Westhampton Capital LLC Reduces Stock Position in WK Kellogg Co (NYSE:KLG)

Westhampton Capital LLC decreased its position in shares of WK Kellogg Co (NYSE:KLG) by 3.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,794 shares of the company’s stock after selling 2,425 shares during the quarter. Westhampton Capital LLC owned 0.08% of WK Kellogg worth $1,211,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Alpha Omega Wealth Management LLC boosted its position in WK Kellogg by 4.9% during the third quarter. Alpha Omega Wealth Management LLC now owns 12,880 shares of the company’s stock worth $220,000 after purchasing an additional 600 shares in the last quarter. Texas Permanent School Fund Corp raised its stake in shares of WK Kellogg by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 57,706 shares of the company’s stock worth $1,085,000 after buying an additional 754 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of WK Kellogg by 88.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,890 shares of the company’s stock worth $32,000 after buying an additional 888 shares in the last quarter. Ancora Advisors LLC grew its stake in WK Kellogg by 0.5% in the 1st quarter. Ancora Advisors LLC now owns 318,596 shares of the company’s stock valued at $5,990,000 after acquiring an additional 1,550 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in WK Kellogg by 15.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,638 shares of the company’s stock valued at $276,000 after acquiring an additional 2,009 shares in the last quarter. Institutional investors and hedge funds own 95.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on KLG. JPMorgan Chase & Co. reduced their price target on shares of WK Kellogg from $22.00 to $17.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Barclays lowered their target price on WK Kellogg from $19.00 to $16.00 and set an “underweight” rating on the stock in a report on Friday, July 19th. Stifel Nicolaus dropped their price target on WK Kellogg from $22.00 to $18.00 and set a “hold” rating for the company in a research report on Tuesday, July 23rd. Finally, Bank of America downgraded WK Kellogg from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $24.00 to $17.00 in a research report on Wednesday, July 10th. Three investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $18.50.

WK Kellogg Price Performance

KLG stock opened at $17.80 on Wednesday. The stock has a market capitalization of $1.53 billion and a price-to-earnings ratio of 12.71. The company has a quick ratio of 0.36, a current ratio of 0.83 and a debt-to-equity ratio of 1.42. WK Kellogg Co has a 52-week low of $9.77 and a 52-week high of $24.63. The stock’s fifty day simple moving average is $17.53 and its 200-day simple moving average is $18.51.

WK Kellogg (NYSE:KLG) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.06). The business had revenue of $672.00 million during the quarter, compared to analyst estimates of $671.50 million. WK Kellogg had a return on equity of 42.12% and a net margin of 4.45%. WK Kellogg’s revenue for the quarter was down 4.0% on a year-over-year basis. Equities research analysts expect that WK Kellogg Co will post 1.5 EPS for the current year.

WK Kellogg Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 29th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date was Thursday, August 29th. WK Kellogg’s dividend payout ratio is currently 45.71%.

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.