Fisher Asset Management LLC Takes Position in WK Kellogg Co (NYSE:KLG)

Fisher Asset Management LLC bought a new position in WK Kellogg Co (NYSE:KLG) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,216 shares of the company’s stock, valued at approximately $55,000.

Other hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. purchased a new stake in shares of WK Kellogg in the fourth quarter worth about $4,461,000. Lincoln Capital Corp purchased a new stake in shares of WK Kellogg in the fourth quarter worth about $1,026,000. Nordea Investment Management AB purchased a new stake in shares of WK Kellogg in the fourth quarter worth about $2,119,000. Royal London Asset Management Ltd. purchased a new stake in shares of WK Kellogg in the fourth quarter worth about $695,000. Finally, Rip Road Capital Partners LP purchased a new stake in shares of WK Kellogg in the fourth quarter worth about $3,999,000. 95.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Barclays boosted their target price on WK Kellogg from $15.00 to $19.00 and gave the stock an “underweight” rating in a research report on Thursday, May 9th. Evercore ISI upped their price objective on WK Kellogg from $21.00 to $23.00 and gave the company an “in-line” rating in a research report on Wednesday, May 8th. Stifel Nicolaus upped their price objective on WK Kellogg from $20.00 to $22.00 and gave the company a “hold” rating in a research report 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 report on Wednesday, May 8th. Finally, BNP Paribas downgraded WK Kellogg from a “neutral” rating to an “underperform” rating and set a $20.00 price objective on the stock. in a research report on Wednesday, May 8th. Three research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to data from MarketBeat, WK Kellogg has a consensus rating of “Hold” and an average price target of $16.95.

WK Kellogg Stock Performance

KLG opened at $16.68 on Thursday. WK Kellogg Co has a one year low of $9.65 and a one year high of $24.63. The stock’s 50 day moving average price is $20.34 and its 200-day moving average price is $16.93. 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 announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.37 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.37. The firm had revenue of $707.00 million during the quarter, compared to the consensus estimate of $697.83 million. WK Kellogg’s quarterly revenue was down .7% compared to the same quarter last year. On average, sell-side analysts forecast that WK Kellogg Co will post 1.55 earnings per share for the current year.

WK Kellogg Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors 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 annualized dividend and a yield of 3.84%.

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.