Kornitzer Capital Management Inc. KS Takes Position in WK Kellogg Co (NYSE:KLG)

Kornitzer Capital Management Inc. KS bought a new stake in WK Kellogg Co (NYSE:KLG) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 50,985 shares of the company’s stock, valued at approximately $670,000. Kornitzer Capital Management Inc. KS owned 0.06% of WK Kellogg at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in KLG. London & Capital Asset Management Ltd acquired a new position in shares of WK Kellogg in the 4th quarter valued at about $10,363,000. Inlet Private Wealth LLC acquired a new position in shares of WK Kellogg in the 4th quarter valued at about $4,038,000. Salem Investment Counselors Inc. acquired a new position in shares of WK Kellogg in the 4th quarter valued at about $2,319,000. Nordea Investment Management AB acquired a new position in shares of WK Kellogg in the 4th quarter valued at about $2,119,000. Finally, Oak Thistle LLC acquired a new position in shares of WK Kellogg in the 4th quarter valued at about $1,721,000. Institutional investors and hedge funds own 95.74% of the company’s stock.

WK Kellogg Stock Performance

Shares of WK Kellogg stock opened at $21.22 on Monday. The company has a quick ratio of 0.43, a current ratio of 0.84 and a debt-to-equity ratio of 1.62. The stock has a 50 day moving average price of $17.22 and a two-hundred day moving average price of $13.76. WK Kellogg Co has a 12-month low of $9.65 and a 12-month high of $22.08.

WK Kellogg (NYSE:KLG) last posted its quarterly earnings data 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 firm had revenue of $651.00 million during the quarter, compared to the consensus estimate of $645.87 million. WK Kellogg’s revenue was down 2.7% compared to the same quarter last year. As a group, equities analysts predict that WK Kellogg Co will post 1.51 EPS for the current year.

WK Kellogg Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a $0.16 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.64 annualized dividend and a dividend yield of 3.02%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Barclays boosted their price target 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 boosted their price target on WK Kellogg from $11.00 to $13.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. Two equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $12.75.

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.