Cetera Investment Advisers Buys 40,475 Shares of WK Kellogg Co (NYSE:KLG)

Cetera Investment Advisers lifted its stake in WK Kellogg Co (NYSE:KLG - Free Report) by 47.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 125,365 shares of the company's stock after purchasing 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 filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of KLG. Barclays PLC boosted its position in WK Kellogg by 406.6% during the 3rd quarter. Barclays PLC now owns 128,710 shares of the company's stock worth $2,202,000 after acquiring an additional 103,301 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of WK Kellogg by 75.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 15,433 shares of the company's stock worth $278,000 after purchasing an additional 6,631 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of WK Kellogg by 13.2% in the 4th quarter. Janney Montgomery Scott LLC now owns 16,818 shares of the company's stock valued at $303,000 after acquiring an additional 1,955 shares in the last quarter. Inlet Private Wealth LLC increased its position in WK Kellogg by 1.0% in the 4th quarter. Inlet Private Wealth LLC now owns 324,040 shares of the company's stock worth $5,829,000 after buying an additional 3,200 shares during the period. Finally, Spire Wealth Management bought a new position in WK Kellogg in the 4th quarter worth approximately $56,000. 95.74% of the stock is currently owned by institutional investors and hedge funds.

WK Kellogg Trading Down 1.3%

Shares of NYSE:KLG traded down $0.23 during midday trading on Friday, reaching $17.23. The company's stock had a trading volume of 544,351 shares, compared to its average volume of 977,513. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.32 and a current ratio of 0.74. The firm has a 50 day moving average price of $18.46 and a two-hundred day moving average price of $18.49. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of 21.27, a PEG ratio of 2.01 and a beta of 0.54. 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 announced 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 for the quarter, compared to the consensus estimate 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 for the quarter was down 6.2% on a year-over-year basis. During the same period last year, the company posted $0.37 earnings per share. As a group, analysts forecast that WK Kellogg Co will post 1.57 earnings per share for the current year.

WK Kellogg Dividend Announcement

The business 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 dividend of $0.165 per share. The ex-dividend date is Friday, May 30th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.83%. WK Kellogg's dividend payout ratio (DPR) is currently 103.13%.

Analysts Set New Price Targets

Several analysts recently commented on KLG shares. Stifel Nicolaus decreased their price target 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 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 started coverage on WK Kellogg in a research report on Monday, March 24th. They set an "underweight" rating and a $18.00 target price for the company. Four analysts have rated the stock with a sell rating and three have given a hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus price target 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.