International Assets Investment Management LLC Makes New Investment in WK Kellogg Co (NYSE:KLG)

International Assets Investment Management LLC acquired a new stake in shares of WK Kellogg Co (NYSE:KLG) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 3,377 shares of the company’s stock, valued at approximately $44,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Canal Insurance CO acquired a new position in shares of WK Kellogg in the fourth quarter valued at approximately $26,000. S.A. Mason LLC bought a new position in WK Kellogg during the 4th quarter worth about $30,000. Fifth Third Bancorp acquired a new stake in shares of WK Kellogg in the 4th quarter valued at about $32,000. Financiere des Professionnels Fonds d investissement inc. bought a new stake in shares of WK Kellogg in the fourth quarter valued at about $36,000. Finally, Chilton Capital Management LLC bought a new position in shares of WK Kellogg during the fourth quarter worth about $63,000. 95.74% of the stock is currently owned by institutional investors and hedge funds.

WK Kellogg Stock Up 2.0 %

KLG stock opened at $23.80 on Thursday. The company has a fifty day moving average price of $18.69 and a two-hundred day moving average price of $14.47. WK Kellogg Co has a one year low of $9.65 and a one year high of $24.63. The company has a quick ratio of 0.43, a current ratio of 0.84 and a debt-to-equity ratio of 1.62.

WK Kellogg (NYSE:KLG) last announced 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 for the quarter, compared to analyst estimates of $645.87 million. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. Equities analysts anticipate that WK Kellogg Co will post 1.51 earnings per share for the current 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 issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date was Thursday, February 29th.

Wall Street Analyst Weigh In

KLG has been the subject of a number of recent research reports. Barclays upped their price target on WK Kellogg from $12.00 to $15.00 and gave the stock an “underweight” rating in a research report on Friday, April 12th. Stifel Nicolaus raised their target price on shares of WK Kellogg from $13.00 to $20.00 and gave the company a “hold” rating in a research report on Friday, April 26th. Two analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $13.45.

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.