AQR Capital Management LLC Buys 5,915 Shares of WK Kellogg Co (NYSE:KLG)

AQR Capital Management LLC boosted its position in WK Kellogg Co (NYSE:KLG) by 2.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 299,432 shares of the company’s stock after purchasing an additional 5,915 shares during the period. AQR Capital Management LLC owned about 0.35% of WK Kellogg worth $5,387,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Halbert Hargrove Global Advisors LLC bought a new position in shares of WK Kellogg during the 4th quarter valued at approximately $25,000. SBI Securities Co. Ltd. purchased a new stake in shares of WK Kellogg in the fourth quarter worth about $36,000. Wealthfront Advisers LLC bought a new position in shares of WK Kellogg during the 4th quarter valued at approximately $44,000. GAMMA Investing LLC lifted its position in WK Kellogg by 49.4% during the fourth quarter. GAMMA Investing LLC now owns 2,823 shares of the company’s stock valued at $51,000 after purchasing an additional 933 shares during the last quarter. Finally, Spire Wealth Management purchased a new position in WK Kellogg in the fourth quarter worth about $56,000. 95.74% of the stock is currently owned by institutional investors.

WK Kellogg Stock Down 0.7 %

WK Kellogg stock opened at $17.11 on Friday. WK Kellogg Co has a fifty-two week low of $14.80 and a fifty-two week high of $22.77. The company has a market cap of $1.47 billion, a PE ratio of 21.12, a PEG ratio of 2.01 and a beta of 0.54. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.32 and a current ratio of 0.74. The business’s 50-day simple moving average is $18.99 and its two-hundred day simple moving average is $18.43.

WK Kellogg (NYSE:KLG) last posted its earnings results on Tuesday, May 6th. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.21). The business had revenue of $667.00 million for the quarter, compared to analyst estimates of $677.91 million. WK Kellogg had a net margin of 2.66% and a return on equity of 39.81%. The company’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.37 earnings per share. Equities analysts anticipate that WK Kellogg Co will post 1.57 EPS for the current year.

WK Kellogg Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date is Friday, May 30th. WK Kellogg’s dividend payout ratio (DPR) is presently 81.48%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Morgan Stanley initiated coverage on shares of WK Kellogg in a research note on Monday, March 24th. They set an “underweight” rating and a $18.00 price objective for the company. Jefferies Financial Group lowered their price objective on shares of WK Kellogg from $19.00 to $16.00 and set a “hold” rating for the company in a research note on Tuesday, January 28th. Barclays dropped their target price on WK Kellogg from $19.00 to $16.00 and set an “underweight” rating on the stock in a research report on Friday, January 17th. Finally, Stifel Nicolaus cut their price objective on shares of WK Kellogg from $19.00 to $18.00 and set a “hold” rating on the stock in a research report on Friday, January 24th. Four analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Reduce” and an average target price of $16.86.

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.