Sumitomo Mitsui Trust Holdings Inc. Invests $257,000 in WK Kellogg Co (NYSE:KLG)

Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in WK Kellogg Co (NYSE:KLG) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 19,539 shares of the company’s stock, valued at approximately $257,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Toth Financial Advisory Corp acquired a new stake in WK Kellogg in the fourth quarter valued at about $26,000. Canal Insurance CO acquired a new stake in WK Kellogg in the fourth quarter valued at about $26,000. S.A. Mason LLC acquired a new stake in WK Kellogg in the fourth quarter valued at about $30,000. Fifth Third Bancorp acquired a new stake in WK Kellogg in the fourth quarter valued at about $32,000. Finally, Financiere des Professionnels Fonds d investissement inc. acquired a new stake in WK Kellogg in the fourth quarter valued at about $36,000. Institutional investors and hedge funds own 95.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on KLG shares. Stifel Nicolaus raised their price objective on shares of WK Kellogg from $13.00 to $20.00 and gave the company a “hold” rating in a research report on Friday. Barclays lifted their price target on shares of WK Kellogg from $12.00 to $15.00 and gave the company an “underweight” rating in a research report on Friday, April 12th. Two analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, WK Kellogg has an average rating of “Hold” and a consensus target price of $13.45.

WK Kellogg Stock Down 1.6 %

Shares of KLG opened at $23.94 on Friday. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.84 and a quick ratio of 0.43. The firm has a 50 day simple moving average of $18.17 and a 200-day simple moving average of $14.17. WK Kellogg Co has a 1-year low of $9.65 and a 1-year high of $24.63.

WK Kellogg (NYSE:KLG) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.03). The firm had revenue of $651.00 million for the quarter, compared to analyst estimates of $645.87 million. WK Kellogg’s revenue was down 2.7% compared to the same quarter last year. Analysts anticipate that WK Kellogg Co will post 1.51 earnings per share for the current year.

WK Kellogg Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a $0.16 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.64 annualized dividend and a yield of 2.67%.

WK Kellogg 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.