Illinois Municipal Retirement Fund Purchases 3,222 Shares of WK Kellogg Co (NYSE:KLG)

Illinois Municipal Retirement Fund grew its position in shares of WK Kellogg Co (NYSE:KLG) by 10.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 35,190 shares of the company’s stock after acquiring an additional 3,222 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in WK Kellogg were worth $633,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Truist Financial Corp lifted its holdings in shares of WK Kellogg by 2.2% during the 4th quarter. Truist Financial Corp now owns 39,658 shares of the company’s stock valued at $713,000 after buying an additional 838 shares during the period. GAMMA Investing LLC lifted 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 valued at $51,000 after buying an additional 933 shares during the period. Janney Montgomery Scott LLC lifted its holdings in shares of WK Kellogg by 13.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 16,818 shares of the company’s stock valued at $303,000 after buying an additional 1,955 shares during the period. Spire Wealth Management bought a new position in shares of WK Kellogg during the 4th quarter valued at $56,000. Finally, Inlet Private Wealth LLC lifted its holdings in shares of WK Kellogg by 1.0% during the 4th quarter. Inlet Private Wealth LLC now owns 324,040 shares of the company’s stock valued at $5,829,000 after buying an additional 3,200 shares during the period. 95.74% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

WK Kellogg Trading Down 2.0 %

Shares of KLG stock opened at $19.42 on Tuesday. WK Kellogg Co has a 52-week low of $14.37 and a 52-week high of $24.63. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.32 and a current ratio of 0.74. The firm has a market capitalization of $1.67 billion, a PE ratio of 23.98, a PEG ratio of 2.01 and a beta of 0.70. The stock has a fifty day simple moving average of $17.61 and a two-hundred day simple moving average of $17.95.

WK Kellogg (NYSE:KLG) last issued its quarterly 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%. On average, analysts predict that WK Kellogg Co will post 1.57 EPS for the current fiscal year.

WK Kellogg Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.40%. WK Kellogg’s dividend payout ratio (DPR) is presently 81.48%.

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.