DekaBank Deutsche Girozentrale acquired a new stake in WK Kellogg Co (NYSE:KLG – Free Report) in the fourth quarter, Holdings Channel.com reports. The fund acquired 12,625 shares of the company’s stock, valued at approximately $163,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Salem Investment Counselors Inc. purchased a new stake in WK Kellogg during the fourth quarter worth about $2,319,000. Nordea Investment Management AB acquired a new position in shares of WK Kellogg in the fourth quarter valued at approximately $2,119,000. Oak Thistle LLC acquired a new position in shares of WK Kellogg in the fourth quarter valued at approximately $1,721,000. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in WK Kellogg during the 3rd quarter worth approximately $1,657,000. Finally, Westhampton Capital LLC purchased a new position in WK Kellogg in the 4th quarter valued at approximately $1,071,000. Hedge funds and other institutional investors own 95.74% of the company’s stock.
WK Kellogg Stock Up 0.7 %
WK Kellogg stock opened at $21.11 on Wednesday. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.43 and a current ratio of 0.84. The stock’s fifty day moving average is $16.68 and its two-hundred day moving average is $13.56. WK Kellogg Co has a 1-year low of $9.65 and a 1-year high of $22.08.
WK Kellogg Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.16 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.64 annualized dividend and a dividend yield of 3.03%.
Analysts Set New Price Targets
KLG has been the topic of several analyst reports. Barclays increased their price objective on WK Kellogg from $12.00 to $15.00 and gave the company an “underweight” rating in a research note on Friday, April 12th. Stifel Nicolaus increased their price target on WK Kellogg from $11.00 to $13.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. Two investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $12.75.
Read Our Latest Research Report on WK Kellogg
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.
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