Bfsg LLC Decreases Stake in WK Kellogg Co (NYSE:KLG)

Bfsg LLC cut its position in WK Kellogg Co (NYSE:KLG) by 20.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,042 shares of the company’s stock after selling 1,045 shares during the period. Bfsg LLC’s holdings in WK Kellogg were worth $73,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Royce & Associates LP raised its position in shares of WK Kellogg by 199.8% during the 3rd quarter. Royce & Associates LP now owns 71,987 shares of the company’s stock worth $1,232,000 after acquiring an additional 47,973 shares in the last quarter. Barclays PLC raised its holdings in WK Kellogg by 406.6% during the third quarter. Barclays PLC now owns 128,710 shares of the company’s stock worth $2,202,000 after purchasing an additional 103,301 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of WK Kellogg by 7.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,112,558 shares of the company’s stock worth $19,036,000 after buying an additional 79,808 shares during the last quarter. CWA Asset Management Group LLC lifted its position in shares of WK Kellogg by 191.9% during the 4th quarter. CWA Asset Management Group LLC now owns 49,010 shares of the company’s stock worth $882,000 after buying an additional 32,218 shares during the last quarter. Finally, Captrust Financial Advisors boosted its holdings in shares of WK Kellogg by 12,352.1% in the 3rd quarter. Captrust Financial Advisors now owns 1,516,417 shares of the company’s stock valued at $25,946,000 after buying an additional 1,504,239 shares in the last quarter. 95.74% of the stock is currently owned by institutional investors and hedge funds.

WK Kellogg Stock Up 2.5 %

KLG opened at $19.84 on Thursday. WK Kellogg Co has a 52 week low of $14.36 and a 52 week high of $24.63. The business has a 50 day moving average price of $17.51 and a two-hundred day moving average price of $17.77. 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 company has a market cap of $1.71 billion, a PE ratio of 24.49, a P/E/G ratio of 2.01 and a beta of 0.70.

WK Kellogg (NYSE:KLG) last released its quarterly earnings results on Tuesday, February 11th. The company reported $0.42 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%. As a group, research analysts anticipate that WK Kellogg Co will post 1.57 EPS for the current 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 3.33%. The ex-dividend date is Friday, February 28th. This is a boost from WK Kellogg’s previous quarterly dividend of $0.16. WK Kellogg’s dividend payout ratio (DPR) is 79.01%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on KLG shares. Stifel Nicolaus reduced their price target on shares of WK Kellogg from $19.00 to $18.00 and set a “hold” rating for the company in a research report on Friday, January 24th. Barclays reduced their target price on WK Kellogg from $19.00 to $16.00 and set an “underweight” rating for the company in a report on Friday, January 17th. TD Cowen cut WK Kellogg from a “hold” rating to a “sell” rating and decreased their target price for the company from $18.00 to $16.00 in a research report on Wednesday, January 8th. Finally, Jefferies Financial Group cut their price target on WK Kellogg from $19.00 to $16.00 and set a “hold” rating on the stock in a research report on Tuesday, January 28th. Four investment analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $17.88.

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.