WK Kellogg Co. $KLG Stake Raised by Vanguard Group Inc.

Vanguard Group Inc. grew its holdings in shares of WK Kellogg Co. (NYSE:KLG) by 4.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,640,453 shares of the company’s stock after buying an additional 245,555 shares during the period. Vanguard Group Inc. owned 6.54% of WK Kellogg worth $112,414,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Ancora Advisors LLC increased its stake in shares of WK Kellogg by 181.8% during the fourth quarter. Ancora Advisors LLC now owns 1,519 shares of the company’s stock valued at $27,000 after acquiring an additional 980 shares during the period. Curat Global LLC acquired a new stake in WK Kellogg during the 1st quarter valued at $66,000. Whittier Trust Co. of Nevada Inc. raised its stake in WK Kellogg by 1,030.8% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 3,675 shares of the company’s stock valued at $73,000 after purchasing an additional 3,350 shares during the period. Canada Pension Plan Investment Board acquired a new stake in WK Kellogg during the 4th quarter valued at $94,000. Finally, Tower Research Capital LLC TRC raised its stake in WK Kellogg by 122.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,981 shares of the company’s stock valued at $144,000 after purchasing an additional 4,393 shares during the period. Institutional investors and hedge funds own 95.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on KLG. Evercore ISI upped their price target on shares of WK Kellogg from $19.00 to $23.00 and gave the stock an “in-line” rating in a research note on Friday, July 11th. JPMorgan Chase & Co. began coverage on WK Kellogg in a research report on Wednesday. They issued a “neutral” rating and a $23.00 price target on the stock. Wall Street Zen raised WK Kellogg from a “sell” rating to a “hold” rating in a research report on Sunday, July 13th. TD Cowen raised WK Kellogg from a “sell” rating to a “hold” rating and lifted their target price for the stock from $14.00 to $23.00 in a research report on Monday, July 14th. Finally, Cowen raised WK Kellogg from a “sell” rating to a “hold” rating in a research report on Friday, July 11th. Seven investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, WK Kellogg has an average rating of “Reduce” and an average target price of $20.88.

WK Kellogg Stock Up 0.0%

Shares of KLG opened at $22.9950 on Friday. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of 62.15 and a beta of 0.24. The company has a quick ratio of 0.47, a current ratio of 0.99 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 company has a 50-day moving average price of $20.68 and a two-hundred day moving average price of $19.15.

WK Kellogg (NYSE:KLG) last posted its 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 firm had revenue of $611.52 million during the quarter, compared to the consensus estimate of $653.36 million. During the same quarter last year, the firm posted $0.36 EPS. The business’s revenue was down 8.8% on a year-over-year basis. Equities analysts predict that WK Kellogg Co. will post 1.57 EPS for the current fiscal year.

WK Kellogg Announces Dividend

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

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.