Alaska Permanent Fund Corp Invests $764,000 in WK Kellogg Co (NYSE:KLG)

Alaska Permanent Fund Corp purchased a new position in shares of WK Kellogg Co (NYSE:KLG) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 58,132 shares of the company’s stock, valued at approximately $764,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. London & Capital Asset Management Ltd bought a new stake in shares of WK Kellogg in the fourth quarter valued at approximately $10,363,000. Private Management Group Inc. bought a new stake in WK Kellogg during the 4th quarter worth approximately $8,956,000. Inlet Private Wealth LLC bought a new stake in WK Kellogg during the 4th quarter worth approximately $4,038,000. Salem Investment Counselors Inc. bought a new stake in WK Kellogg during the 4th quarter worth approximately $2,319,000. Finally, Nordea Investment Management AB bought a new stake in WK Kellogg during the 4th quarter worth approximately $2,119,000. 95.74% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on KLG. Stifel Nicolaus upped their target price on shares of WK Kellogg from $11.00 to $13.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. Barclays upped 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. Two research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $12.75.

WK Kellogg Stock Up 0.9 %

NYSE:KLG opened at $24.34 on Friday. The company has a 50-day moving average price of $18.00 and a 200-day moving average price of $14.08. WK Kellogg Co has a 12 month low of $9.65 and a 12 month high of $24.63. 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 (NYSE:KLG) last posted its earnings results on Tuesday, February 13th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.03). The firm had revenue of $651.00 million for the quarter, compared to analysts’ expectations of $645.87 million. WK Kellogg’s revenue 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 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 paid a $0.16 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.64 annualized dividend and a dividend yield of 2.63%.

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.