Quarry LP Takes Position in WK Kellogg Co (NYSE:KLG)

Quarry LP purchased a new stake in shares of WK Kellogg Co (NYSE:KLG) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 3,137 shares of the company’s stock, valued at approximately $41,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Caas Capital Management LP purchased a new position in shares of WK Kellogg in the 4th quarter worth approximately $2,986,000. Rip Road Capital Partners LP bought a new stake in WK Kellogg during the fourth quarter worth $3,999,000. CenterBook Partners LP purchased a new position in WK Kellogg in the fourth quarter worth $5,817,000. Keeley Teton Advisors LLC bought a new position in WK Kellogg in the 4th quarter valued at $3,922,000. Finally, Gabelli Funds LLC purchased a new stake in shares of WK Kellogg during the 4th quarter valued at $651,000. 95.74% of the stock is currently owned by hedge funds and other institutional investors.

WK Kellogg Trading Down 0.3 %

KLG stock opened at $17.82 on Monday. The stock has a 50-day simple moving average of $20.92 and a two-hundred day simple moving average of $16.64. WK Kellogg Co has a twelve month low of $9.65 and a twelve month high of $24.63. The company has a quick ratio of 0.43, a current ratio of 0.84 and a debt-to-equity ratio of 1.53.

WK Kellogg (NYSE:KLG) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.37 EPS for the quarter, meeting the consensus estimate of $0.37. The firm had revenue of $707.00 million for the quarter, compared to analysts’ expectations of $697.83 million. The firm’s quarterly revenue was down .7% compared to the same quarter last year. As a group, sell-side analysts predict that WK Kellogg Co will post 1.55 EPS for the current year.

WK Kellogg Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were paid a $0.16 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.64 dividend on an annualized basis and a yield of 3.59%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on KLG. Barclays boosted their price target on shares of WK Kellogg from $15.00 to $19.00 and gave the stock an “underweight” rating in a report on Thursday, May 9th. Evercore ISI raised their price target on shares of WK Kellogg from $21.00 to $23.00 and gave the stock an “in-line” rating in a research note on Wednesday, May 8th. TD Cowen upped their price objective on WK Kellogg from $13.00 to $24.00 and gave the company a “hold” rating in a research note on Wednesday, May 8th. Stifel Nicolaus boosted their target price on WK Kellogg from $20.00 to $22.00 and gave the company a “hold” rating in a research note on Wednesday, May 8th. Finally, BNP Paribas downgraded WK Kellogg from a “neutral” rating to an “underperform” rating and set a $20.00 price target for the company. in a research note on Wednesday, May 8th. Three investment analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $16.95.

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.