LPL Financial LLC Increases Stake in WK Kellogg Co (NYSE:KLG)

LPL Financial LLC raised its holdings in shares of WK Kellogg Co (NYSE:KLG) by 33.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,709 shares of the company’s stock after acquiring an additional 9,921 shares during the quarter. LPL Financial LLC’s holdings in WK Kellogg were worth $714,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Halbert Hargrove Global Advisors LLC bought a new position in WK Kellogg in the 4th quarter worth $25,000. SBI Securities Co. Ltd. bought a new position in shares of WK Kellogg in the fourth quarter worth about $36,000. Wealthfront Advisers LLC purchased a new position in shares of WK Kellogg during the 4th quarter valued at about $44,000. GAMMA Investing LLC lifted its position in shares of 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 buying an additional 933 shares in the last quarter. Finally, Spire Wealth Management bought a new position in shares of WK Kellogg during the 4th quarter valued at approximately $56,000. Institutional investors own 95.74% of the company’s stock.

WK Kellogg Price Performance

KLG stock opened at $18.61 on Wednesday. The company has a current ratio of 0.74, a quick ratio of 0.32 and a debt-to-equity ratio of 1.45. WK Kellogg Co has a 12 month low of $15.17 and a 12 month high of $24.63. The stock has a market cap of $1.60 billion, a PE ratio of 22.98, a P/E/G ratio of 2.01 and a beta of 0.39. The company has a 50-day moving average price of $19.47 and a 200 day moving average price of $18.41.

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

WK Kellogg Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a dividend of $0.165 per share. This is a positive change from WK Kellogg’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.66 dividend on an annualized basis and a yield of 3.55%. WK Kellogg’s dividend payout ratio (DPR) is presently 81.48%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on KLG shares. 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. Barclays dropped their target price on shares of WK Kellogg from $19.00 to $16.00 and set an “underweight” rating for the company in a research report on Friday, January 17th. TD Cowen downgraded shares of WK Kellogg from a “hold” rating to a “sell” rating and reduced their price target for the company from $18.00 to $16.00 in a report on Wednesday, January 8th. Stifel Nicolaus dropped their price objective 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. Finally, Morgan Stanley assumed coverage on WK Kellogg in a report on Monday, March 24th. They set an “underweight” rating and a $18.00 price target for the company. Five research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $17.89.

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.