WK Kellogg Co. (NYSE:KLG) Shares Sold by Cetera Investment Advisers

Cetera Investment Advisers reduced its stake in shares of WK Kellogg Co. (NYSE:KLG) by 7.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 116,480 shares of the company’s stock after selling 8,885 shares during the quarter. Cetera Investment Advisers owned 0.14% of WK Kellogg worth $2,321,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Ancora Advisors LLC grew its stake in shares of WK Kellogg by 181.8% during the 4th quarter. Ancora Advisors LLC now owns 1,519 shares of the company’s stock worth $27,000 after purchasing an additional 980 shares during the period. Curat Global LLC acquired a new stake in WK Kellogg during the first quarter valued at $66,000. Whittier Trust Co. of Nevada Inc. grew its position in WK Kellogg by 1,030.8% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 3,675 shares of the company’s stock valued at $73,000 after buying an additional 3,350 shares during the period. Canada Pension Plan Investment Board purchased a new position in WK Kellogg in the fourth quarter valued at $94,000. Finally, Tower Research Capital LLC TRC raised its position in shares of WK Kellogg by 122.4% in 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 during the period. 95.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on KLG shares. Cowen upgraded WK Kellogg from a “sell” rating to a “hold” rating in a research report on Friday, July 11th. TD Cowen upgraded WK Kellogg from a “sell” rating to a “hold” rating and increased their price target for the stock from $14.00 to $23.00 in a research report on Monday, July 14th. Barclays restated an “underweight” rating and issued a $23.00 price objective (up from $16.00) on shares of WK Kellogg in a research report on Monday, July 14th. BNP Paribas set a $23.00 target price on WK Kellogg in a research note on Friday, July 11th. Finally, Evercore ISI increased their target price on WK Kellogg from $19.00 to $23.00 and gave the company an “in-line” rating in a research report on Friday, July 11th. Two equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.57.

WK Kellogg Price Performance

Shares of WK Kellogg stock opened at $23.22 on Friday. The stock has a market capitalization of $2.00 billion, a P/E ratio of 36.27 and a beta of 0.24. The business has a 50 day simple moving average of $19.12 and a two-hundred day simple moving average of $18.68. WK Kellogg Co. has a 12 month low of $14.80 and a 12 month high of $23.56. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.78 and a quick ratio of 0.34.

WK Kellogg (NYSE:KLG) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.21). The firm had revenue of $667.00 million for the quarter, compared to analysts’ expectations of $677.91 million. WK Kellogg had a return on equity of 34.88% and a net margin of 2.14%. The firm’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.37 earnings per share. As a group, analysts predict that WK Kellogg Co. will post 1.57 EPS for the current fiscal year.

WK Kellogg Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 29th will be paid a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, August 29th. WK Kellogg’s dividend payout ratio (DPR) is currently 103.13%.

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.