California Public Employees Retirement System Acquires New Position in WK Kellogg Co (NYSE:KLG)

California Public Employees Retirement System acquired a new position in shares of WK Kellogg Co (NYSE:KLG) during the 4th quarter, HoldingsChannel reports. The firm acquired 117,454 shares of the company’s stock, valued at approximately $1,543,000.

Other large investors have also recently bought and sold shares of the company. Eukles Asset Management acquired a new stake in shares of WK Kellogg during the 4th quarter worth approximately $25,000. Toth Financial Advisory Corp acquired a new stake in WK Kellogg in the fourth quarter worth $26,000. Canal Insurance CO bought a new stake in WK Kellogg in the fourth quarter valued at $26,000. S.A. Mason LLC acquired a new position in shares of WK Kellogg during the fourth quarter valued at $30,000. Finally, Fifth Third Bancorp bought a new position in shares of WK Kellogg during the fourth quarter worth about $32,000. Institutional investors own 95.74% of the company’s stock.

WK Kellogg Price Performance

Shares of NYSE:KLG opened at $23.20 on Monday. The company has a 50 day moving average of $19.05 and a 200-day moving average of $14.69. The company has a quick ratio of 0.43, a current ratio of 0.84 and a debt-to-equity ratio of 1.62. WK Kellogg Co has a twelve month low of $9.65 and a twelve month high of $24.63.

WK Kellogg (NYSE:KLG) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.03). The company had revenue of $651.00 million during the quarter, compared to analysts’ expectations of $645.87 million. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. On average, research analysts expect that WK Kellogg Co will post 1.51 earnings per share for the current year.

WK Kellogg Announces Dividend

The business 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 dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend is Friday, May 31st.

Analysts Set New Price Targets

KLG has been the topic of several recent research reports. Stifel Nicolaus lifted 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, April 26th. Barclays lifted their price target on WK Kellogg from $12.00 to $15.00 and gave the company an “underweight” rating in a report on Friday, April 12th. Two equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Based on data from MarketBeat, WK Kellogg currently has an average rating of “Hold” and a consensus target price of $13.45.

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.