Cetera Investment Advisers Has $2.26 Million Position in WK Kellogg Co (NYSE:KLG)

Cetera Investment Advisers grew its position in WK Kellogg Co (NYSE:KLG - Free Report) by 47.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 125,365 shares of the company's stock after buying an additional 40,475 shares during the quarter. Cetera Investment Advisers owned 0.15% of WK Kellogg worth $2,255,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Halbert Hargrove Global Advisors LLC acquired a new position in shares of WK Kellogg in the 4th quarter valued at approximately $25,000. Ancora Advisors LLC increased its position in WK Kellogg by 181.8% during the 4th quarter. Ancora Advisors LLC now owns 1,519 shares of the company's stock worth $27,000 after purchasing an additional 980 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in WK Kellogg during the 4th quarter worth approximately $36,000. Wealthfront Advisers LLC acquired a new position in WK Kellogg during the 4th quarter worth approximately $44,000. Finally, Spire Wealth Management acquired a new position in WK Kellogg during the 4th quarter worth approximately $56,000. 95.74% of the stock is currently owned by institutional investors and hedge funds.

WK Kellogg Trading Up 1.7%

KLG opened at $18.26 on Monday. WK Kellogg Co has a fifty-two week low of $14.80 and a fifty-two week high of $22.21. 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 market capitalization of $1.57 billion, a price-to-earnings ratio of 22.54, a PEG ratio of 2.01 and a beta of 0.54. The company's 50 day moving average price is $18.70 and its two-hundred day moving average price is $18.47.

WK Kellogg (NYSE:KLG - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.20 earnings per share 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 business had revenue of $667.00 million for the quarter, compared to the consensus estimate of $677.91 million. During the same period in the previous year, the firm earned $0.37 earnings per share. The company's revenue was down 6.2% compared to the same quarter last year. As a group, research analysts predict that WK Kellogg Co will post 1.57 earnings per share for the current year.

WK Kellogg Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date is Friday, May 30th. WK Kellogg's dividend payout ratio is currently 103.13%.

Analyst Ratings Changes

KLG has been the subject of a number of research analyst reports. Morgan Stanley initiated coverage on shares of WK Kellogg in a research report on Monday, March 24th. They set an "underweight" rating and a $18.00 price objective for the company. Jefferies Financial Group lowered 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. Finally, Stifel Nicolaus lowered their price objective on shares of WK Kellogg from $19.00 to $18.00 and set a "hold" rating for the company in a research report on Friday, January 24th. Four equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Reduce" and a consensus price target of $16.86.

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.

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