41,400 Shares in WK Kellogg Co. $KLG Bought by Caisse DE Depot ET Placement DU Quebec

Key Points

• Caisse DE Depot ET Placement DU Quebec has acquired a stake of 41,400 shares in WK Kellogg Co., valued at approximately $825,000, as reported in its recent SEC filing.
• WK Kellogg reported lower-than-expected earnings for the quarter, with EPS of $0.25 missing the consensus estimate of $0.28, alongside a revenue decline of 8.8% year-over-year.
• The company declared a quarterly dividend of $0.165 per share, reflecting a 2.9% dividend yield, although the payout ratio stands at 178.38%.

Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of WK Kellogg Co. (NYSE:KLG - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 41,400 shares of the company's stock, valued at approximately $825,000.

Several other hedge funds have also recently bought and sold shares of KLG. Envestnet Asset Management Inc. increased its holdings in shares of WK Kellogg by 22.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 15,185 shares of the company's stock worth $273,000 after buying an additional 2,766 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in WK Kellogg during the 4th quarter worth $754,000. Marshall Wace LLP bought a new stake in shares of WK Kellogg in the 4th quarter valued at about $397,000. First Trust Advisors LP increased its stake in WK Kellogg by 15.3% in the fourth quarter. First Trust Advisors LP now owns 147,285 shares of the company's stock valued at $2,650,000 after purchasing an additional 19,591 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in WK Kellogg by 11.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 474,136 shares of the company's stock worth $8,529,000 after acquiring an additional 49,798 shares in the last quarter. 95.74% of the stock is currently owned by institutional investors and hedge funds.

WK Kellogg Trading Down 0.1%

NYSE KLG traded down $0.02 on Thursday, hitting $22.96. The company's stock had a trading volume of 247,077 shares, compared to its average volume of 1,286,983. The firm has a market cap of $1.98 billion, a PE ratio of 62.04 and a beta of 0.24. The company has a quick ratio of 0.47, a current ratio of 0.99 and a debt-to-equity ratio of 1.97. WK Kellogg Co. has a 1-year low of $14.80 and a 1-year high of $23.56. The company's 50-day moving average is $21.85 and its 200 day moving average is $19.47.

WK Kellogg (NYSE:KLG - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.25 EPS for the quarter, missing analysts' consensus estimates of $0.28 by ($0.03). The company had revenue of $611.52 million during the quarter, compared to the consensus estimate of $653.36 million. WK Kellogg had a net margin of 1.31% and a return on equity of 31.34%. The company's quarterly revenue was down 8.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.36 EPS. As a group, analysts predict that WK Kellogg Co. will post 1.57 earnings per share for the current fiscal year.

WK Kellogg Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 29th will be issued a $0.165 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.66 annualized dividend and a yield of 2.9%. WK Kellogg's payout ratio is presently 178.38%.

Wall Street Analysts Forecast Growth

KLG has been the subject of several research analyst reports. Barclays reiterated an "underweight" rating and issued a $23.00 price target (up previously from $16.00) on shares of WK Kellogg in a report on Monday, July 14th. JPMorgan Chase & Co. started coverage on WK Kellogg in a research note on Wednesday, August 20th. They set a "neutral" rating and a $23.00 price objective on the stock. BNP Paribas set a $23.00 price target on WK Kellogg in a report on Friday, July 11th. TD Cowen upgraded shares of WK Kellogg from a "sell" rating to a "hold" rating and upped their price objective for the company from $14.00 to $23.00 in a report on Monday, July 14th. Finally, Wall Street Zen raised WK Kellogg from a "sell" rating to a "hold" rating in a report on Sunday, July 13th. Seven investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Reduce" and a consensus price target of $20.88.

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.