Retirement Systems of Alabama Makes New $1.07 Million Investment in WK Kellogg Co (NYSE:KLG)

Retirement Systems of Alabama acquired a new position in WK Kellogg Co (NYSE:KLG) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 81,225 shares of the company’s stock, valued at approximately $1,067,000.

Several other hedge funds have also added to or reduced their stakes in KLG. Eukles Asset Management bought a new stake in shares of WK Kellogg in the fourth quarter valued at approximately $25,000. Canal Insurance CO bought a new stake in shares of WK Kellogg in the fourth quarter valued at approximately $26,000. Toth Financial Advisory Corp bought a new stake in shares of WK Kellogg in the fourth quarter valued at approximately $26,000. S.A. Mason LLC bought a new stake in shares of WK Kellogg in the fourth quarter valued at approximately $30,000. Finally, Fifth Third Bancorp bought a new stake in shares of WK Kellogg in the fourth quarter valued at approximately $32,000. Institutional investors own 95.74% of the company’s stock.

WK Kellogg Trading Down 9.6 %

KLG stock opened at $21.95 on Thursday. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.84 and a quick ratio of 0.43. WK Kellogg Co has a one year low of $9.65 and a one year high of $24.63. The firm has a 50 day simple moving average of $19.56 and a two-hundred day simple moving average of $14.94.

WK Kellogg (NYSE:KLG) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.37 EPS for the quarter, hitting analysts’ consensus estimates of $0.37. The company had revenue of $707.00 million during the quarter, compared to analysts’ expectations of $697.83 million. WK Kellogg’s revenue was down .7% on a year-over-year basis. On average, sell-side analysts anticipate that WK Kellogg Co will post 1.51 EPS for the current year.

WK Kellogg Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be paid a $0.16 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.64 dividend on an annualized basis and a yield of 2.92%.

Wall Street Analyst Weigh In

KLG has been the topic of several research reports. TD Cowen boosted their price target on shares of WK Kellogg from $13.00 to $24.00 and gave the company a “hold” rating in a research report on Wednesday. BNP Paribas cut shares of WK Kellogg from a “neutral” rating to an “underperform” rating and set a $20.00 price objective for the company. in a research note on Wednesday. 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 note on Wednesday. Barclays boosted their price objective on shares of WK Kellogg from $12.00 to $15.00 and gave the company an “underweight” rating in a research note on Friday, April 12th. Finally, Stifel Nicolaus boosted their price objective on shares of WK Kellogg from $20.00 to $22.00 and gave the company a “hold” rating in a research note on Wednesday. Three analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $16.55.

About WK Kellogg

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.