Gladius Capital Management LP Buys Shares of 3,105 WK Kellogg Co (NYSE:KLG)

Gladius Capital Management LP purchased a new position in shares of WK Kellogg Co (NYSE:KLG) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 3,105 shares of the company’s stock, valued at approximately $41,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Eukles Asset Management acquired a new position in WK Kellogg during the 4th quarter worth $25,000. Canal Insurance CO bought a new stake in WK Kellogg in the fourth quarter valued at about $26,000. Toth Financial Advisory Corp acquired a new stake in WK Kellogg during the fourth quarter valued at approximately $26,000. Benjamin F. Edwards & Company Inc. acquired a new stake in WK Kellogg during the fourth quarter valued at approximately $26,000. Finally, S.A. Mason LLC bought a new position in WK Kellogg during the 4th quarter worth approximately $30,000. Institutional investors own 95.74% of the company’s stock.

WK Kellogg Trading Up 1.0 %

Shares of NYSE:KLG traded up $0.23 on Thursday, hitting $22.20. The company’s stock had a trading volume of 1,295,181 shares, compared to its average volume of 1,139,482. WK Kellogg Co has a 12 month low of $9.65 and a 12 month high of $24.63. The stock’s 50-day moving average is $19.71 and its two-hundred day moving average is $14.99. The company has a current ratio of 0.84, a quick ratio of 0.43 and a debt-to-equity ratio of 1.62.

WK Kellogg (NYSE:KLG) last announced its earnings results on Tuesday, May 7th. The company reported $0.37 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.37. The company had revenue of $707.00 million during the quarter, compared to the consensus estimate of $697.83 million. The company’s revenue was down .7% on a year-over-year basis. Equities research analysts forecast that WK Kellogg Co will post 1.51 earnings per share for the current year.

WK Kellogg Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on KLG shares. TD Cowen upped their price target on WK Kellogg from $13.00 to $24.00 and gave the company a “hold” rating in a research report on Wednesday. BNP Paribas cut shares of WK Kellogg from a “neutral” rating to an “underperform” rating and set a $20.00 target price on the stock. in a report on Wednesday. Barclays lifted their price target on shares of WK Kellogg from $15.00 to $19.00 and gave the company an “underweight” rating in a report on Thursday. Stifel Nicolaus raised their target price on shares of WK Kellogg from $20.00 to $22.00 and gave the stock a “hold” rating in a report on Wednesday. Finally, Evercore ISI upped their target price on WK Kellogg from $21.00 to $23.00 and gave the company an “in-line” rating in a report on Wednesday. Three analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat, WK Kellogg has an average rating of “Hold” and an average price target of $16.95.

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.