WK Kellogg Co (NYSE:KLG) Shares Sold by Sanctuary Advisors LLC

Sanctuary Advisors LLC lessened its position in WK Kellogg Co (NYSE:KLG) by 48.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,002 shares of the company’s stock after selling 13,306 shares during the period. Sanctuary Advisors LLC’s holdings in WK Kellogg were worth $238,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of KLG. GAMMA Investing LLC increased its holdings in shares of WK Kellogg by 49.4% in the fourth quarter. GAMMA Investing LLC now owns 2,823 shares of the company’s stock valued at $51,000 after buying an additional 933 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of WK Kellogg by 13.2% in the 4th quarter. Janney Montgomery Scott LLC now owns 16,818 shares of the company’s stock worth $303,000 after acquiring an additional 1,955 shares during the last quarter. Spire Wealth Management acquired a new stake in shares of WK Kellogg during the fourth quarter worth $56,000. Inlet Private Wealth LLC lifted its holdings in shares of WK Kellogg by 1.0% during the fourth quarter. Inlet Private Wealth LLC now owns 324,040 shares of the company’s stock valued at $5,829,000 after purchasing an additional 3,200 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in shares of WK Kellogg by 65.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 8,802 shares of the company’s stock valued at $151,000 after purchasing an additional 3,471 shares during the period. Institutional investors and hedge funds own 95.74% of the company’s stock.

WK Kellogg Stock Performance

KLG stock opened at $19.12 on Thursday. The firm has a 50 day simple moving average of $17.64 and a 200 day simple moving average of $17.98. WK Kellogg Co has a 52 week low of $14.37 and a 52 week high of $24.63. The stock has a market cap of $1.65 billion, a P/E ratio of 23.60, a P/E/G ratio of 2.01 and a beta of 0.70. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.32 and a current ratio of 0.74.

WK Kellogg (NYSE:KLG) last issued its earnings results on Tuesday, February 11th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.14. WK Kellogg had a net margin of 2.66% and a return on equity of 39.81%. Research analysts anticipate that WK Kellogg Co will post 1.57 earnings per share for the current fiscal year.

WK Kellogg Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a $0.165 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.66 dividend on an annualized basis and a yield of 3.45%. This is an increase from WK Kellogg’s previous quarterly dividend of $0.16. WK Kellogg’s payout ratio is 81.48%.

Wall Street Analyst Weigh In

KLG has been the topic of several recent analyst reports. Stifel Nicolaus cut their price objective on WK Kellogg from $19.00 to $18.00 and set a “hold” rating on the stock in a report on Friday, January 24th. Barclays cut their price target on shares of WK Kellogg from $19.00 to $16.00 and set an “underweight” rating on the stock in a report on Friday, January 17th. Jefferies Financial Group reduced their price target on shares of WK Kellogg from $19.00 to $16.00 and set a “hold” rating for the company in a research report on Tuesday, January 28th. Finally, TD Cowen cut shares of WK Kellogg from a “hold” rating to a “sell” rating and lowered their price objective for the stock from $18.00 to $16.00 in a research report on Wednesday, January 8th. Four investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat, WK Kellogg has a consensus rating of “Hold” and an average target price of $17.88.

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.