Siemens Fonds Invest GmbH Purchases New Stake in WK Kellogg Co (NYSE:KLG)

Siemens Fonds Invest GmbH acquired a new position in WK Kellogg Co (NYSE:KLG - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 25,247 shares of the company's stock, valued at approximately $454,000.

Other large investors have also added to or reduced their stakes in the company. Halbert Hargrove Global Advisors LLC bought a new stake in WK Kellogg during the 4th quarter worth about $25,000. Ancora Advisors LLC raised its holdings in WK Kellogg by 181.8% during the fourth 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. SBI Securities Co. Ltd. bought a new stake in WK Kellogg during the fourth quarter worth about $36,000. Wealthfront Advisers LLC acquired a new position in WK Kellogg during the fourth quarter valued at approximately $44,000. Finally, Spire Wealth Management bought a new position in WK Kellogg in the fourth quarter valued at approximately $56,000. Institutional investors and hedge funds own 95.74% of the company's stock.

Wall Street Analysts Forecast Growth

KLG has been the subject of several recent analyst reports. Morgan Stanley assumed coverage on WK Kellogg in a report on Monday, March 24th. They issued an "underweight" rating and a $18.00 price objective for the company. Stifel Nicolaus dropped their price target on shares of WK Kellogg from $19.00 to $18.00 and set a "hold" rating on the stock in a research report on Friday, January 24th. Finally, Jefferies Financial Group decreased their price objective on shares of WK Kellogg from $19.00 to $16.00 and set a "hold" rating for the company 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 stock. According to data from MarketBeat, WK Kellogg currently has an average rating of "Reduce" and an average target price of $16.86.

WK Kellogg Stock Performance

WK Kellogg stock traded down $0.31 during mid-day trading on Wednesday, hitting $17.49. 552,119 shares of the company's stock traded hands, compared to its average volume of 980,218. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.74 and a quick ratio of 0.32. The firm has a 50 day simple moving average of $18.62 and a two-hundred day simple moving average of $18.47. WK Kellogg Co has a fifty-two week low of $14.80 and a fifty-two week high of $22.21. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of 21.60, a P/E/G ratio of 2.01 and a beta of 0.54.

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

WK Kellogg Dividend Announcement

The company 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 $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 3.77%. The ex-dividend date is Friday, May 30th. WK Kellogg's payout ratio is 103.13%.

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.