Private Advisor Group LLC Grows Stock Position in WK Kellogg Co (NYSE:KLG)

Private Advisor Group LLC boosted its stake in shares of WK Kellogg Co (NYSE:KLG) by 25.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,083 shares of the company’s stock after acquiring an additional 4,125 shares during the quarter. Private Advisor Group LLC’s holdings in WK Kellogg were worth $361,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Alberta Investment Management Corp bought a new position in shares of WK Kellogg during the fourth quarter valued at about $2,022,000. Truist Financial Corp increased its holdings in WK Kellogg by 2.2% during the 4th quarter. Truist Financial Corp now owns 39,658 shares of the company’s stock valued at $713,000 after purchasing an additional 838 shares during the period. Principal Financial Group Inc. raised its position in WK Kellogg by 3.3% during the 4th quarter. Principal Financial Group Inc. now owns 323,586 shares of the company’s stock valued at $5,821,000 after purchasing an additional 10,243 shares during the last quarter. New York State Teachers Retirement System raised its position in WK Kellogg by 8.3% during the 4th quarter. New York State Teachers Retirement System now owns 83,393 shares of the company’s stock valued at $1,500,000 after purchasing an additional 6,395 shares during the last quarter. Finally, Spire Wealth Management purchased a new stake in WK Kellogg in the 4th quarter worth approximately $56,000. 95.74% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

WK Kellogg Stock Performance

KLG opened at $18.98 on Wednesday. The company’s 50 day moving average is $17.62 and its 200 day moving average is $17.97. 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 company has a market cap of $1.64 billion, a price-to-earnings ratio of 23.44, a PEG ratio of 2.01 and a beta of 0.70. WK Kellogg Co has a 12-month low of $14.37 and a 12-month high of $24.63.

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

WK Kellogg Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a $0.165 dividend. The ex-dividend date of this dividend is Friday, February 28th. This is a boost from WK Kellogg’s previous quarterly dividend of $0.16. This represents a $0.66 dividend on an annualized basis and a yield of 3.48%. WK Kellogg’s payout ratio is currently 81.48%.

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.