Massachusetts Financial Services Co. MA Makes New $18.41 Million Investment in WK Kellogg Co (NYSE:KLG)

Massachusetts Financial Services Co. MA purchased a new stake in WK Kellogg Co (NYSE:KLGFree Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,401,250 shares of the company’s stock, valued at approximately $18,412,000. Massachusetts Financial Services Co. MA owned 1.64% of WK Kellogg as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Mitsubishi UFJ Trust & Banking Corp bought a new position in WK Kellogg in the 3rd quarter worth $1,657,000. Diversified Trust Co acquired a new stake in shares of WK Kellogg in the fourth quarter valued at about $147,000. Daymark Wealth Partners LLC bought a new position in shares of WK Kellogg in the fourth quarter worth about $976,000. Nordea Investment Management AB acquired a new position in shares of WK Kellogg during the 4th quarter worth about $2,119,000. Finally, North Star Investment Management Corp. bought a new stake in WK Kellogg during the 4th quarter valued at approximately $470,000. 95.74% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

KLG has been the topic of several recent analyst reports. Barclays lifted their price target on WK Kellogg from $15.00 to $19.00 and gave the stock an “underweight” rating in a research report on Thursday, May 9th. Stifel Nicolaus boosted their target price on shares of WK Kellogg from $20.00 to $22.00 and gave the stock a “hold” rating in a research report on Wednesday, May 8th. BNP Paribas downgraded 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, May 8th. TD Cowen boosted their price objective on shares of WK Kellogg from $13.00 to $24.00 and gave the stock a “hold” rating in a report on Wednesday, May 8th. Finally, Evercore ISI upped their price objective on shares of WK Kellogg from $21.00 to $23.00 and gave the company an “in-line” rating in a research report on Wednesday, May 8th. Three equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $16.95.

Read Our Latest Report on WK Kellogg

WK Kellogg Trading Down 2.1 %

NYSE KLG opened at $20.95 on Friday. WK Kellogg Co has a twelve month low of $9.65 and a twelve month high of $24.63. The company’s 50-day simple moving average is $20.52 and its 200 day simple moving average is $15.45. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.84 and a quick ratio of 0.43.

WK Kellogg (NYSE:KLGGet Free Report) last posted its earnings results on Tuesday, May 7th. The company reported $0.37 earnings per share for the quarter, hitting the consensus estimate of $0.37. The firm had revenue of $707.00 million during the quarter, compared to the consensus estimate of $697.83 million. The firm’s revenue for the quarter was down .7% on a year-over-year basis. As a group, analysts predict that WK Kellogg Co will post 1.55 earnings per share for the current fiscal year.

WK Kellogg Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be paid a $0.16 dividend. 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 3.05%.

WK Kellogg Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding KLG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WK Kellogg Co (NYSE:KLGFree Report).

Institutional Ownership by Quarter for WK Kellogg (NYSE:KLG)

Receive News & Ratings for WK Kellogg Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WK Kellogg and related companies with MarketBeat.com's FREE daily email newsletter.