Gamco Investors INC. ET AL Raises Stake in WK Kellogg Co (NYSE:KLG)

Gamco Investors INC. ET AL boosted its stake in WK Kellogg Co (NYSE:KLG) by 5.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 470,064 shares of the company’s stock after purchasing an additional 25,220 shares during the quarter. Gamco Investors INC. ET AL owned approximately 0.55% of WK Kellogg worth $8,837,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analysts Forecast Growth

KLG has been the subject of several recent analyst reports. Evercore ISI boosted their target price on WK Kellogg from $21.00 to $23.00 and gave the stock an “in-line” rating in a research report on Wednesday, May 8th. Barclays cut their price objective on WK Kellogg from $19.00 to $16.00 and set an “underweight” rating for the company in a report on Friday, July 19th. Bank of America downgraded shares of WK Kellogg from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $24.00 to $17.00 in a research note on Wednesday, July 10th. Stifel Nicolaus cut their price target on shares of WK Kellogg from $22.00 to $18.00 and set a “hold” rating for the company in a research note on Tuesday, July 23rd. Finally, BNP Paribas lowered shares of WK Kellogg from a “neutral” rating to an “underperform” rating and set a $20.00 price target on the stock. in a report on Wednesday, May 8th. Four equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $16.80.

WK Kellogg Trading Down 0.9 %

Shares of KLG stock traded down $0.16 on Friday, hitting $17.33. 986,934 shares of the company’s stock traded hands, compared to its average volume of 1,378,501. The stock has a market capitalization of $1.49 billion and a price-to-earnings ratio of 10.70. The company’s fifty day simple moving average is $17.59 and its 200 day simple moving average is $17.46. WK Kellogg Co has a one year low of $9.65 and a one year high of $24.63. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.43 and a current ratio of 0.84.

WK Kellogg (NYSE:KLG) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.37 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.37. The company had revenue of $707.00 million for the quarter, compared to the consensus estimate of $697.83 million. The firm’s quarterly revenue was down .7% compared to the same quarter last year. Equities analysts forecast that WK Kellogg Co will post 1.54 EPS for the current year.

WK Kellogg Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were paid a $0.16 dividend. The ex-dividend date was Friday, May 31st. This represents a $0.64 dividend on an annualized basis and a yield of 3.69%. WK Kellogg’s dividend payout ratio (DPR) is currently 39.51%.

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.