Westhampton Capital LLC Boosts Stake in WK Kellogg Co (NYSE:KLG)

Westhampton Capital LLC increased its holdings in shares of WK Kellogg Co (NYSE:KLG) by 2.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 83,494 shares of the company’s stock after buying an additional 2,000 shares during the period. Westhampton Capital LLC’s holdings in WK Kellogg were worth $1,570,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in KLG. Alpha Omega Wealth Management LLC increased its stake in shares of WK Kellogg by 15.2% during the first quarter. Alpha Omega Wealth Management LLC now owns 13,080 shares of the company’s stock worth $246,000 after acquiring an additional 1,725 shares during the period. Eukles Asset Management purchased a new position in shares of WK Kellogg during the 4th quarter worth approximately $25,000. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of WK Kellogg in the 4th quarter valued at approximately $26,000. Toth Financial Advisory Corp purchased a new position in shares of WK Kellogg in the 4th quarter valued at about $26,000. Finally, Canal Insurance CO acquired a new stake in shares of WK Kellogg during the 4th quarter valued at approximately $26,000. Hedge funds and other institutional investors own 95.74% of the company’s stock.

WK Kellogg Trading Up 1.2 %

NYSE KLG traded up $0.20 on Tuesday, hitting $16.54. 341,186 shares of the stock were exchanged, compared to its average volume of 1,144,083. The business’s fifty day moving average is $20.03 and its 200 day moving average is $17.05. WK Kellogg Co has a 52 week low of $9.65 and a 52 week high of $24.63. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.43 and a current ratio of 0.84.

WK Kellogg (NYSE:KLG) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.37 EPS for the quarter, meeting analysts’ consensus estimates of $0.37. The company had revenue of $707.00 million during the quarter, compared to analyst estimates of $697.83 million. The company’s quarterly revenue was down .7% on a year-over-year basis. On average, analysts anticipate that WK Kellogg Co will post 1.54 earnings per share for the current year.

WK Kellogg Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were paid a $0.16 dividend. The ex-dividend date was Friday, May 31st. This represents a $0.64 dividend on an annualized basis and a yield of 3.87%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Stifel Nicolaus raised their price target on WK Kellogg from $20.00 to $22.00 and gave the stock a “hold” rating in a research report on Wednesday, May 8th. BNP Paribas downgraded 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, May 8th. TD Cowen upped their price target on shares of WK Kellogg from $13.00 to $24.00 and gave the stock a “hold” rating in a research report on Wednesday, May 8th. Barclays lifted their price objective on shares of WK Kellogg from $15.00 to $19.00 and gave the company an “underweight” rating in a research note on Thursday, May 9th. Finally, Evercore ISI increased their price target on WK Kellogg from $21.00 to $23.00 and gave the company an “in-line” rating in a report on Wednesday, May 8th. Three investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $16.95.

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.