Teacher Retirement System of Texas Has $3.22 Million Stock Holdings in WK Kellogg Co (NYSE:KLG)

Teacher Retirement System of Texas lowered its position in shares of WK Kellogg Co (NYSE:KLG) by 11.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 179,143 shares of the company’s stock after selling 24,219 shares during the quarter. Teacher Retirement System of Texas owned 0.21% of WK Kellogg worth $3,223,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of KLG. Halbert Hargrove Global Advisors LLC acquired a new position in shares of WK Kellogg in the 4th quarter valued at approximately $25,000. SBI Securities Co. Ltd. bought a new position in WK Kellogg in the fourth quarter valued at approximately $36,000. Wealthfront Advisers LLC acquired a new position in shares of WK Kellogg in the fourth quarter valued at approximately $44,000. GAMMA Investing LLC increased its position in shares of WK Kellogg by 49.4% during the fourth quarter. GAMMA Investing LLC now owns 2,823 shares of the company’s stock worth $51,000 after acquiring an additional 933 shares in the last quarter. Finally, Spire Wealth Management acquired a new stake in shares of WK Kellogg during the fourth quarter worth $56,000. Institutional investors own 95.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on KLG. Jefferies Financial Group lowered their target price on WK Kellogg from $19.00 to $16.00 and set a “hold” rating for the company in a report on Tuesday, January 28th. Barclays decreased their price objective on WK Kellogg from $19.00 to $16.00 and set an “underweight” rating for the company in a report on Friday, January 17th. Morgan Stanley initiated coverage on WK Kellogg in a research note on Monday. They issued an “underweight” rating and a $18.00 target price on the stock. TD Cowen cut shares of WK Kellogg from a “hold” rating to a “sell” rating and decreased their price target for the stock from $18.00 to $16.00 in a research note on Wednesday, January 8th. 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. Five research analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and an average price target of $17.89.

WK Kellogg Stock Up 1.8 %

KLG stock opened at $18.55 on Wednesday. WK Kellogg Co has a 1-year low of $15.17 and a 1-year high of $24.63. The business’s 50 day simple moving average is $18.34 and its 200 day simple moving average is $18.19. The company has a current ratio of 0.74, a quick ratio of 0.32 and a debt-to-equity ratio of 1.45. The firm has a market capitalization of $1.60 billion, a PE ratio of 22.90, a PEG ratio of 2.01 and a beta of 0.30.

WK Kellogg (NYSE:KLG) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.42 earnings per share (EPS) for the quarter, topping 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%. As a group, research analysts anticipate that WK Kellogg Co will post 1.57 EPS for the current year.

WK Kellogg Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a dividend of $0.165 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.56%. This is an increase from WK Kellogg’s previous quarterly dividend of $0.16. WK Kellogg’s dividend payout ratio (DPR) is currently 81.48%.

WK Kellogg Company 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.