Private Management Group Inc. Invests $8.96 Million in WK Kellogg Co (NYSE:KLG)

Private Management Group Inc. bought a new position in WK Kellogg Co (NYSE:KLG) in the 4th quarter, according to its most recent disclosure with the SEC. The firm bought 681,615 shares of the company’s stock, valued at approximately $8,956,000. Private Management Group Inc. owned 0.80% of WK Kellogg at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Eukles Asset Management purchased a new position in WK Kellogg during the 4th quarter valued at about $25,000. Toth Financial Advisory Corp bought a new stake in shares of WK Kellogg in the fourth quarter worth approximately $26,000. Canal Insurance CO bought a new stake in shares of WK Kellogg in the fourth quarter worth approximately $26,000. S.A. Mason LLC bought a new stake in shares of WK Kellogg in the fourth quarter worth approximately $30,000. Finally, Fifth Third Bancorp bought a new stake in shares of WK Kellogg in the fourth quarter worth approximately $32,000. 95.74% of the stock is owned by hedge funds and other institutional investors.

WK Kellogg Trading Up 1.4 %

NYSE:KLG traded up $0.33 during trading hours on Wednesday, hitting $24.13. 1,237,269 shares of the stock traded hands, compared to its average volume of 1,133,247. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.84 and a quick ratio of 0.43. WK Kellogg Co has a 1 year low of $9.65 and a 1 year high of $24.63. The stock has a 50 day moving average price of $17.62 and a 200 day moving average price of $13.94.

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

WK Kellogg Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.65%. The ex-dividend date was Thursday, February 29th.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on KLG. Stifel Nicolaus lifted their price target on shares of WK Kellogg from $11.00 to $13.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. Barclays boosted their target price on shares of WK Kellogg from $12.00 to $15.00 and gave the company an “underweight” rating in a research report on Friday, April 12th. Two research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $12.75.

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.