Janney Montgomery Scott LLC Purchases 1,955 Shares of WK Kellogg Co (NYSE:KLG)

Janney Montgomery Scott LLC boosted its holdings in shares of WK Kellogg Co (NYSE:KLG) by 13.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 16,818 shares of the company’s stock after buying an additional 1,955 shares during the quarter. Janney Montgomery Scott LLC’s holdings in WK Kellogg were worth $303,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in KLG. Captrust Financial Advisors raised its stake in WK Kellogg by 12,352.1% during the 3rd quarter. Captrust Financial Advisors now owns 1,516,417 shares of the company’s stock worth $25,946,000 after buying an additional 1,504,239 shares during the period. Geode Capital Management LLC raised its position in shares of WK Kellogg by 2.7% during the third quarter. Geode Capital Management LLC now owns 1,507,713 shares of the company’s stock worth $25,802,000 after purchasing an additional 38,939 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in shares of WK Kellogg by 31.1% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,124,503 shares of the company’s stock valued at $19,240,000 after purchasing an additional 266,877 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of WK Kellogg by 7.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,112,558 shares of the company’s stock valued at $19,036,000 after purchasing an additional 79,808 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC increased its stake in WK Kellogg by 72.3% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 542,570 shares of the company’s stock worth $9,283,000 after purchasing an additional 227,730 shares in the last quarter. Institutional investors own 95.74% of the company’s stock.

Analysts Set New Price Targets

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

WK Kellogg Stock Up 3.5 %

KLG opened at $16.89 on Wednesday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.34 and a current ratio of 0.78. The stock has a fifty day moving average of $17.77 and a 200-day moving average of $17.70. WK Kellogg Co has a fifty-two week low of $12.34 and a fifty-two week high of $24.63. The company has a market capitalization of $1.45 billion, a P/E ratio of 21.65 and a beta of 0.70.

WK Kellogg (NYSE:KLG) last announced its earnings results on Tuesday, February 11th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.14. WK Kellogg had a net margin of 2.50% and a return on equity of 33.41%. On average, equities analysts expect that WK Kellogg Co will post 1.48 EPS for the current year.

WK Kellogg Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 3.91%. 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 payout ratio is 82.05%.

Insider Buying and Selling

In other WK Kellogg news, Director G Zachary Gund bought 65,000 shares of the stock in a transaction on Thursday, November 14th. The stock was purchased at an average price of $17.76 per share, with a total value of $1,154,400.00. Following the completion of the purchase, the director now owns 195,000 shares in the company, valued at $3,463,200. The trade was a 50.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 0.90% of the stock is currently owned by company insiders.

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.