WK Kellogg Co (NYSE:KLG) Stock Holdings Lifted by Truist Financial Corp

Truist Financial Corp lifted its position in WK Kellogg Co (NYSE:KLG) by 2.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 39,658 shares of the company’s stock after acquiring an additional 838 shares during the quarter. Truist Financial Corp’s holdings in WK Kellogg were worth $713,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KLG. GAMMA Investing LLC raised its stake in WK Kellogg by 49.4% during the 4th 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 period. Spire Wealth Management acquired a new position in WK Kellogg during the fourth quarter valued at $56,000. International Assets Investment Management LLC raised its position in WK Kellogg by 1,724.1% during the third quarter. International Assets Investment Management LLC now owns 4,688 shares of the company’s stock valued at $80,000 after buying an additional 4,431 shares during the period. Nisa Investment Advisors LLC lifted its stake in WK Kellogg by 65.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 8,802 shares of the company’s stock worth $151,000 after acquiring an additional 3,471 shares in the last quarter. Finally, HighTower Advisors LLC acquired a new stake in WK Kellogg during the 3rd quarter worth about $254,000. Institutional investors and hedge funds own 95.74% of the company’s stock.

WK Kellogg Price Performance

NYSE KLG opened at $19.86 on Monday. The company has a quick ratio of 0.32, a current ratio of 0.74 and a debt-to-equity ratio of 1.45. The stock has a market capitalization of $1.71 billion, a PE ratio of 24.51, a price-to-earnings-growth ratio of 2.01 and a beta of 0.70. WK Kellogg Co has a 12-month low of $14.37 and a 12-month high of $24.63. The company has a 50 day moving average price of $17.57 and a two-hundred day moving average price of $17.93.

WK Kellogg (NYSE:KLG) last released its quarterly earnings results on Tuesday, February 11th. The company reported $0.42 earnings per share 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%. As a group, equities 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 given a $0.165 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.32%. This is a boost from WK Kellogg’s previous quarterly dividend of $0.16. WK Kellogg’s payout ratio is currently 81.48%.

Wall Street Analysts Forecast Growth

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