Keybank National Association OH Increases Holdings in WK Kellogg Co (NYSE:KLG)

Keybank National Association OH boosted its position in WK Kellogg Co (NYSE:KLG) by 1.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 4,925,470 shares of the company’s stock after purchasing an additional 52,129 shares during the period. Keybank National Association OH owned about 0.06% of WK Kellogg worth $88,609,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Halbert Hargrove Global Advisors LLC bought a new stake in shares of WK Kellogg in the 4th quarter worth approximately $25,000. SBI Securities Co. Ltd. bought a new position in shares of WK Kellogg during the fourth quarter valued at about $36,000. GAMMA Investing LLC increased its holdings in shares of WK Kellogg by 49.4% in the fourth quarter. GAMMA Investing LLC now owns 2,823 shares of the company’s stock worth $51,000 after buying an additional 933 shares during the period. Spire Wealth Management bought a new stake in shares of WK Kellogg in the 4th quarter valued at about $56,000. Finally, International Assets Investment Management LLC boosted its holdings 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 acquiring an additional 4,431 shares during the period. 95.74% of the stock is currently owned by institutional investors.

WK Kellogg Stock Down 2.0 %

NYSE:KLG opened at $19.42 on Tuesday. The firm has a market cap of $1.67 billion, a P/E ratio of 23.98, a P/E/G ratio of 2.01 and a beta of 0.70. 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 firm has a 50-day simple moving average of $17.61 and a two-hundred day simple moving average of $17.95. WK Kellogg Co has a fifty-two week low of $14.37 and a fifty-two week high of $24.63.

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

WK Kellogg Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a $0.165 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.66 annualized dividend and a yield of 3.40%. This is a boost from WK Kellogg’s previous quarterly dividend of $0.16. WK Kellogg’s payout ratio is presently 81.48%.

Analyst Ratings Changes

KLG has been the topic of a number of analyst reports. Jefferies Financial Group decreased their price target on WK Kellogg from $19.00 to $16.00 and set a “hold” rating on the stock in a research note on Tuesday, January 28th. Stifel Nicolaus lowered their price target on shares of WK Kellogg from $19.00 to $18.00 and set a “hold” rating for the company in a report on Friday, January 24th. Barclays cut their price target on shares of WK Kellogg from $19.00 to $16.00 and set an “underweight” rating on the stock in a report on Friday, January 17th. Finally, TD Cowen downgraded shares of WK Kellogg from a “hold” rating to a “sell” rating and lowered their price objective 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. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $17.88.

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.