Alaska Permanent Fund Corp Invests $764,000 in WK Kellogg Co (NYSE:KLG)

Alaska Permanent Fund Corp bought a new position in shares of WK Kellogg Co (NYSE:KLG) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 58,132 shares of the company’s stock, valued at approximately $764,000. Alaska Permanent Fund Corp owned 0.07% of WK Kellogg as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

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

WK Kellogg Stock Up 0.9 %

Shares of KLG opened at $24.34 on Friday. WK Kellogg Co has a 1 year low of $9.65 and a 1 year high of $24.63. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.84 and a quick ratio of 0.43. The stock has a 50 day simple moving average of $18.00 and a 200-day simple moving average of $14.08.

WK Kellogg (NYSE:KLG) last released its quarterly 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 analyst estimates of $645.87 million. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year. As a group, equities research analysts expect that WK Kellogg Co will post 1.51 earnings per share for the current fiscal year.

WK Kellogg Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $0.16 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.64 dividend on an annualized basis and a yield of 2.63%.

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.