Captrust Financial Advisors Purchases 189,092 Shares of WK Kellogg Co (NYSE:KLG)

Captrust Financial Advisors boosted its position in shares of WK Kellogg Co (NYSE:KLG) by 12.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,705,509 shares of the company’s stock after acquiring an additional 189,092 shares during the period. Captrust Financial Advisors’ holdings in WK Kellogg were worth $30,682,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in KLG. Halbert Hargrove Global Advisors LLC bought a new position in shares of WK Kellogg during the 4th quarter valued at approximately $25,000. Ancora Advisors LLC lifted its position in WK Kellogg by 181.8% during the fourth quarter. Ancora Advisors LLC now owns 1,519 shares of the company’s stock valued at $27,000 after purchasing an additional 980 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in WK Kellogg during the fourth quarter valued at $36,000. Wealthfront Advisers LLC purchased a new position in shares of WK Kellogg in the 4th quarter worth $44,000. Finally, GAMMA Investing LLC raised its position in shares of 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 in the last quarter. Hedge funds and other institutional investors own 95.74% of the company’s stock.

WK Kellogg Stock Down 3.1 %

NYSE:KLG opened at $17.37 on Tuesday. The company has a market cap of $1.50 billion, a price-to-earnings ratio of 21.45, a price-to-earnings-growth ratio of 2.01 and a beta of 0.39. WK Kellogg Co has a twelve month low of $15.17 and a twelve month high of $24.56. 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 $19.13 and a 200-day simple moving average of $18.45.

WK Kellogg (NYSE:KLG) last released its quarterly earnings data on Tuesday, February 11th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.14. WK Kellogg had a net margin of 2.66% and a return on equity of 39.81%. Analysts anticipate that WK Kellogg Co will post 1.57 EPS for the current year.

WK Kellogg Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be paid a $0.165 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.66 annualized dividend and a yield of 3.80%. WK Kellogg’s dividend payout ratio (DPR) is currently 81.48%.

Analyst Ratings Changes

KLG has been the subject of several recent research reports. Stifel Nicolaus dropped their price target on WK Kellogg from $19.00 to $18.00 and set a “hold” rating for the company in a research report on Friday, January 24th. TD Cowen downgraded WK Kellogg from a “hold” rating to a “sell” rating and cut their target price for the company from $18.00 to $16.00 in a research report on Wednesday, January 8th. Jefferies Financial Group lowered their price target 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. Morgan Stanley started coverage on shares of WK Kellogg in a research note on Monday, March 24th. They set an “underweight” rating and a $18.00 price objective for the company. Finally, Barclays reduced their target price on shares of WK Kellogg from $19.00 to $16.00 and set an “underweight” rating on the stock in a research note on Friday, January 17th. Five investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $17.89.

WK Kellogg 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.