A&I Financial Services LLC Acquires Shares of 30,728 WK Kellogg Co (NYSE:KLG)

A&I Financial Services LLC acquired a new stake in shares of WK Kellogg Co (NYSE:KLG) in the 4th quarter, HoldingsChannel reports. The fund acquired 30,728 shares of the company’s stock, valued at approximately $553,000. WK Kellogg comprises about 0.5% of A&I Financial Services LLC’s holdings, making the stock its 29th biggest holding.

A number of other institutional investors also recently modified their holdings of KLG. International Assets Investment Management LLC lifted its stake in WK Kellogg by 1,724.1% in the third quarter. International Assets Investment Management LLC now owns 4,688 shares of the company’s stock worth $80,000 after acquiring an additional 4,431 shares during the period. Nisa Investment Advisors LLC lifted 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 worth $151,000 after purchasing an additional 3,471 shares during the period. Atlas Financial Advisors Inc. purchased a new stake in shares of WK Kellogg in the 3rd quarter worth about $818,000. CWA Asset Management Group LLC purchased a new stake in shares of WK Kellogg in the 3rd quarter worth about $287,000. Finally, GSA Capital Partners LLP bought a new stake in shares of WK Kellogg during the 3rd quarter valued at about $602,000. 95.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on KLG shares. 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. Stifel Nicolaus dropped their price target on WK Kellogg from $19.00 to $18.00 and set a “hold” rating on the stock in a research report on Friday, January 24th. Barclays reduced their price target on WK Kellogg from $19.00 to $16.00 and set an “underweight” rating on the stock in a research note on Friday, January 17th. Finally, Jefferies Financial Group lowered their price objective on WK Kellogg from $19.00 to $16.00 and set a “hold” rating for the company in a research report on Tuesday, January 28th. Four analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $17.88.

WK Kellogg Stock Down 1.0 %

Shares of NYSE:KLG opened at $19.74 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 stock has a fifty day simple moving average of $17.53 and a two-hundred day simple moving average of $17.89. WK Kellogg Co has a 12-month low of $14.36 and a 12-month high of $24.63. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 24.36, a PEG ratio of 2.01 and a beta of 0.70.

WK Kellogg (NYSE:KLG) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate 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, 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. Stockholders of record on Friday, February 28th will be paid a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend is Friday, February 28th. This is an increase from WK Kellogg’s previous quarterly dividend of $0.16. WK Kellogg’s dividend 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.