Rhumbline Advisers Sells 7,285 Shares of WK Kellogg Co (NYSE:KLG)

Rhumbline Advisers decreased its position in shares of WK Kellogg Co (NYSE:KLG) by 3.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 184,754 shares of the company’s stock after selling 7,285 shares during the period. Rhumbline Advisers owned approximately 0.21% of WK Kellogg worth $3,324,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in WK Kellogg by 49.4% during the 4th quarter. GAMMA Investing LLC now owns 2,823 shares of the company’s stock valued at $51,000 after buying an additional 933 shares during the period. Janney Montgomery Scott LLC raised its stake in shares of WK Kellogg by 13.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 16,818 shares of the company’s stock valued at $303,000 after acquiring an additional 1,955 shares during the last quarter. Spire Wealth Management purchased a new stake in shares of WK Kellogg during the fourth quarter worth about $56,000. Inlet Private Wealth LLC grew its stake in shares of WK Kellogg by 1.0% in the fourth quarter. Inlet Private Wealth LLC now owns 324,040 shares of the company’s stock worth $5,829,000 after purchasing an additional 3,200 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in WK Kellogg by 65.1% during 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 own 95.74% of the company’s stock.

WK Kellogg Trading Up 0.5 %

NYSE:KLG opened at $19.86 on Friday. The company has a current ratio of 0.74, a quick ratio of 0.32 and a debt-to-equity ratio of 1.45. The firm has a fifty day simple moving average of $17.57 and a 200-day simple moving average of $17.92. WK Kellogg Co has a 12 month low of $14.37 and a 12 month high of $24.63. The company has a market capitalization of $1.71 billion, a P/E ratio of 24.51, a PEG ratio of 2.01 and a beta of 0.70.

WK Kellogg (NYSE:KLG) last posted 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%. On average, equities research analysts anticipate that WK Kellogg Co will post 1.57 earnings per share for the current year.

WK Kellogg Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors 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 3.32%. This is a boost from WK Kellogg’s previous quarterly dividend of $0.16. WK Kellogg’s dividend payout ratio (DPR) is currently 81.48%.

Analyst Upgrades and Downgrades

KLG has been the topic of several recent analyst reports. 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. Stifel Nicolaus reduced their price target on shares of WK Kellogg from $19.00 to $18.00 and set a “hold” rating on the stock in a research report on Friday, January 24th. Jefferies Financial Group decreased 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 note on Tuesday, January 28th. Finally, TD Cowen cut WK Kellogg from a “hold” rating to a “sell” rating and cut their price objective for the company 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 given a hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target 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.