Voya Investment Management LLC Sells 1,625 Shares of WK Kellogg Co (NYSE:KLG)

Voya Investment Management LLC decreased its holdings in shares of WK Kellogg Co (NYSE:KLG) by 7.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 19,833 shares of the company’s stock after selling 1,625 shares during the quarter. Voya Investment Management LLC’s holdings in WK Kellogg were worth $357,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of KLG. Halbert Hargrove Global Advisors LLC bought a new stake in WK Kellogg during the 4th quarter valued at about $25,000. SBI Securities Co. Ltd. bought a new stake in WK Kellogg during the 4th quarter valued at about $36,000. Wealthfront Advisers LLC bought a new stake in WK Kellogg during the 4th quarter valued at about $44,000. GAMMA Investing LLC lifted its holdings in WK Kellogg by 49.4% during the 4th quarter. GAMMA Investing LLC now owns 2,823 shares of the company’s stock valued at $51,000 after buying an additional 933 shares in the last quarter. Finally, Spire Wealth Management bought a new stake in WK Kellogg during the 4th quarter valued at about $56,000. Institutional investors own 95.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on KLG. Jefferies Financial Group dropped their price target on WK Kellogg from $19.00 to $16.00 and set a “hold” rating on the stock in a research report on Tuesday, January 28th. Stifel Nicolaus dropped their price target 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. Barclays dropped their price target on WK Kellogg from $19.00 to $16.00 and set an “underweight” rating on the stock 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. Four equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $16.86.

WK Kellogg Stock Down 0.6%

NYSE:KLG opened at $17.02 on Monday. WK Kellogg Co has a fifty-two week low of $14.80 and a fifty-two week high of $22.21. The stock has a market capitalization of $1.47 billion, a P/E ratio of 21.01, a P/E/G ratio of 2.01 and a beta of 0.54. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.32 and a current ratio of 0.74. The company’s 50-day simple moving average is $18.95 and its 200-day simple moving average is $18.44.

WK Kellogg (NYSE:KLG) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.21). WK Kellogg had a net margin of 2.66% and a return on equity of 39.81%. The firm had revenue of $667.00 million during the quarter, compared to the consensus estimate of $677.91 million. During the same quarter in the prior year, the business posted $0.37 earnings per share. The firm’s quarterly revenue was down 6.2% on a year-over-year basis. On average, equities analysts anticipate that WK Kellogg Co will post 1.57 earnings per share for the current fiscal year.

WK Kellogg Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date of this dividend is Friday, May 30th. WK Kellogg’s dividend payout ratio is currently 103.13%.

About WK Kellogg

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.