Dimensional Fund Advisors LP Purchases 46,735 Shares of WK Kellogg Co (NYSE:KLG)

Dimensional Fund Advisors LP increased its holdings in WK Kellogg Co (NYSE:KLG) by 11.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 439,258 shares of the company’s stock after purchasing an additional 46,735 shares during the period. Dimensional Fund Advisors LP owned approximately 0.51% of WK Kellogg worth $7,232,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Kapitalo Investimentos Ltda purchased a new position in shares of WK Kellogg in the 4th quarter worth approximately $39,000. Quarry LP purchased a new position in WK Kellogg during the fourth quarter worth $41,000. EntryPoint Capital LLC purchased a new position in WK Kellogg during the first quarter worth $42,000. Rothschild Investment LLC bought a new position in WK Kellogg during the second quarter valued at $46,000. Finally, Fisher Asset Management LLC purchased a new stake in shares of WK Kellogg in the fourth quarter valued at $55,000. Hedge funds and other institutional investors own 95.74% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on KLG. Stifel Nicolaus dropped their price target on shares of WK Kellogg from $22.00 to $18.00 and set a “hold” rating for the company in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. cut their target price on WK Kellogg from $22.00 to $17.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Bank of America downgraded WK Kellogg from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $24.00 to $17.00 in a report on Wednesday, July 10th. 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 report on Friday, July 19th. Three analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $18.50.

WK Kellogg Trading Up 3.2 %

Shares of NYSE KLG opened at $17.46 on Wednesday. The firm has a market cap of $1.50 billion and a PE ratio of 11.56. The company has a quick ratio of 0.36, a current ratio of 0.83 and a debt-to-equity ratio of 1.42. WK Kellogg Co has a twelve month low of $9.65 and a twelve month high of $24.63. The business has a fifty day simple moving average of $17.43 and a two-hundred day simple moving average of $18.62.

WK Kellogg (NYSE:KLG) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.06). The business had revenue of $672.00 million during 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 business’s quarterly revenue was down 4.0% on a year-over-year basis. Analysts expect that WK Kellogg Co will post 1.5 earnings per share for the current fiscal year.

WK Kellogg Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 29th were issued a $0.16 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.67%. WK Kellogg’s dividend payout ratio is presently 42.38%.

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.