81,225 Shares in WK Kellogg Co (NYSE:KLG) Acquired by Retirement Systems of Alabama

Retirement Systems of Alabama acquired a new position in WK Kellogg Co (NYSE:KLG) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 81,225 shares of the company’s stock, valued at approximately $1,067,000. Retirement Systems of Alabama owned about 0.09% of WK Kellogg at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of KLG. London & Capital Asset Management Ltd acquired a new stake in WK Kellogg during the 4th quarter worth $10,363,000. Private Management Group Inc. acquired a new stake in WK Kellogg during the 4th quarter worth $8,956,000. Inlet Private Wealth LLC acquired a new stake in WK Kellogg during the 4th quarter worth $4,038,000. Russell Investments Group Ltd. acquired a new stake in WK Kellogg during the 4th quarter worth $3,282,000. Finally, Salem Investment Counselors Inc. acquired a new stake in WK Kellogg during the 4th quarter worth $2,319,000. Institutional investors and hedge funds own 95.74% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on KLG. Barclays lifted their target price on shares of WK Kellogg from $12.00 to $15.00 and gave the stock an “underweight” rating in a report on Friday, April 12th. Evercore ISI boosted their price target on shares of WK Kellogg from $21.00 to $23.00 and gave the company an “in-line” rating in a report on Wednesday. TD Cowen boosted their price target on shares of WK Kellogg from $13.00 to $24.00 and gave the company a “hold” rating in a report on Wednesday. Stifel Nicolaus boosted their price target on shares of WK Kellogg from $20.00 to $22.00 and gave the company a “hold” rating in a report on Wednesday. Finally, BNP Paribas lowered shares of WK Kellogg from a “neutral” rating to an “underperform” rating and set a $20.00 price target for the company. in a report on Wednesday. Three analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to MarketBeat.com, WK Kellogg presently has an average rating of “Hold” and an average price target of $16.55.

WK Kellogg Stock Performance

Shares of KLG opened at $21.95 on Thursday. WK Kellogg Co has a 52 week low of $9.65 and a 52 week high of $24.63. The firm’s 50-day simple moving average is $19.56 and its 200 day simple moving average is $14.94. The company has a current ratio of 0.84, a quick ratio of 0.43 and a debt-to-equity ratio of 1.62.

WK Kellogg (NYSE:KLG) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.37 EPS for the quarter, meeting analysts’ consensus estimates of $0.37. The company had revenue of $707.00 million during the quarter, compared to analyst estimates of $697.83 million. The company’s quarterly revenue was down .7% on a year-over-year basis. Sell-side analysts forecast that WK Kellogg Co will post 1.51 EPS for the current fiscal year.

WK Kellogg Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be paid a $0.16 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.64 dividend on an annualized basis and a yield of 2.92%.

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.