Everence Capital Management Inc. Makes New Investment in WK Kellogg Co (NYSE:KLG)

Everence Capital Management Inc. bought a new position in shares of WK Kellogg Co (NYSE:KLG) during the fourth quarter, HoldingsChannel.com reports. The firm bought 13,630 shares of the company’s stock, valued at approximately $179,000.

Other institutional investors also recently bought and sold shares of the company. Toth Financial Advisory Corp purchased a new stake in shares of WK Kellogg in the fourth quarter valued at $26,000. Canal Insurance CO purchased a new stake in shares of WK Kellogg in the fourth quarter valued at $26,000. S.A. Mason LLC purchased a new stake in shares of WK Kellogg in the fourth quarter valued at $30,000. Fifth Third Bancorp purchased a new stake in shares of WK Kellogg in the fourth quarter valued at $32,000. Finally, Financiere des Professionnels Fonds d investissement inc. purchased a new stake in shares of WK Kellogg in the fourth quarter valued at $36,000. 95.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on KLG. Stifel Nicolaus upped their price objective on WK Kellogg from $11.00 to $13.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. Barclays upped their price objective on WK Kellogg from $12.00 to $15.00 and gave the company an “underweight” rating in a research report on Friday, April 12th. Two equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $12.75.

WK Kellogg Stock Down 2.5 %

NYSE KLG opened at $21.22 on Friday. The business’s 50-day moving average price is $17.22 and its 200 day moving average price is $13.73. WK Kellogg Co has a twelve month low of $9.65 and a twelve month high of $22.08. 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 released its 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 company had revenue of $651.00 million during the quarter, compared to analysts’ expectations of $645.87 million. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. 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 declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a dividend of $0.16 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.64 annualized dividend and a yield of 3.02%.

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.