Charles Schwab Investment Management Inc. Raises Stock Position in WK Kellogg Co. $KLG

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

Other hedge funds have also recently modified their holdings of the company. Ancora Advisors LLC grew its position in shares of WK Kellogg by 181.8% during the 4th quarter. Ancora Advisors LLC now owns 1,519 shares of the company's stock valued at $27,000 after acquiring an additional 980 shares during the period. Curat Global LLC purchased a new stake in shares of WK Kellogg in the first quarter worth $66,000. Whittier Trust Co. of Nevada Inc. increased its stake in shares of WK Kellogg by 1,030.8% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 3,675 shares of the company's stock worth $73,000 after purchasing an additional 3,350 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of WK Kellogg in the fourth quarter worth $94,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of WK Kellogg by 122.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,981 shares of the company's stock worth $144,000 after purchasing an additional 4,393 shares in the last quarter. Institutional investors own 95.74% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on KLG shares. Wall Street Zen raised shares of WK Kellogg from a "sell" rating to a "hold" rating in a research note on Sunday, July 13th. JPMorgan Chase & Co. started coverage on shares of WK Kellogg in a research note on Wednesday. They issued a "neutral" rating and a $23.00 price objective for the company. Evercore ISI increased their price objective on shares of WK Kellogg from $19.00 to $23.00 and gave the stock an "in-line" rating in a research note on Friday, July 11th. Cowen raised shares of WK Kellogg from a "sell" rating to a "hold" rating in a research note on Friday, July 11th. Finally, Barclays reissued an "underweight" rating and issued a $23.00 price objective (up from $16.00) on shares of WK Kellogg in a research note on Monday, July 14th. Seven research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus target price of $20.88.

WK Kellogg Price Performance

Shares of NYSE:KLG traded up $0.0050 during midday trading on Friday, reaching $22.9950. 646,712 shares of the company were exchanged, compared to its average volume of 820,942. The company has a current ratio of 0.99, a quick ratio of 0.47 and a debt-to-equity ratio of 1.97. The business's fifty day moving average is $20.68 and its two-hundred day moving average is $19.17. WK Kellogg Co. has a one year low of $14.80 and a one year high of $23.56. The stock has a market cap of $1.99 billion, a PE ratio of 19.47 and a beta of 0.24.

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

WK Kellogg Dividend Announcement

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 paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend 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%.

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.