Westhampton Capital LLC Buys 2,000 Shares of WK Kellogg Co (NYSE:KLG)

Westhampton Capital LLC raised its position in WK Kellogg Co (NYSE:KLG) by 2.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 83,494 shares of the company’s stock after purchasing an additional 2,000 shares during the period. Westhampton Capital LLC owned 0.10% of WK Kellogg worth $1,570,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kellogg W K Foundation Trust purchased a new position in shares of WK Kellogg in the 4th quarter worth about $177,458,000. Massachusetts Financial Services Co. MA bought a new position in shares of WK Kellogg during the 4th quarter valued at $18,412,000. Beutel Goodman & Co Ltd. bought a new stake in WK Kellogg in the fourth quarter valued at approximately $13,730,000. London & Capital Asset Management Ltd bought a new position in WK Kellogg during the 4th quarter valued at approximately $10,363,000. Finally, Private Management Group Inc. purchased a new position in shares of WK Kellogg in the 4th quarter valued at approximately $8,956,000. Institutional investors own 95.74% of the company’s stock.

Analyst Upgrades and Downgrades

KLG has been the subject of several recent analyst reports. BNP Paribas cut shares of WK Kellogg from a “neutral” rating to an “underperform” rating and set a $20.00 target price for the company. in a report on Wednesday, May 8th. TD Cowen boosted their price target on WK Kellogg from $13.00 to $24.00 and gave the stock a “hold” rating in a report on Wednesday, May 8th. Stifel Nicolaus boosted their target price on WK Kellogg from $20.00 to $22.00 and gave the stock a “hold” rating in a research report on Wednesday, May 8th. Barclays boosted their target price on shares of WK Kellogg from $15.00 to $19.00 and gave the stock an “underweight” rating in a report on Thursday, May 9th. Finally, Evercore ISI boosted 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 investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, WK Kellogg presently has a consensus rating of “Hold” and a consensus target price of $16.95.

WK Kellogg Price Performance

NYSE:KLG traded up $0.20 during midday trading on Tuesday, reaching $16.54. The company had a trading volume of 341,186 shares, compared to its average volume of 1,144,083. The stock’s fifty day simple moving average is $20.03 and its 200-day simple moving average is $17.05. WK Kellogg Co has a 12-month low of $9.65 and a 12-month high of $24.63. The company has a current ratio of 0.84, a quick ratio of 0.43 and a debt-to-equity ratio of 1.53.

WK Kellogg (NYSE:KLG) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.37 EPS for the quarter, hitting the consensus estimate of $0.37. The firm had revenue of $707.00 million for the quarter, compared to analyst estimates of $697.83 million. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. As a group, sell-side analysts expect that WK Kellogg Co will post 1.54 EPS for the current fiscal year.

WK Kellogg Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were issued a $0.16 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.64 dividend on an annualized basis and a yield of 3.87%.

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.