Credit Agricole S A Increases Position in WK Kellogg Co. $KLG

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Credit Agricole S A lifted its position in WK Kellogg Co. (NYSE:KLG - Free Report) by 10.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,287,331 shares of the company's stock after purchasing an additional 403,970 shares during the period. Credit Agricole S A owned about 4.97% of WK Kellogg worth $85,447,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ancora Advisors LLC increased its stake in shares of WK Kellogg by 181.8% in the fourth 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. Curat Global LLC purchased a new stake in WK Kellogg during the 1st quarter valued at approximately $66,000. Whittier Trust Co. of Nevada Inc. grew its holdings in WK Kellogg by 1,030.8% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 3,675 shares of the company's stock valued at $73,000 after buying an additional 3,350 shares in the last quarter. Quantbot Technologies LP purchased a new stake in WK Kellogg during the 1st quarter valued at approximately $87,000. Finally, Canada Pension Plan Investment Board purchased a new stake in WK Kellogg during the 4th quarter valued at approximately $94,000. 95.74% of the stock is owned by hedge funds and other institutional investors.

WK Kellogg Trading Down 0.1%

KLG stock opened at $23.01 on Tuesday. The firm has a fifty day moving average price of $20.10 and a 200 day moving average price of $19.01. WK Kellogg Co. has a fifty-two week low of $14.80 and a fifty-two week high of $23.56. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.47 and a current ratio of 0.99. The firm has a market cap of $1.99 billion, a PE ratio of 62.18 and a beta of 0.24.

WK Kellogg (NYSE:KLG - Get Free Report) last posted 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 net margin of 1.31% and a return on equity of 31.34%. The business had revenue of $611.52 million during the quarter, compared to analysts' expectations of $653.36 million. During the same period last year, the business posted $0.36 earnings per share. The company's revenue for the quarter was down 8.8% compared to the same quarter last year. Sell-side analysts anticipate that WK Kellogg Co. will post 1.57 earnings per share for the current fiscal year.

WK Kellogg Dividend Announcement

The company 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 dividend of $0.165 per share. 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 payout ratio is presently 178.38%.

Wall Street Analyst Weigh In

KLG has been the subject of a number of research analyst reports. BNP Paribas set a $23.00 price objective on shares of WK Kellogg in a report on Friday, July 11th. Wall Street Zen raised shares of WK Kellogg from a "sell" rating to a "hold" rating in a report on Sunday, July 13th. Barclays reaffirmed an "underweight" rating and set a $23.00 price objective (up from $16.00) on shares of WK Kellogg in a report on Monday, July 14th. Evercore ISI increased their price objective on shares of WK Kellogg from $19.00 to $23.00 and gave the company an "in-line" rating in a report on Friday, July 11th. Finally, Cowen raised shares of WK Kellogg from a "sell" rating to a "hold" rating in a report on Friday, July 11th. Two investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to data from MarketBeat, WK Kellogg currently has an average rating of "Hold" and a consensus target price of $20.57.

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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