Charles Schwab Investment Management Inc. Acquires 68,285 Shares of WK Kellogg Co. $KLG

Charles Schwab Investment Management Inc. grew its holdings in WK Kellogg Co. (NYSE:KLG) by 5.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,308,331 shares of the company’s stock after purchasing an additional 68,285 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.52% of WK Kellogg worth $26,075,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of KLG. LPL Financial LLC raised its holdings in shares of WK Kellogg by 33.3% in the 4th quarter. LPL Financial LLC now owns 39,709 shares of the company’s stock valued at $714,000 after purchasing an additional 9,921 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of WK Kellogg by 22.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 15,185 shares of the company’s stock valued at $273,000 after purchasing an additional 2,766 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of WK Kellogg in the 4th quarter valued at about $754,000. Marshall Wace LLP bought a new stake in shares of WK Kellogg in the 4th quarter valued at about $397,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of WK Kellogg during the 4th quarter worth approximately $94,000. Institutional investors own 95.74% of the company’s stock.

WK Kellogg Trading Up 0.2%

Shares of WK Kellogg stock opened at $22.9950 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.47 and a debt-to-equity ratio of 1.97. WK Kellogg Co. has a 12-month low of $14.80 and a 12-month high of $23.56. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of 62.15 and a beta of 0.24. The firm’s 50 day simple moving average is $20.39 and its two-hundred day simple moving average is $19.06.

WK Kellogg (NYSE:KLG) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.03). WK Kellogg had a net margin of 1.31% and a return on equity of 31.34%. The company had revenue of $611.52 million for the quarter, compared to analyst estimates of $653.36 million. During the same quarter in the previous year, the company posted $0.36 EPS. The company’s revenue for the quarter was down 8.8% compared to the same quarter last year. Analysts predict that WK Kellogg Co. will post 1.57 EPS for the current year.

WK Kellogg Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 29th will be paid a dividend of $0.165 per share. The ex-dividend date is Friday, August 29th. This represents a $0.66 dividend on an annualized basis and a yield of 2.9%. WK Kellogg’s dividend payout ratio is presently 178.38%.

Analysts Set New Price Targets

Several research analysts recently commented on KLG shares. BNP Paribas set a $23.00 price objective on shares of WK Kellogg in a research note on Friday, July 11th. JPMorgan Chase & Co. started coverage on shares of WK Kellogg in a research note on Wednesday. They set a “neutral” rating and a $23.00 price objective for the company. Wall Street Zen upgraded shares of WK Kellogg from a “sell” rating to a “hold” rating in a research note on Sunday, July 13th. TD Cowen upgraded shares of WK Kellogg from a “sell” rating to a “hold” rating and boosted their price objective for the stock from $14.00 to $23.00 in a research note on Monday, July 14th. Finally, Barclays reiterated an “underweight” rating and set a $23.00 price objective (up previously from $16.00) on shares of WK Kellogg in a research note on Monday, July 14th. Seven equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $20.88.

WK Kellogg 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.