Ameriprise Financial Inc. Has $4.57 Million Stock Holdings in WK Kellogg Co (NYSE:KLG)

Ameriprise Financial Inc. lifted its position in WK Kellogg Co (NYSE:KLG) by 5.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 254,032 shares of the company’s stock after purchasing an additional 12,117 shares during the quarter. Ameriprise Financial Inc. owned 0.29% of WK Kellogg worth $4,570,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ancora Advisors LLC grew its stake in shares of WK Kellogg by 181.8% in the 4th quarter. Ancora Advisors LLC now owns 1,519 shares of the company’s stock valued at $27,000 after purchasing an additional 980 shares during the period. AQR Capital Management LLC boosted its stake in WK Kellogg by 2.0% in the 4th quarter. AQR Capital Management LLC now owns 299,432 shares of the company’s stock valued at $5,387,000 after buying an additional 5,915 shares in the last quarter. Northern Trust Corp grew its position in WK Kellogg by 2.5% in the fourth quarter. Northern Trust Corp now owns 781,592 shares of the company’s stock valued at $14,061,000 after acquiring an additional 18,704 shares during the period. Price T Rowe Associates Inc. MD raised its stake in WK Kellogg by 18.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,474 shares of the company’s stock worth $459,000 after acquiring an additional 3,945 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in WK Kellogg by 122.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,981 shares of the company’s stock worth $144,000 after acquiring an additional 4,393 shares in the last quarter. 95.74% of the stock is owned by institutional investors.

WK Kellogg Stock Performance

Shares of NYSE:KLG opened at $17.23 on Monday. WK Kellogg Co has a twelve month low of $14.80 and a twelve month high of $22.21. The firm has a market cap of $1.49 billion, a PE ratio of 21.27, a price-to-earnings-growth ratio of 2.01 and a beta of 0.54. 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 business has a fifty day moving average of $18.46 and a 200-day moving average of $18.48.

WK Kellogg (NYSE:KLG) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.21). WK Kellogg had a return on equity of 39.81% and a net margin of 2.66%. The company had revenue of $667.00 million for the quarter, compared to the consensus estimate of $677.91 million. During the same period in the prior year, the company earned $0.37 EPS. The firm’s revenue was down 6.2% compared to the same quarter last year. On average, equities research analysts predict that WK Kellogg Co will post 1.57 EPS for the current fiscal year.

WK Kellogg Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date is Friday, May 30th. WK Kellogg’s dividend payout ratio is currently 103.13%.

Wall Street Analysts Forecast Growth

KLG has been the topic of several recent analyst reports. Jefferies Financial Group reduced their target price on shares of WK Kellogg from $19.00 to $16.00 and set a “hold” rating on the stock in a research note on Tuesday, January 28th. Morgan Stanley assumed coverage on shares of WK Kellogg in a report on Monday, March 24th. They set an “underweight” rating and a $18.00 price target for the company. Four equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $16.86.

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.