Deutsche Bank AG Acquires 17,017 Shares of WK Kellogg Co (NYSE:KLG)

Deutsche Bank AG raised its position in shares of WK Kellogg Co (NYSE:KLG) by 11.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 171,427 shares of the company’s stock after acquiring an additional 17,017 shares during the quarter. Deutsche Bank AG owned approximately 0.20% of WK Kellogg worth $3,084,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Halbert Hargrove Global Advisors LLC purchased a new stake in WK Kellogg during the 4th quarter valued at about $25,000. Ancora Advisors LLC boosted its holdings in WK Kellogg by 181.8% in the 4th quarter. Ancora Advisors LLC now owns 1,519 shares of the company’s stock worth $27,000 after buying an additional 980 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of WK Kellogg during the fourth quarter worth about $36,000. Wealthfront Advisers LLC purchased a new position in shares of WK Kellogg in the fourth quarter worth $44,000. Finally, Spire Wealth Management purchased a new position in shares of WK Kellogg during the fourth quarter valued at about $56,000. Institutional investors own 95.74% of the company’s stock.

WK Kellogg Price Performance

Shares of KLG stock opened at $17.87 on Wednesday. WK Kellogg Co has a fifty-two week low of $14.80 and a fifty-two week high of $22.21. 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 market capitalization of $1.54 billion, a PE ratio of 22.06, a P/E/G ratio of 2.01 and a beta of 0.54. The stock’s 50-day simple moving average is $18.62 and its 200-day simple moving average is $18.47.

WK Kellogg (NYSE:KLG) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.21). WK Kellogg had a net margin of 2.66% and a return on equity of 39.81%. The company had revenue of $667.00 million during the quarter, compared to analyst estimates of $677.91 million. During the same period in the previous year, the firm posted $0.37 earnings per share. The company’s revenue was down 6.2% compared to the same quarter last year. Equities analysts expect that WK Kellogg Co will post 1.57 earnings per share for the current year.

WK Kellogg Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.165 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.69%. WK Kellogg’s dividend payout ratio is currently 103.13%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on KLG. Jefferies Financial Group dropped their price target on WK Kellogg from $19.00 to $16.00 and set a “hold” rating for the company in a research report on Tuesday, January 28th. Morgan Stanley started coverage on shares of WK Kellogg in a research report on Monday, March 24th. They issued an “underweight” rating and a $18.00 price target for the company. Finally, Stifel Nicolaus decreased their price target 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. Four analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $16.86.

About WK Kellogg

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.