Capital International Investors Has $75.32 Million Position in WK Kellogg Co (NYSE:KLG)

Capital International Investors lifted its stake in shares of WK Kellogg Co (NYSE:KLG) by 149.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 4,186,763 shares of the company’s stock after buying an additional 2,510,779 shares during the quarter. Capital International Investors’ holdings in WK Kellogg were worth $75,320,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Truist Financial Corp raised its holdings in WK Kellogg by 2.2% in the 4th quarter. Truist Financial Corp now owns 39,658 shares of the company’s stock valued at $713,000 after acquiring an additional 838 shares during the period. GAMMA Investing LLC grew its position in shares of WK Kellogg by 49.4% in the fourth quarter. GAMMA Investing LLC now owns 2,823 shares of the company’s stock valued at $51,000 after purchasing an additional 933 shares during the last quarter. Halbert Hargrove Global Advisors LLC bought a new position in shares of WK Kellogg during the fourth quarter worth approximately $25,000. Jones Financial Companies Lllp lifted its holdings in WK Kellogg by 26.9% during the 4th quarter. Jones Financial Companies Lllp now owns 7,813 shares of the company’s stock worth $141,000 after purchasing an additional 1,657 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in WK Kellogg by 13.2% in the 4th quarter. Janney Montgomery Scott LLC now owns 16,818 shares of the company’s stock valued at $303,000 after purchasing an additional 1,955 shares during the period. Institutional investors own 95.74% of the company’s stock.

WK Kellogg Stock Performance

Shares of NYSE:KLG opened at $19.52 on Friday. WK Kellogg Co has a 1 year low of $15.17 and a 1 year high of $24.63. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of 24.09, a price-to-earnings-growth ratio of 2.01 and a beta of 0.39. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.74 and a quick ratio of 0.32. The company’s 50 day simple moving average is $19.44 and its 200 day simple moving average is $18.38.

WK Kellogg (NYSE:KLG) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.14. WK Kellogg had a return on equity of 39.81% and a net margin of 2.66%. As a group, research analysts predict that WK Kellogg Co will post 1.57 EPS for the current fiscal year.

WK Kellogg Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a dividend of $0.165 per share. The ex-dividend date of this dividend was Friday, February 28th. This is a positive change from WK Kellogg’s previous quarterly dividend of $0.16. This represents a $0.66 annualized dividend and a dividend yield of 3.38%. WK Kellogg’s payout ratio is 81.48%.

Analyst Upgrades and Downgrades

KLG has been the topic of several recent research reports. Stifel Nicolaus lowered their price objective on WK Kellogg from $19.00 to $18.00 and set a “hold” rating on the stock in a research report on Friday, January 24th. TD Cowen cut shares of WK Kellogg from a “hold” rating to a “sell” rating and dropped their price objective for the stock from $18.00 to $16.00 in a research note on Wednesday, January 8th. Jefferies Financial Group decreased their target price on shares of WK Kellogg from $19.00 to $16.00 and set a “hold” rating on the stock in a research report on Tuesday, January 28th. Barclays dropped their price target on shares of WK Kellogg from $19.00 to $16.00 and set an “underweight” rating for the company in a research report on Friday, January 17th. Finally, Morgan Stanley started coverage on WK Kellogg in a research report on Monday, March 24th. They set an “underweight” rating and a $18.00 price target on the stock. Five analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $17.89.

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.