11,106 Shares in WK Kellogg Co (NYSE:KLG) Purchased by Mackenzie Financial Corp

Mackenzie Financial Corp acquired a new position in shares of WK Kellogg Co (NYSE:KLG) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 11,106 shares of the company’s stock, valued at approximately $183,000.

Other hedge funds have also added to or reduced their stakes in the company. Texas Permanent School Fund Corp raised its stake in shares of WK Kellogg by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 57,706 shares of the company’s stock valued at $1,085,000 after purchasing an additional 754 shares during the period. Ancora Advisors LLC lifted its stake in WK Kellogg by 0.5% during the first quarter. Ancora Advisors LLC now owns 318,596 shares of the company’s stock worth $5,990,000 after purchasing an additional 1,550 shares during the last quarter. Alpha Omega Wealth Management LLC boosted its holdings in shares of WK Kellogg by 15.2% in the 1st quarter. Alpha Omega Wealth Management LLC now owns 13,080 shares of the company’s stock worth $246,000 after purchasing an additional 1,725 shares in the last quarter. Westhampton Capital LLC increased its position in shares of WK Kellogg by 2.5% during the 1st quarter. Westhampton Capital LLC now owns 83,494 shares of the company’s stock valued at $1,570,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of WK Kellogg by 15.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,638 shares of the company’s stock valued at $276,000 after buying an additional 2,009 shares in the last quarter. Institutional investors own 95.74% of the company’s stock.

WK Kellogg Trading Up 0.5 %

Shares of NYSE KLG opened at $16.95 on Tuesday. The business’s 50 day moving average price is $17.42 and its 200-day moving average price is $18.63. WK Kellogg Co has a fifty-two week low of $9.65 and a fifty-two week high of $24.63. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.36 and a current ratio of 0.83. The company has a market cap of $1.46 billion and a price-to-earnings ratio of 11.22.

WK Kellogg (NYSE:KLG) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.06). WK Kellogg had a return on equity of 42.12% and a net margin of 4.45%. The firm had revenue of $672.00 million for the quarter, compared to the consensus estimate of $671.50 million. WK Kellogg’s revenue for the quarter was down 4.0% on a year-over-year basis. On average, sell-side analysts expect that WK Kellogg Co will post 1.5 earnings per share for the current year.

WK Kellogg Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 29th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.78%. The ex-dividend date was Thursday, August 29th. WK Kellogg’s dividend payout ratio is presently 42.38%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered their target price on WK Kellogg from $22.00 to $17.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Stifel Nicolaus decreased their target price on shares of WK Kellogg from $22.00 to $18.00 and set a “hold” rating on the stock in a research note on Tuesday, July 23rd. Bank of America cut shares of WK Kellogg from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $24.00 to $17.00 in a research report on Wednesday, July 10th. Finally, Barclays lowered their price objective 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. Three analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $18.50.

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.