Newbridge Financial Services Group Inc. Takes Position in WK Kellogg Co (NYSE:KLG)

Newbridge Financial Services Group Inc. purchased a new stake in shares of WK Kellogg Co (NYSE:KLG) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 5,484 shares of the company’s stock, valued at approximately $103,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of KLG. Westhampton Capital LLC increased its stake in shares of WK Kellogg by 2.5% in the 1st quarter. Westhampton Capital LLC now owns 83,494 shares of the company’s stock worth $1,570,000 after purchasing an additional 2,000 shares in the last quarter. Alpha Omega Wealth Management LLC increased its stake in WK Kellogg by 15.2% in the 1st quarter. Alpha Omega Wealth Management LLC now owns 13,080 shares of the company’s stock worth $246,000 after buying an additional 1,725 shares in the last quarter. Counterpoint Mutual Funds LLC purchased a new stake in WK Kellogg in the 1st quarter worth $274,000. Alaska Permanent Fund Corp increased its stake in WK Kellogg by 120.8% in the 1st quarter. Alaska Permanent Fund Corp now owns 128,361 shares of the company’s stock worth $2,413,000 after buying an additional 70,229 shares in the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new stake in WK Kellogg in the 4th quarter worth $39,000. 95.74% of the stock is owned by institutional investors.

WK Kellogg Stock Down 1.9 %

Shares of NYSE:KLG traded down $0.39 during trading on Wednesday, reaching $20.08. The company’s stock had a trading volume of 838,431 shares, compared to its average volume of 1,125,788. The company has a quick ratio of 0.43, a current ratio of 0.84 and a debt-to-equity ratio of 1.53. WK Kellogg Co has a 12 month low of $9.65 and a 12 month high of $24.63. The firm’s 50 day simple moving average is $20.83 and its two-hundred day simple moving average is $15.70.

WK Kellogg (NYSE:KLG) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.37 EPS for the quarter, meeting analysts’ consensus estimates of $0.37. The business 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. Sell-side analysts expect that WK Kellogg Co will post 1.55 earnings per share for the current fiscal year.

WK Kellogg Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date of this dividend is Friday, May 31st.

Analyst Ratings Changes

KLG has been the subject of a number of analyst reports. Stifel Nicolaus increased their price target on WK Kellogg from $20.00 to $22.00 and gave the stock a “hold” rating in a research note on Wednesday, May 8th. TD Cowen increased their price target on WK Kellogg from $13.00 to $24.00 and gave the stock a “hold” rating in a research note on Wednesday, May 8th. Evercore ISI increased their price target on WK Kellogg from $21.00 to $23.00 and gave the stock an “in-line” rating in a research note on Wednesday, May 8th. Barclays increased their price target on WK Kellogg from $15.00 to $19.00 and gave the stock an “underweight” rating in a research note on Thursday, May 9th. Finally, BNP Paribas downgraded shares of WK Kellogg from a “neutral” rating to an “underperform” rating and set a $20.00 price objective for the company. in a report on Wednesday, May 8th. Three analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $16.95.

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.