Friday, January 17th. Stifel Nicolaus cut their price target on WK Kellogg from $19.00 to $18.00 and set a “hold” rating on the stock in a research report on Friday, January 24th. Finally, Jefferies Financial Group reduced their price objective on WK Kellogg from $19.00 to $16.00 and set a “hold” rating for the company in a research note on Tuesday, January 28th. Four analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $17.88.

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.