77,287 Shares in WK Kellogg Co (NYSE:KLG) Purchased by Algert Global LLC

Algert Global LLC acquired a new position in WK Kellogg Co (NYSE:KLG) in the 2nd quarter, HoldingsChannel reports. The fund acquired 77,287 shares of the company’s stock, valued at approximately $1,272,000.

Several other large investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its holdings in WK Kellogg by 579.1% in the 2nd quarter. AQR Capital Management LLC now owns 1,403,854 shares of the company’s stock worth $23,107,000 after acquiring an additional 1,197,133 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in WK Kellogg by 9.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 904,699 shares of the company’s stock worth $14,891,000 after acquiring an additional 77,262 shares during the last quarter. Jupiter Asset Management Ltd. increased its holdings in WK Kellogg by 64.4% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 873,047 shares of the company’s stock worth $14,370,000 after acquiring an additional 341,939 shares during the last quarter. Rodgers Brothers Inc. increased its holdings in WK Kellogg by 2,253.3% in the 1st quarter. Rodgers Brothers Inc. now owns 623,468 shares of the company’s stock worth $11,721,000 after acquiring an additional 596,975 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in WK Kellogg by 124.5% in the 2nd quarter. Renaissance Technologies LLC now owns 538,600 shares of the company’s stock worth $8,865,000 after acquiring an additional 298,700 shares during the last quarter. Hedge funds and other institutional investors own 95.74% of the company’s stock.

Analysts Set New Price Targets

KLG has been the subject of several recent research reports. Barclays decreased their price objective on WK Kellogg from $19.00 to $16.00 and set an “underweight” rating for the company in a report on Friday, July 19th. Bank of America lowered WK Kellogg from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $24.00 to $17.00 in a report on Wednesday, July 10th. 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 report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. reduced their target price on WK Kellogg from $22.00 to $17.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Three investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $18.50.

WK Kellogg Stock Up 0.8 %

KLG stock opened at $16.85 on Friday. The firm has a market capitalization of $1.45 billion and a PE ratio of 11.16. The company has a quick ratio of 0.36, a current ratio of 0.83 and a debt-to-equity ratio of 1.42. The stock has a 50-day simple moving average of $17.43 and a two-hundred day simple moving average of $18.62. WK Kellogg Co has a twelve month low of $9.65 and a twelve month high of $24.63.

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

WK Kellogg Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 29th were given a dividend of $0.16 per share. The ex-dividend date was Thursday, August 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.80%. WK Kellogg’s dividend payout ratio (DPR) is presently 42.38%.

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.