WK Kellogg Co. $KLG Shares Bought by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. increased its stake in WK Kellogg Co. by 5.5%, acquiring an additional 68,285 shares to total 1,308,331 shares, worth approximately $26 million.
• WK Kellogg recently reported earnings of $0.25 EPS, below analyst expectations of $0.28, with a revenue decline of 8.8% year-over-year.
• The company declared a quarterly dividend of $0.165 per share, representing a 2.9% yield, with a high dividend payout ratio of 178.38%.

Charles Schwab Investment Management Inc. grew its stake in shares of WK Kellogg Co. (NYSE:KLG - Free Report) by 5.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,308,331 shares of the company's stock after acquiring an additional 68,285 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.52% of WK Kellogg worth $26,075,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of KLG. LSV Asset Management increased its stake in WK Kellogg by 280.5% during the 1st quarter. LSV Asset Management now owns 3,038,537 shares of the company's stock valued at $60,558,000 after purchasing an additional 2,239,966 shares in the last quarter. Wellington Management Group LLP purchased a new stake in shares of WK Kellogg during the fourth quarter valued at $14,737,000. Jupiter Asset Management Ltd. grew its holdings in shares of WK Kellogg by 17.8% during the first quarter. Jupiter Asset Management Ltd. now owns 2,939,001 shares of the company's stock valued at $58,574,000 after buying an additional 444,120 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its position in shares of WK Kellogg by 254.0% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 392,461 shares of the company's stock valued at $7,822,000 after acquiring an additional 281,600 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of WK Kellogg by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 5,640,453 shares of the company's stock valued at $112,414,000 after acquiring an additional 245,555 shares during the period. 95.74% of the stock is currently owned by institutional investors and hedge funds.

WK Kellogg Stock Performance

WK Kellogg stock traded up $0.03 during midday trading on Tuesday, hitting $23.01. 762,355 shares of the company were exchanged, compared to its average volume of 845,638. The firm has a market capitalization of $1.99 billion, a PE ratio of 62.18 and a beta of 0.24. WK Kellogg Co. has a fifty-two week low of $14.80 and a fifty-two week high of $23.56. The business has a fifty day simple moving average of $20.97 and a two-hundred day simple moving average of $19.26. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.47 and a current ratio of 0.99.

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

WK Kellogg Announces Dividend

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

Analysts Set New Price Targets

KLG has been the subject of a number of research reports. TD Cowen raised WK Kellogg from a "sell" rating to a "hold" rating and lifted their price target for the stock from $14.00 to $23.00 in a research report on Monday, July 14th. Wall Street Zen upgraded WK Kellogg from a "sell" rating to a "hold" rating in a research note on Sunday, July 13th. BNP Paribas set a $23.00 target price on WK Kellogg in a report on Friday, July 11th. JPMorgan Chase & Co. began coverage on shares of WK Kellogg in a report on Wednesday, August 20th. They issued a "neutral" rating and a $23.00 price target on the stock. Finally, Evercore ISI raised their price target on shares of WK Kellogg from $19.00 to $23.00 and gave the stock an "in-line" rating in a research report on Friday, July 11th. Seven investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Reduce" and a consensus target price of $20.88.

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.