LSV Asset Management Has $14.37 Million Stake in WK Kellogg Co (NYSE:KLG)

LSV Asset Management boosted its holdings in WK Kellogg Co (NYSE:KLG) by 572.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 798,571 shares of the company’s stock after purchasing an additional 679,888 shares during the quarter. LSV Asset Management’s holdings in WK Kellogg were worth $14,366,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of KLG. Halbert Hargrove Global Advisors LLC acquired a new position in shares of WK Kellogg during the fourth quarter valued at about $25,000. SBI Securities Co. Ltd. acquired a new stake in shares of WK Kellogg in the 4th quarter worth about $36,000. Wealthfront Advisers LLC bought a new position in WK Kellogg in the 4th quarter valued at about $44,000. GAMMA Investing LLC boosted its stake in 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 purchasing an additional 933 shares during the last quarter. Finally, Spire Wealth Management bought a new stake in WK Kellogg during the 4th quarter worth approximately $56,000. Institutional investors own 95.74% of the company’s stock.

WK Kellogg Trading Up 3.1 %

Shares of KLG stock opened at $19.43 on Friday. The company has a quick ratio of 0.32, a current ratio of 0.74 and a debt-to-equity ratio of 1.45. The firm has a market cap of $1.67 billion, a P/E ratio of 23.99, a PEG ratio of 2.01 and a beta of 0.39. The company has a 50 day moving average of $19.16 and a 200-day moving average of $18.31. WK Kellogg Co has a 12-month low of $15.17 and a 12-month high of $24.63.

WK Kellogg (NYSE:KLG) last released its earnings results on Tuesday, February 11th. The company reported $0.42 earnings per share (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%. Sell-side analysts anticipate that WK Kellogg Co will post 1.57 earnings per share for the current year.

WK Kellogg Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.165 per share. The ex-dividend date of this dividend was Friday, February 28th. This is an increase from WK Kellogg’s previous quarterly dividend of $0.16. This represents a $0.66 annualized dividend and a yield of 3.40%. WK Kellogg’s dividend payout ratio is 81.48%.

Analysts Set New Price Targets

KLG has been the topic of a number of recent research reports. Barclays dropped their target price on WK Kellogg from $19.00 to $16.00 and set an “underweight” rating on the stock in a report on Friday, January 17th. TD Cowen cut WK Kellogg from a “hold” rating to a “sell” rating and dropped their price objective for the company from $18.00 to $16.00 in a research note on Wednesday, January 8th. Morgan Stanley initiated coverage on shares of WK Kellogg in a research note on Monday, March 24th. They issued an “underweight” rating and a $18.00 target price for the company. Stifel Nicolaus dropped their price target 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. Finally, Jefferies Financial Group cut their price target on shares of WK Kellogg from $19.00 to $16.00 and set a “hold” rating on the stock in a report on Tuesday, January 28th. Five research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $17.89.

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.