BNP Paribas Financial Markets Invests $2.30 Million in WK Kellogg Co (NYSE:KLG)

BNP Paribas Financial Markets acquired a new stake in shares of WK Kellogg Co (NYSE:KLG - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 127,953 shares of the company's stock, valued at approximately $2,302,000. BNP Paribas Financial Markets owned 0.15% of WK Kellogg at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Truist Financial Corp boosted its position in shares of WK Kellogg by 2.2% in the fourth quarter. Truist Financial Corp now owns 39,658 shares of the company's stock worth $713,000 after purchasing an additional 838 shares during the period. Ancora Advisors LLC lifted 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 valued at $27,000 after buying an additional 980 shares in the last quarter. Halbert Hargrove Global Advisors LLC bought a new position in WK Kellogg in the 4th quarter worth $25,000. Jones Financial Companies Lllp increased its stake in WK Kellogg by 26.9% in the 4th quarter. Jones Financial Companies Lllp now owns 7,813 shares of the company's stock worth $141,000 after buying an additional 1,657 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its stake in WK Kellogg by 13.2% in the 4th quarter. Janney Montgomery Scott LLC now owns 16,818 shares of the company's stock worth $303,000 after buying an additional 1,955 shares in the last quarter. 95.74% of the stock is owned by hedge funds and other institutional investors.

WK Kellogg Stock Performance

NYSE:KLG remained flat at $17.87 during trading hours on Tuesday. The company's stock had a trading volume of 895,760 shares, compared to its average volume of 978,655. The company has a market capitalization of $1.54 billion, a PE ratio of 22.06, a PEG ratio of 2.01 and a beta of 0.54. WK Kellogg Co has a 1-year low of $14.80 and a 1-year high of $22.21. The company's 50 day moving average price is $18.66 and its 200 day moving average price is $18.48. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.74 and a quick ratio of 0.32.

WK Kellogg (NYSE:KLG - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.21). The business had revenue of $667.00 million during the quarter, compared to the consensus estimate of $677.91 million. WK Kellogg had a return on equity of 39.81% and a net margin of 2.66%. The company's revenue for the quarter was down 6.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.37 EPS. Equities research analysts predict that WK Kellogg Co will post 1.57 EPS for the current year.

WK Kellogg Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 3.69%. The ex-dividend date is Friday, May 30th. WK Kellogg's dividend payout ratio is 103.13%.

Wall Street Analysts Forecast Growth

KLG has been the subject of a number of recent analyst reports. Stifel Nicolaus dropped their price objective on WK Kellogg from $19.00 to $18.00 and set a "hold" rating for the company in a research note on Friday, January 24th. Morgan Stanley initiated coverage on WK Kellogg in a research note on Monday, March 24th. They issued an "underweight" rating and a $18.00 price target for the company. Finally, Jefferies Financial Group reduced their price objective on shares of WK Kellogg from $19.00 to $16.00 and set a "hold" rating on the stock in a research report on Tuesday, January 28th. Four analysts have rated the stock with a sell rating and three have issued a hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus target price 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.