WK Kellogg Co. (NYSE:KLG) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System decreased its stake in shares of WK Kellogg Co. (NYSE:KLG) by 15.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,415 shares of the company’s stock after selling 12,978 shares during the quarter. New York State Teachers Retirement System owned about 0.08% of WK Kellogg worth $1,403,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in KLG. Ancora Advisors LLC grew its position in WK Kellogg by 181.8% during the fourth quarter. Ancora Advisors LLC now owns 1,519 shares of the company’s stock valued at $27,000 after buying an additional 980 shares during the period. SBI Securities Co. Ltd. acquired a new stake in WK Kellogg during the fourth quarter valued at $36,000. Wealthfront Advisers LLC acquired a new stake in WK Kellogg during the fourth quarter valued at $44,000. Curat Global LLC acquired a new stake in WK Kellogg during the first quarter valued at $66,000. Finally, Summit Securities Group LLC acquired a new stake in WK Kellogg during the fourth quarter valued at $70,000. Institutional investors and hedge funds own 95.74% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on KLG. Morgan Stanley began coverage on shares of WK Kellogg in a research report on Monday, March 24th. They set an “underweight” rating and a $18.00 price target on the stock. Wall Street Zen lowered shares of WK Kellogg from a “hold” rating to a “sell” rating in a research report on Saturday, July 5th. Five equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. Based on data from MarketBeat.com, WK Kellogg has an average rating of “Reduce” and a consensus target price of $16.86.

WK Kellogg Stock Up 3.6%

Shares of NYSE KLG opened at $17.52 on Thursday. The company’s 50-day simple moving average is $16.75 and its 200-day simple moving average is $17.79. The company has a quick ratio of 0.34, a current ratio of 0.78 and a debt-to-equity ratio of 1.54. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of 27.38, a price-to-earnings-growth ratio of 1.82 and a beta of 0.23. WK Kellogg Co. has a 52-week low of $14.80 and a 52-week high of $22.21.

WK Kellogg (NYSE:KLG) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.21). WK Kellogg had a return on equity of 34.88% and a net margin of 2.14%. The business had revenue of $667.00 million during the quarter, compared to analysts’ expectations of $677.91 million. During the same period in the prior year, the business posted $0.37 earnings per share. The business’s quarterly revenue was down 6.2% on a year-over-year basis. Equities analysts predict that WK Kellogg Co. will post 1.57 EPS for the current fiscal year.

WK Kellogg Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date was Friday, May 30th. WK Kellogg’s dividend payout ratio is presently 103.13%.

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.