BNP Paribas Financial Markets Acquires Shares of 127,953 WK Kellogg Co (NYSE:KLG)

BNP Paribas Financial Markets purchased a new position in WK Kellogg Co (NYSE:KLG - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 127,953 shares of the company's stock, valued at approximately $2,302,000. BNP Paribas Financial Markets owned approximately 0.15% of WK Kellogg as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Keybank National Association OH increased its stake in shares of WK Kellogg by 1.1% during the fourth quarter. Keybank National Association OH now owns 4,925,470 shares of the company's stock worth $88,609,000 after buying an additional 52,129 shares during the period. Capital International Investors grew its holdings in WK Kellogg by 149.8% during the 4th quarter. Capital International Investors now owns 4,186,763 shares of the company's stock worth $75,320,000 after acquiring an additional 2,510,779 shares in the last quarter. Jupiter Asset Management Ltd. increased its position in shares of WK Kellogg by 172.9% in the 4th quarter. Jupiter Asset Management Ltd. now owns 2,494,881 shares of the company's stock valued at $44,883,000 after purchasing an additional 1,580,704 shares during the last quarter. American Century Companies Inc. increased its position in shares of WK Kellogg by 9.1% in the 4th quarter. American Century Companies Inc. now owns 1,516,717 shares of the company's stock valued at $27,286,000 after purchasing an additional 126,793 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of WK Kellogg by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 1,514,592 shares of the company's stock valued at $27,254,000 after purchasing an additional 6,879 shares in the last quarter. Hedge funds and other institutional investors own 95.74% of the company's stock.

WK Kellogg Stock Performance

Shares of NYSE KLG traded down $0.12 during trading hours on Thursday, reaching $17.40. The stock had a trading volume of 39,205 shares, compared to its average volume of 976,533. The firm has a 50-day moving average of $18.57 and a 200-day moving average of $18.47. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of 21.48, a PEG ratio of 2.01 and a beta of 0.54. The company has a current ratio of 0.74, a quick ratio of 0.32 and a debt-to-equity ratio of 1.45. WK Kellogg Co has a fifty-two week low of $14.80 and a fifty-two week high of $22.21.

WK Kellogg (NYSE:KLG - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $667.00 million during the quarter, compared to analyst estimates of $677.91 million. WK Kellogg had a net margin of 2.66% and a return on equity of 39.81%. WK Kellogg's revenue was down 6.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.37 earnings per share. Equities research analysts predict that WK Kellogg Co will post 1.57 earnings per share for the current year.

WK Kellogg Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be paid a $0.165 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.66 dividend on an annualized basis and a yield of 3.79%. WK Kellogg's dividend payout ratio is presently 103.13%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Stifel Nicolaus dropped their target price on WK Kellogg from $19.00 to $18.00 and set a "hold" rating on the stock in a report on Friday, January 24th. Morgan Stanley started coverage on WK Kellogg in a research report on Monday, March 24th. They set an "underweight" rating and a $18.00 price objective for the company. Finally, Jefferies Financial Group cut their target price on 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 investment 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 has an average rating of "Reduce" and an average target price of $16.86.

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.