WK Kellogg Co. $KLG Shares Bought by SPC Financial Inc.

SPC Financial Inc. grew its position in shares of WK Kellogg Co. (NYSE:KLG) by 4.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,707 shares of the company’s stock after acquiring an additional 636 shares during the quarter. SPC Financial Inc.’s holdings in WK Kellogg were worth $218,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. boosted its position in shares of WK Kellogg by 1,030.8% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 3,675 shares of the company’s stock worth $73,000 after buying an additional 3,350 shares during the period. Quantbot Technologies LP purchased a new stake in shares of WK Kellogg in the first quarter worth about $87,000. Advisor OS LLC purchased a new stake in shares of WK Kellogg in the first quarter worth about $200,000. Cambridge Investment Research Advisors Inc. boosted its position in shares of WK Kellogg by 7.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 10,757 shares of the company’s stock worth $214,000 after buying an additional 733 shares during the period. Finally, Money Concepts Capital Corp purchased a new position in WK Kellogg in the first quarter valued at about $214,000. Hedge funds and other institutional investors own 95.74% of the company’s stock.

WK Kellogg Stock Performance

KLG opened at $23.00 on Monday. The company has a market cap of $1.99 billion, a PE ratio of 62.16 and a beta of 0.24. The stock has a 50-day moving average of $23.01 and a 200-day moving average of $20.09. WK Kellogg Co. has a 52-week low of $14.80 and a 52-week high of $23.56. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.47 and a current ratio of 0.99.

WK Kellogg (NYSE:KLG) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.03). The company had revenue of $611.52 million for the quarter, compared to the consensus estimate of $653.36 million. WK Kellogg had a return on equity of 31.34% and a net margin of 1.31%.The business’s revenue was down 8.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.36 EPS. As a group, equities research analysts forecast that WK Kellogg Co. will post 1.57 earnings per share for the current fiscal year.

WK Kellogg Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 29th were paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Friday, August 29th. WK Kellogg’s dividend payout ratio is 178.38%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on KLG. Evercore ISI raised their price objective on WK Kellogg from $19.00 to $23.00 and gave the company an “in-line” rating in a research note on Friday, July 11th. Cowen upgraded WK Kellogg from a “sell” rating to a “hold” rating in a research note on Friday, July 11th. JPMorgan Chase & Co. began coverage on WK Kellogg in a research note on Wednesday, August 20th. They set a “neutral” rating and a $23.00 price objective for the company. Wall Street Zen upgraded WK Kellogg from a “sell” rating to a “hold” rating in a research note on Sunday, July 13th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of WK Kellogg in a research report on Saturday, September 27th. Nine analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $20.88.

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.