Rodgers Brothers Inc. Increases Holdings in WK Kellogg Co (NYSE:KLG)

Rodgers Brothers Inc. raised its position in shares of WK Kellogg Co (NYSE:KLG) by 0.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 730,150 shares of the company’s stock after purchasing an additional 2,215 shares during the period. WK Kellogg comprises 1.7% of Rodgers Brothers Inc.’s portfolio, making the stock its 11th biggest position. Rodgers Brothers Inc. owned 0.85% of WK Kellogg worth $13,135,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its holdings in shares of WK Kellogg by 7.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,112,558 shares of the company’s stock valued at $19,036,000 after acquiring an additional 79,808 shares in the last quarter. MetLife Investment Management LLC raised its holdings in shares of WK Kellogg by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 38,262 shares of the company’s stock valued at $655,000 after purchasing an additional 21,559 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of WK Kellogg by 6.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 305,058 shares of the company’s stock worth $5,220,000 after purchasing an additional 18,016 shares during the period. Verition Fund Management LLC boosted its stake in shares of WK Kellogg by 563.8% during the third quarter. Verition Fund Management LLC now owns 333,321 shares of the company’s stock valued at $5,703,000 after purchasing an additional 283,104 shares in the last quarter. Finally, PDT Partners LLC increased its holdings in WK Kellogg by 65.5% during the third quarter. PDT Partners LLC now owns 135,396 shares of the company’s stock valued at $2,317,000 after buying an additional 53,603 shares during the period. 95.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on KLG shares. Stifel Nicolaus dropped their target price 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 cut their target price on WK Kellogg from $19.00 to $16.00 and set an “underweight” rating on the stock in a research note on Friday, January 17th. Morgan Stanley initiated coverage on shares of WK Kellogg in a research report on Monday, March 24th. They set an “underweight” rating and a $18.00 price target for the company. 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. Finally, TD Cowen cut shares of WK Kellogg from a “hold” rating to a “sell” rating and decreased their target price for the company from $18.00 to $16.00 in a research report on Wednesday, January 8th. Five equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to data from MarketBeat.com, WK Kellogg presently has an average rating of “Reduce” and a consensus price target of $17.89.

WK Kellogg Trading Down 0.5 %

Shares of NYSE:KLG opened at $19.53 on Monday. The business has a 50-day moving average price of $18.56 and a 200-day moving average price of $18.22. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of 24.10, a PEG ratio of 2.01 and a beta of 0.30. WK Kellogg Co has a 52-week low of $15.17 and a 52-week high of $24.63. The company has a quick ratio of 0.32, a current ratio of 0.74 and a debt-to-equity ratio of 1.45.

WK Kellogg (NYSE:KLG) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.28 by $0.14. WK Kellogg had a net margin of 2.66% and a return on equity of 39.81%. Equities analysts predict that WK Kellogg Co will post 1.57 EPS for the current year.

WK Kellogg Increases Dividend

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

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.