Transcendent Capital Group LLC Buys 4,804 Shares of WK Kellogg Co (NYSE:KLG)

Transcendent Capital Group LLC grew its position in WK Kellogg Co (NYSE:KLG) by 9,608.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 4,854 shares of the company’s stock after buying an additional 4,804 shares during the period. Transcendent Capital Group LLC’s holdings in WK Kellogg were worth $87,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. International Assets Investment Management LLC lifted its position in WK Kellogg by 1,724.1% during the 3rd quarter. International Assets Investment Management LLC now owns 4,688 shares of the company’s stock valued at $80,000 after purchasing an additional 4,431 shares during the period. Nisa Investment Advisors LLC lifted its holdings in WK Kellogg by 65.1% in the third quarter. Nisa Investment Advisors LLC now owns 8,802 shares of the company’s stock valued at $151,000 after buying an additional 3,471 shares during the period. Abich Financial Wealth Management LLC grew its holdings in WK Kellogg by 3,575.4% during the 3rd quarter. Abich Financial Wealth Management LLC now owns 4,484 shares of the company’s stock worth $77,000 after acquiring an additional 4,362 shares during the period. Atlas Financial Advisors Inc. bought a new stake in shares of WK Kellogg during the 3rd quarter valued at $818,000. Finally, CWA Asset Management Group LLC acquired a new position in shares of WK Kellogg in the 3rd quarter valued at $287,000. Institutional investors and hedge funds own 95.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on KLG shares. Barclays decreased their price objective on WK Kellogg from $19.00 to $16.00 and set an “underweight” rating for the company in a research note on Friday, January 17th. Stifel Nicolaus lowered their price target on WK Kellogg from $19.00 to $18.00 and set a “hold” rating for the company in a research note on Friday, January 24th. Jefferies Financial Group reduced their price objective on shares of WK Kellogg from $19.00 to $16.00 and set a “hold” rating on the stock in a research note on Tuesday, January 28th. Finally, TD Cowen downgraded shares of WK Kellogg from a “hold” rating to a “sell” rating and lowered their target price for the company from $18.00 to $16.00 in a research note on Wednesday, January 8th. Four investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $17.88.

WK Kellogg Stock Performance

Shares of KLG stock opened at $19.86 on Tuesday. The company has a market capitalization of $1.71 billion, a P/E ratio of 24.51, a price-to-earnings-growth ratio of 2.01 and a beta of 0.70. WK Kellogg Co has a 52 week low of $14.36 and a 52 week high of $24.63. 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 company’s 50 day moving average price is $17.47 and its two-hundred day moving average price is $17.82.

WK Kellogg (NYSE:KLG) last posted its quarterly earnings data on Tuesday, February 11th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.28 by $0.14. WK Kellogg had a net margin of 2.66% and a return on equity of 39.81%. On average, analysts expect that WK Kellogg Co will post 1.57 earnings per share for the current fiscal year.

WK Kellogg Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a dividend of $0.165 per share. This is a boost from WK Kellogg’s previous quarterly dividend of $0.16. This represents a $0.66 annualized dividend and a dividend yield of 3.32%. The ex-dividend date is Friday, February 28th. WK Kellogg’s dividend payout ratio is currently 81.48%.

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.