Siemens Fonds Invest GmbH Takes $454,000 Position in WK Kellogg Co (NYSE:KLG)

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

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Capital International Investors boosted its holdings in shares of WK Kellogg by 149.8% in the 4th quarter. Capital International Investors now owns 4,186,763 shares of the company's stock valued at $75,320,000 after buying an additional 2,510,779 shares during the last quarter. Jupiter Asset Management Ltd. grew its position in WK Kellogg by 172.9% in the fourth quarter. Jupiter Asset Management Ltd. now owns 2,494,881 shares of the company's stock valued at $44,883,000 after acquiring an additional 1,580,704 shares during the last quarter. Wellington Management Group LLP bought a new position in WK Kellogg in the 4th quarter valued at approximately $14,737,000. LSV Asset Management grew its holdings in shares of WK Kellogg by 572.9% during the fourth quarter. LSV Asset Management now owns 798,571 shares of the company's stock worth $14,366,000 after purchasing an additional 679,888 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of WK Kellogg by 1,217.5% in the 4th quarter. Victory Capital Management Inc. now owns 233,997 shares of the company's stock valued at $4,210,000 after buying an additional 216,236 shares during the last quarter. Institutional investors and hedge funds own 95.74% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on KLG shares. Stifel Nicolaus dropped their price objective on WK Kellogg from $19.00 to $18.00 and set a "hold" rating on the stock in a research note on Friday, January 24th. Jefferies Financial Group dropped their target price 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. Finally, Morgan Stanley began coverage on WK Kellogg in a research note on Monday, March 24th. They issued an "underweight" rating and a $18.00 target price for the company. Four equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Reduce" and an average price target of $16.86.

WK Kellogg Price Performance

Shares of WK Kellogg stock traded down $0.40 on Friday, reaching $17.05. The company's stock had a trading volume of 182,544 shares, compared to its average volume of 975,462. The stock has a 50-day moving average price of $18.52 and a 200-day moving average price of $18.47. WK Kellogg Co has a 52-week low of $14.80 and a 52-week high of $22.21. The company has a market capitalization of $1.47 billion, a P/E ratio of 21.03, a PEG ratio of 2.01 and a beta of 0.54. The company has a quick ratio of 0.32, a current ratio of 0.74 and a debt-to-equity ratio of 1.45.

WK Kellogg (NYSE:KLG - Get Free Report) last released its 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 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%. The business's revenue was down 6.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.37 earnings per share. Analysts expect that WK Kellogg Co will post 1.57 EPS for the current year.

WK Kellogg Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be given 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 3.87%. WK Kellogg's dividend payout ratio (DPR) is 103.13%.

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.