PNC Financial Services Group Inc. Makes New Investment in WK Kellogg Co (NYSE:KLG)

PNC Financial Services Group Inc. purchased a new stake in WK Kellogg Co (NYSE:KLGFree Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 12,213 shares of the company’s stock, valued at approximately $160,000.

Other large investors also recently made changes to their positions in the company. Kellogg W K Foundation Trust acquired a new position in WK Kellogg in the 4th quarter worth $177,458,000. Massachusetts Financial Services Co. MA acquired a new position in shares of WK Kellogg during the fourth quarter worth about $18,412,000. Beutel Goodman & Co Ltd. bought a new position in shares of WK Kellogg during the fourth quarter worth about $13,730,000. London & Capital Asset Management Ltd acquired a new stake in WK Kellogg in the 4th quarter valued at approximately $10,363,000. Finally, Private Management Group Inc. bought a new stake in WK Kellogg in the 4th quarter valued at approximately $8,956,000. Institutional investors own 95.74% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on KLG shares. Stifel Nicolaus increased their target price on shares of WK Kellogg from $20.00 to $22.00 and gave the stock a “hold” rating in a report on Wednesday, May 8th. Evercore ISI upped their target price on WK Kellogg from $21.00 to $23.00 and gave the stock an “in-line” rating in a report on Wednesday, May 8th. Barclays raised their price target on WK Kellogg from $15.00 to $19.00 and gave the company an “underweight” rating in a research note on Thursday, May 9th. TD Cowen upped their price objective on WK Kellogg from $13.00 to $24.00 and gave the stock a “hold” rating in a research note on Wednesday, May 8th. Finally, BNP Paribas downgraded WK Kellogg from a “neutral” rating to an “underperform” rating and set a $20.00 price objective for the company. 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 company. According to MarketBeat.com, WK Kellogg has an average rating of “Hold” and an average target price of $16.95.

View Our Latest Analysis on WK Kellogg

WK Kellogg Trading Up 2.9 %

KLG opened at $16.94 on Thursday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.43 and a current ratio of 0.84. The stock’s fifty day simple moving average is $19.74 and its 200 day simple moving average is $17.08. WK Kellogg Co has a 1-year low of $9.65 and a 1-year high of $24.63.

WK Kellogg (NYSE:KLGGet Free Report) last posted its earnings results on Tuesday, May 7th. The company reported $0.37 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.37. The company had revenue of $707.00 million for the quarter, compared to analyst estimates of $697.83 million. The business’s revenue was down .7% on a year-over-year basis. Equities research analysts expect that WK Kellogg Co will post 1.54 EPS for the current fiscal year.

WK Kellogg Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date of this dividend was Friday, May 31st.

WK Kellogg Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding KLG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WK Kellogg Co (NYSE:KLGFree Report).

Institutional Ownership by Quarter for WK Kellogg (NYSE:KLG)

Receive News & Ratings for WK Kellogg Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WK Kellogg and related companies with MarketBeat.com's FREE daily email newsletter.