Acadian Asset Management LLC raised its position in WK Kellogg Co (NYSE:KLG – Free Report) by 64,642.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 73,806 shares of the company’s stock after buying an additional 73,692 shares during the period. Acadian Asset Management LLC owned 0.09% of WK Kellogg worth $1,213,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. acquired a new position in WK Kellogg in the fourth quarter valued at about $27,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of WK Kellogg in the fourth quarter worth about $31,000. Kapitalo Investimentos Ltda bought a new position in shares of WK Kellogg in the fourth quarter worth about $39,000. Quarry LP bought a new position in shares of WK Kellogg in the fourth quarter worth about $41,000. Finally, EntryPoint Capital LLC bought a new position in shares of WK Kellogg in the first quarter worth about $42,000. 95.74% of the stock is currently owned by institutional investors and hedge funds.
WK Kellogg Stock Performance
Shares of KLG opened at $18.37 on Monday. WK Kellogg Co has a 12 month low of $9.65 and a 12 month high of $24.63. The firm has a fifty day simple moving average of $17.06 and a 200 day simple moving average of $18.42. The stock has a market capitalization of $1.58 billion and a price-to-earnings ratio of 13.11. The company has a current ratio of 0.83, a quick ratio of 0.36 and a debt-to-equity ratio of 1.42.
WK Kellogg Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 29th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.48%. The ex-dividend date was Thursday, August 29th.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on KLG. Barclays dropped their price target on shares of WK Kellogg from $19.00 to $16.00 and set an “underweight” rating for the company in a research note on Friday, July 19th. Bank of America downgraded shares of WK Kellogg from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $24.00 to $17.00 in a research note on Wednesday, July 10th. JPMorgan Chase & Co. dropped their price target on shares of WK Kellogg from $22.00 to $17.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Finally, 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. Four equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $17.40.
Get Our Latest Analysis on WK Kellogg
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.
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