Versor Investments LP Acquires Shares of 11,100 WK Kellogg Co (NYSE:KLG)

Versor Investments LP acquired a new stake in shares of WK Kellogg Co (NYSE:KLG) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 11,100 shares of the company’s stock, valued at approximately $200,000.

Several other large investors have also recently made changes to their positions in the company. Captrust Financial Advisors grew its holdings in WK Kellogg by 12,352.1% during 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. Geode Capital Management LLC boosted its position in shares of WK Kellogg by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,507,713 shares of the company’s stock valued at $25,802,000 after acquiring an additional 38,939 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of WK Kellogg by 31.1% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,124,503 shares of the company’s stock valued at $19,240,000 after purchasing an additional 266,877 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in WK Kellogg by 7.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,112,558 shares of the company’s stock worth $19,036,000 after purchasing an additional 79,808 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in WK Kellogg by 24.3% during the fourth quarter. Bank of New York Mellon Corp now owns 1,056,802 shares of the company’s stock valued at $19,012,000 after purchasing an additional 206,320 shares in the last quarter. 95.74% of the stock is owned by institutional investors.

WK Kellogg Stock Down 2.1 %

Shares of KLG opened at $18.98 on Wednesday. The firm has a fifty day moving average price of $17.62 and a 200-day moving average price of $17.97. The company has a current ratio of 0.74, a quick ratio of 0.32 and a debt-to-equity ratio of 1.45. The firm has a market capitalization of $1.64 billion, a P/E ratio of 23.44, a P/E/G ratio of 2.01 and a beta of 0.70. WK Kellogg Co has a 12-month low of $14.37 and a 12-month high of $24.63.

WK Kellogg (NYSE:KLG) last released its quarterly earnings data on Tuesday, February 11th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.14. WK Kellogg had a net margin of 2.66% and a return on equity of 39.81%. Equities research analysts expect that WK Kellogg Co will post 1.57 earnings per share for the current year.

WK Kellogg Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a $0.165 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.66 annualized dividend and a yield of 3.48%. This is a boost from WK Kellogg’s previous quarterly dividend of $0.16. WK Kellogg’s dividend payout ratio is 81.48%.

Wall Street Analysts Forecast Growth

KLG has been the subject of a number of recent research reports. Barclays dropped their price objective on shares of WK Kellogg from $19.00 to $16.00 and set an “underweight” rating for the company in a research note on Friday, January 17th. Stifel Nicolaus reduced their price objective on WK Kellogg from $19.00 to $18.00 and set a “hold” rating on the stock in a research note on Friday, January 24th. Jefferies Financial Group lowered their price objective on WK Kellogg from $19.00 to $16.00 and set a “hold” rating for the company in a research note on Tuesday, January 28th. Finally, TD Cowen downgraded WK Kellogg from a “hold” rating to a “sell” rating and cut their target price for the company from $18.00 to $16.00 in a research report on Wednesday, January 8th. Four investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $17.88.

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.