Private Management Group Inc. bought a new stake in WK Kellogg Co (NYSE:KLG – Free Report) during the fourth quarter, Holdings Channel.com reports. The institutional investor bought 681,615 shares of the company’s stock, valued at approximately $8,956,000.
A number of other large investors also recently bought and sold shares of KLG. London & Capital Asset Management Ltd acquired a new position in WK Kellogg in the fourth quarter valued at about $10,363,000. Inlet Private Wealth LLC purchased a new stake in WK Kellogg during the fourth quarter worth about $4,038,000. Salem Investment Counselors Inc. purchased a new stake in WK Kellogg during the fourth quarter worth about $2,319,000. Nordea Investment Management AB purchased a new stake in WK Kellogg during the fourth quarter worth about $2,119,000. Finally, Oak Thistle LLC purchased a new stake in WK Kellogg during the fourth quarter worth about $1,721,000. Institutional investors and hedge funds own 95.74% of the company’s stock.
WK Kellogg Stock Performance
Shares of KLG stock traded up $0.33 during trading hours on Wednesday, reaching $24.13. 1,237,269 shares of the stock were exchanged, compared to its average volume of 1,133,247. The business’s fifty day moving average is $17.62 and its two-hundred day moving average is $13.94. 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 12-month low of $9.65 and a 12-month high of $24.63.
WK Kellogg Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date was Thursday, February 29th.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on KLG. Stifel Nicolaus boosted their price target on shares of WK Kellogg from $11.00 to $13.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. Barclays boosted their price target on shares of WK Kellogg from $12.00 to $15.00 and gave the stock an “underweight” rating in a research note on Friday, April 12th. Two investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $12.75.
Read Our Latest Analysis on KLG
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.
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