22,198 Shares in WK Kellogg Co (NYSE:KLG) Bought by NewSquare Capital LLC

NewSquare Capital LLC acquired a new stake in WK Kellogg Co (NYSE:KLG) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 22,198 shares of the company’s stock, valued at approximately $292,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. London & Capital Asset Management Ltd bought a new position in WK Kellogg during the fourth quarter valued at about $10,363,000. Inlet Private Wealth LLC bought a new position in WK Kellogg in the 4th quarter worth about $4,038,000. Salem Investment Counselors Inc. purchased a new stake in WK Kellogg in the fourth quarter valued at approximately $2,319,000. Nordea Investment Management AB purchased a new position in WK Kellogg in the 4th quarter worth approximately $2,119,000. Finally, Oak Thistle LLC bought a new stake in shares of WK Kellogg during the 4th quarter worth $1,721,000. 95.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on KLG. Barclays increased their price objective on WK Kellogg from $12.00 to $15.00 and gave the company an “underweight” rating in a research report on Friday, April 12th. Stifel Nicolaus upped their price target on shares of WK Kellogg from $11.00 to $13.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. Two research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat.com, WK Kellogg currently has a consensus rating of “Hold” and an average target price of $12.75.

WK Kellogg Price Performance

KLG traded up $0.67 during midday trading on Wednesday, reaching $24.47. 852,675 shares of the company’s stock traded hands, compared to its average volume of 1,131,273. WK Kellogg Co has a 52 week low of $9.65 and a 52 week high of $24.63. The company has a current ratio of 0.84, a quick ratio of 0.43 and a debt-to-equity ratio of 1.62. The firm has a fifty day moving average of $17.62 and a two-hundred day moving average of $13.94.

WK Kellogg (NYSE:KLG) last announced its earnings results on Tuesday, February 13th. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.03). The company had revenue of $651.00 million during the quarter, compared to the consensus estimate of $645.87 million. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. On average, equities analysts anticipate that WK Kellogg Co will post 1.51 earnings per share for the current fiscal year.

WK Kellogg Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date was Thursday, February 29th.

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.