Nuveen LLC Buys Shares of 177,760 WK Kellogg Co. $KLG

Nuveen LLC bought a new stake in shares of WK Kellogg Co. (NYSE:KLG) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 177,760 shares of the company’s stock, valued at approximately $3,543,000. Nuveen LLC owned approximately 0.21% of WK Kellogg as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in WK Kellogg by 2.8% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,224 shares of the company’s stock valued at $443,000 after purchasing an additional 613 shares in the last quarter. PNC Financial Services Group Inc. raised its position in WK Kellogg by 6.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 11,939 shares of the company’s stock valued at $238,000 after purchasing an additional 679 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in WK Kellogg by 7.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 10,757 shares of the company’s stock valued at $214,000 after purchasing an additional 733 shares in the last quarter. Alpha Omega Wealth Management LLC raised its position in shares of WK Kellogg by 7.0% in the 1st quarter. Alpha Omega Wealth Management LLC now owns 13,780 shares of the company’s stock worth $275,000 after acquiring an additional 900 shares in the last quarter. Finally, Ancora Advisors LLC raised its position 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 worth $27,000 after acquiring an additional 980 shares in the last quarter. 95.74% of the stock is owned by institutional investors.

WK Kellogg Stock Up 0.2%

WK Kellogg stock opened at $23.04 on Thursday. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.47 and a current ratio of 0.99. The business’s 50-day simple moving average is $21.12 and its two-hundred day simple moving average is $19.29. The company has a market cap of $1.99 billion, a PE ratio of 62.26 and a beta of 0.24. WK Kellogg Co. has a fifty-two week low of $14.80 and a fifty-two week high of $23.56.

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

WK Kellogg Announces Dividend

The company 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. This represents a $0.66 annualized dividend and a yield of 2.9%. The ex-dividend date is Friday, August 29th. WK Kellogg’s payout ratio is presently 178.38%.

Wall Street Analysts Forecast Growth

KLG has been the subject of several recent research reports. Evercore ISI boosted their price target on WK Kellogg from $19.00 to $23.00 and gave the stock an “in-line” rating in a research report on Friday, July 11th. Barclays reissued an “underweight” rating and issued a $23.00 price target (up from $16.00) on shares of WK Kellogg in a research report on Monday, July 14th. TD Cowen raised WK Kellogg from a “sell” rating to a “hold” rating and boosted their price target for the stock from $14.00 to $23.00 in a research report on Monday, July 14th. JPMorgan Chase & Co. started coverage on WK Kellogg in a research report on Wednesday, August 20th. They issued a “neutral” rating and a $23.00 price target for the company. Finally, Wall Street Zen raised WK Kellogg from a “sell” rating to a “hold” rating in a research report on Sunday, July 13th. Seven research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $20.88.

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.