Victory Capital Management Inc. Raises Stock Position in WK Kellogg Co (NYSE:KLG)

Victory Capital Management Inc. increased its stake in WK Kellogg Co (NYSE:KLG) by 1,217.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 233,997 shares of the company’s stock after purchasing an additional 216,236 shares during the quarter. Victory Capital Management Inc.’s holdings in WK Kellogg were worth $4,210,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KLG. Halbert Hargrove Global Advisors LLC purchased a new stake in WK Kellogg in the fourth quarter worth approximately $25,000. SBI Securities Co. Ltd. bought a new position in WK Kellogg in the fourth quarter worth approximately $36,000. GAMMA Investing LLC raised its position in WK Kellogg by 49.4% in the fourth quarter. GAMMA Investing LLC now owns 2,823 shares of the company’s stock worth $51,000 after acquiring an additional 933 shares during the period. Spire Wealth Management purchased a new position in shares of WK Kellogg during the 4th quarter valued at $56,000. Finally, Transcendent Capital Group LLC lifted its stake in shares of WK Kellogg by 9,608.0% during the 4th quarter. Transcendent Capital Group LLC now owns 4,854 shares of the company’s stock valued at $87,000 after buying an additional 4,804 shares in the last quarter. Hedge funds and other institutional investors own 95.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on KLG. Stifel Nicolaus lowered their price objective 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. TD Cowen lowered WK Kellogg from a “hold” rating to a “sell” rating and dropped their price objective for the stock from $18.00 to $16.00 in a research note on Wednesday, January 8th. Jefferies Financial Group dropped 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. Finally, Barclays dropped their price objective on WK Kellogg from $19.00 to $16.00 and set an “underweight” rating for the company in a research note on Friday, January 17th. Four analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $17.88.

WK Kellogg Price Performance

Shares of WK Kellogg stock opened at $20.12 on Friday. The stock has a 50 day moving average of $17.97 and a 200 day moving average of $18.11. WK Kellogg Co has a 12 month low of $15.17 and a 12 month high of $24.63. The firm has a market cap of $1.73 billion, a PE ratio of 24.83, a PEG ratio of 2.01 and a beta of 0.30. 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 (NYSE:KLG) last announced its quarterly earnings results on Tuesday, February 11th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.14. WK Kellogg had a return on equity of 39.81% and a net margin of 2.66%. On average, research analysts expect that WK Kellogg Co will post 1.57 EPS for the current fiscal year.

WK Kellogg Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a dividend of $0.165 per share. The ex-dividend date was Friday, February 28th. This is a positive change from WK Kellogg’s previous quarterly dividend of $0.16. This represents a $0.66 dividend on an annualized basis and a yield of 3.28%. WK Kellogg’s dividend payout ratio is presently 81.48%.

WK Kellogg 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.