California Public Employees Retirement System Invests $1.54 Million in WK Kellogg Co (NYSE:KLG)

California Public Employees Retirement System bought a new position in shares of WK Kellogg Co (NYSE:KLG) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 117,454 shares of the company’s stock, valued at approximately $1,543,000. California Public Employees Retirement System owned approximately 0.14% of WK Kellogg as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in KLG. London & Capital Asset Management Ltd purchased a new position in WK Kellogg in the fourth quarter valued at approximately $10,363,000. Inlet Private Wealth LLC acquired a new stake in WK Kellogg during the 4th quarter worth $4,038,000. Salem Investment Counselors Inc. acquired a new stake in WK Kellogg during the 4th quarter worth $2,319,000. Nordea Investment Management AB purchased a new stake in WK Kellogg in the fourth quarter valued at $2,119,000. Finally, Oak Thistle LLC acquired a new position in WK Kellogg in the fourth quarter valued at $1,721,000. Hedge funds and other institutional investors own 95.74% of the company’s stock.

Wall Street Analysts Forecast Growth

KLG has been the topic of a number of research analyst reports. Stifel Nicolaus lifted their target price on WK Kellogg from $13.00 to $20.00 and gave the stock a “hold” rating in a research report on Friday, April 26th. Barclays lifted 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. Two analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $13.45.

WK Kellogg Stock Down 2.4 %

WK Kellogg stock opened at $23.20 on Monday. The company has a quick ratio of 0.43, a current ratio of 0.84 and a debt-to-equity ratio of 1.62. The stock has a 50 day moving average of $19.05 and a two-hundred day moving average of $14.69. WK Kellogg Co has a twelve month low of $9.65 and a twelve month high of $24.63.

WK Kellogg (NYSE:KLG) last issued its quarterly 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. WK Kellogg’s quarterly revenue was down 2.7% compared to the same quarter last year. As a group, research analysts expect that WK Kellogg Co will post 1.51 EPS for the current fiscal year.

WK Kellogg Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.76%.

WK Kellogg 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.