Everence Capital Management Inc. Makes New Investment in WK Kellogg Co (NYSE:KLG)

Everence Capital Management Inc. bought a new position in WK Kellogg Co (NYSE:KLG) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 13,630 shares of the company’s stock, valued at approximately $179,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Canal Insurance CO acquired a new stake in shares of WK Kellogg in the 4th quarter worth $26,000. Toth Financial Advisory Corp acquired a new stake in shares of WK Kellogg during the 4th quarter worth about $26,000. S.A. Mason LLC acquired a new stake in shares of WK Kellogg during the 4th quarter worth about $30,000. Fifth Third Bancorp acquired a new stake in shares of WK Kellogg during the 4th quarter worth about $32,000. Finally, Financiere des Professionnels Fonds d investissement inc. acquired a new stake in shares of WK Kellogg during the 4th quarter worth about $36,000. 95.74% of the stock is owned by institutional investors and hedge funds.

WK Kellogg Price Performance

NYSE KLG opened at $21.22 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.84 and a debt-to-equity ratio of 1.62. The stock has a 50-day moving average of $17.22 and a two-hundred day moving average of $13.73. WK Kellogg Co has a 1-year low of $9.65 and a 1-year high of $22.08.

WK Kellogg (NYSE:KLG) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.03). The firm had revenue of $651.00 million during the quarter, compared to analyst estimates of $645.87 million. WK Kellogg’s revenue was down 2.7% on a year-over-year basis. On average, sell-side analysts anticipate that WK Kellogg Co will post 1.51 earnings per share for the current fiscal year.

WK Kellogg Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 3.02%. The ex-dividend date of this dividend was Thursday, February 29th.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on KLG shares. Stifel Nicolaus raised their price objective on WK Kellogg from $11.00 to $13.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. Barclays raised their price objective on WK Kellogg from $12.00 to $15.00 and gave the stock an “underweight” rating in a research report on Friday, April 12th. Two equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $12.75.

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.