Hussman Strategic Advisors Inc. Invests $2.27 Million in WK Kellogg Co (NYSE:KLG)

Hussman Strategic Advisors Inc. purchased a new position in shares of WK Kellogg Co (NYSE:KLG) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 126,000 shares of the company’s stock, valued at approximately $2,267,000. Hussman Strategic Advisors Inc. owned approximately 0.15% of WK Kellogg as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC raised its holdings 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 worth $51,000 after buying an additional 933 shares in the last quarter. Spire Wealth Management acquired a new position in shares of WK Kellogg during the 4th quarter worth $56,000. Abich Financial Wealth Management LLC increased its holdings in WK Kellogg by 3,575.4% in the 3rd quarter. Abich Financial Wealth Management LLC now owns 4,484 shares of the company’s stock worth $77,000 after purchasing an additional 4,362 shares in the last quarter. International Assets Investment Management LLC increased its holdings in WK Kellogg by 1,724.1% in the 3rd quarter. International Assets Investment Management LLC now owns 4,688 shares of the company’s stock worth $80,000 after purchasing an additional 4,431 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in WK Kellogg by 65.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 8,802 shares of the company’s stock worth $151,000 after purchasing an additional 3,471 shares in the last quarter. Institutional investors and hedge funds own 95.74% of the company’s stock.

WK Kellogg Trading Up 2.5 %

NYSE KLG opened at $19.84 on Thursday. The business’s 50-day moving average price is $17.51 and its two-hundred day moving average price is $17.77. WK Kellogg Co has a 12 month low of $14.36 and a 12 month high of $24.63. The firm has a market capitalization of $1.71 billion, a PE ratio of 24.49, a price-to-earnings-growth ratio of 2.01 and a beta of 0.70. The company has a current ratio of 0.74, a quick ratio of 0.32 and a debt-to-equity ratio of 1.45.

WK Kellogg (NYSE:KLG) last released its quarterly earnings results on Tuesday, February 11th. The company reported $0.42 EPS for the quarter, beating 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%. On average, analysts expect that WK Kellogg Co will post 1.57 EPS for the current year.

WK Kellogg Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a dividend of $0.165 per share. This is a positive change from WK Kellogg’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.66 annualized dividend and a dividend yield of 3.33%. WK Kellogg’s dividend payout ratio is presently 79.01%.

Analysts Set New Price Targets

A number of brokerages have issued reports on KLG. TD Cowen cut WK Kellogg from a “hold” rating to a “sell” rating and lowered their target price for the stock from $18.00 to $16.00 in a report on Wednesday, January 8th. Barclays lowered 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. Jefferies Financial Group lowered their target price on WK Kellogg from $19.00 to $16.00 and set a “hold” rating for the company in a report on Tuesday, January 28th. Finally, Stifel Nicolaus lowered their target price on WK Kellogg from $19.00 to $18.00 and set a “hold” rating for the company in a report on Friday, January 24th. Four investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $17.88.

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.