Credit Agricole S A Has $85.45 Million Holdings in WK Kellogg Co. $KLG

Key Points

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Credit Agricole S A grew its stake in WK Kellogg Co. (NYSE:KLG - Free Report) by 10.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,287,331 shares of the company's stock after acquiring an additional 403,970 shares during the quarter. Credit Agricole S A owned 4.97% of WK Kellogg worth $85,447,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of KLG. LPL Financial LLC increased its stake in shares of WK Kellogg by 33.3% in the 4th quarter. LPL Financial LLC now owns 39,709 shares of the company's stock valued at $714,000 after acquiring an additional 9,921 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in WK Kellogg by 22.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 15,185 shares of the company's stock worth $273,000 after purchasing an additional 2,766 shares in the last quarter. Bank of Montreal Can increased its stake in WK Kellogg by 12.0% during the 4th quarter. Bank of Montreal Can now owns 27,898 shares of the company's stock worth $502,000 after purchasing an additional 2,994 shares in the last quarter. Raymond James Financial Inc. bought a new stake in WK Kellogg during the 4th quarter worth approximately $754,000. Finally, XTX Topco Ltd bought a new stake in WK Kellogg during the 4th quarter worth approximately $416,000. 95.74% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Barclays reissued an "underweight" rating and set a $23.00 target price (up from $16.00) on shares of WK Kellogg in a research note on Monday, July 14th. BNP Paribas set a $23.00 target price on WK Kellogg in a research note on Friday, July 11th. TD Cowen raised WK Kellogg from a "sell" rating to a "hold" rating and increased their target price for the stock from $14.00 to $23.00 in a research note on Monday, July 14th. Evercore ISI increased their target price on WK Kellogg from $19.00 to $23.00 and gave the stock an "in-line" rating in a research note on Friday, July 11th. Finally, Cowen raised WK Kellogg from a "sell" rating to a "hold" rating in a research report on Friday, July 11th. Seven analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus price target of $20.88.

WK Kellogg Stock Up 0.0%

Shares of KLG traded up $0.0050 during mid-day trading on Friday, hitting $22.9950. 646,712 shares of the company's stock were exchanged, compared to its average volume of 820,180. The company has a market cap of $1.99 billion, a PE ratio of 62.15 and a beta of 0.24. WK Kellogg Co. has a 52 week low of $14.80 and a 52 week high of $23.56. The company has a 50-day simple moving average of $20.68 and a 200 day simple moving average of $19.19. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.99 and a quick ratio of 0.47.

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

WK Kellogg Dividend Announcement

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

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.