Gladius Capital Management LP Purchases New Position in WK Kellogg Co (NYSE:KLG)

Gladius Capital Management LP acquired a new position in WK Kellogg Co (NYSE:KLG) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,105 shares of the company’s stock, valued at approximately $41,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in KLG. Oldfield Partners LLP acquired a new stake in WK Kellogg during the fourth quarter valued at $1,123,000. Savoir Faire Capital Management L.P. purchased a new position in shares of WK Kellogg in the 4th quarter valued at about $1,744,000. Charles Schwab Investment Management Inc. acquired a new position in WK Kellogg in the 4th quarter worth about $6,159,000. Maryland State Retirement & Pension System purchased a new position in WK Kellogg during the fourth quarter worth approximately $385,000. Finally, National Bank of Canada FI acquired a new stake in WK Kellogg in the fourth quarter valued at approximately $115,000. Institutional investors and hedge funds own 95.74% of the company’s stock.

Analyst Upgrades and Downgrades

KLG has been the subject of several research analyst reports. Barclays upped their target price on WK Kellogg from $15.00 to $19.00 and gave the stock an “underweight” rating in a research note on Thursday. Stifel Nicolaus lifted their target price on shares of WK Kellogg from $20.00 to $22.00 and gave the company a “hold” rating in a research report on Wednesday. BNP Paribas downgraded shares of WK Kellogg from a “neutral” rating to an “underperform” rating and set a $20.00 price target for the company. in a research report on Wednesday. Evercore ISI lifted their price objective on WK Kellogg from $21.00 to $23.00 and gave the stock an “in-line” rating in a report on Wednesday. Finally, TD Cowen increased their target price on WK Kellogg from $13.00 to $24.00 and gave the company a “hold” rating in a report on Wednesday. Three investment analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $16.95.

WK Kellogg Price Performance

WK Kellogg stock traded up $0.23 during midday trading on Thursday, hitting $22.20. 1,295,181 shares of the stock were exchanged, compared to its average volume of 1,139,482. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.84 and a quick ratio of 0.43. The stock’s 50-day simple moving average is $19.71 and its 200 day simple moving average is $14.99. WK Kellogg Co has a fifty-two week low of $9.65 and a fifty-two week high of $24.63.

WK Kellogg (NYSE:KLG) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.37 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.37. The firm had revenue of $707.00 million for the quarter, compared to analyst estimates of $697.83 million. The business’s quarterly revenue was down .7% on a year-over-year basis. As a group, equities analysts expect that WK Kellogg Co will post 1.51 earnings per share for the current fiscal year.

WK Kellogg Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date is Friday, May 31st.

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.