Factorial Partners LLC Has $4.14 Million Holdings in WK Kellogg Co (NYSE:KLG)

Factorial Partners LLC trimmed its position in shares of WK Kellogg Co (NYSE:KLG) by 23.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 230,000 shares of the company’s stock after selling 70,000 shares during the period. WK Kellogg accounts for approximately 2.4% of Factorial Partners LLC’s investment portfolio, making the stock its 13th biggest position. Factorial Partners LLC owned approximately 0.27% of WK Kellogg worth $4,138,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in shares of WK Kellogg by 49.4% during the 4th quarter. GAMMA Investing LLC now owns 2,823 shares of the company’s stock worth $51,000 after purchasing an additional 933 shares during the last quarter. Spire Wealth Management bought a new stake in WK Kellogg in the fourth quarter valued at approximately $56,000. International Assets Investment Management LLC lifted its position in shares of WK Kellogg by 1,724.1% in the third quarter. International Assets Investment Management LLC now owns 4,688 shares of the company’s stock valued at $80,000 after buying an additional 4,431 shares during the last quarter. Transcendent Capital Group LLC boosted its stake in shares of WK Kellogg by 9,608.0% during the 4th quarter. Transcendent Capital Group LLC now owns 4,854 shares of the company’s stock worth $87,000 after acquiring an additional 4,804 shares during the period. Finally, Nisa Investment Advisors LLC increased its holdings in shares of WK Kellogg by 65.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 8,802 shares of the company’s stock worth $151,000 after acquiring an additional 3,471 shares during the last quarter. 95.74% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

KLG has been the subject of several research reports. Barclays cut their price target on WK Kellogg from $19.00 to $16.00 and set an “underweight” rating for the company in a report on Friday, January 17th. Jefferies Financial Group cut their target price on shares of WK Kellogg from $19.00 to $16.00 and set a “hold” rating for the company in a research note on Tuesday, January 28th. Stifel Nicolaus decreased their price target on shares of WK Kellogg from $19.00 to $18.00 and set a “hold” rating on the stock in a research note on Friday, January 24th. Finally, TD Cowen downgraded shares of WK Kellogg from a “hold” rating to a “sell” rating and cut their price objective for the stock from $18.00 to $16.00 in a research report on Wednesday, January 8th. Four investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat, WK Kellogg has an average rating of “Hold” and an average target price of $17.88.

WK Kellogg Stock Up 0.5 %

Shares of KLG opened at $19.86 on Friday. The stock has a market capitalization of $1.71 billion, a PE ratio of 24.51, a P/E/G ratio of 2.01 and a beta of 0.70. WK Kellogg Co has a 12 month low of $14.37 and a 12 month high of $24.63. The company has a current ratio of 0.74, a quick ratio of 0.32 and a debt-to-equity ratio of 1.45. The firm’s 50 day moving average is $17.57 and its 200-day moving average is $17.91.

WK Kellogg (NYSE:KLG) last released its earnings results on Tuesday, February 11th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.14. WK Kellogg had a return on equity of 39.81% and a net margin of 2.66%. Equities research analysts forecast that WK Kellogg Co will post 1.57 EPS for the current year.

WK Kellogg Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend is Friday, February 28th. This is an increase from WK Kellogg’s previous quarterly dividend of $0.16. WK Kellogg’s dividend payout ratio is 81.48%.

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.