CWA Asset Management Group LLC Has $592,000 Stock Holdings in WK Kellogg Co. (NYSE:KLG)

CWA Asset Management Group LLC decreased its holdings in shares of WK Kellogg Co. (NYSE:KLG - Free Report) by 39.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,722 shares of the company's stock after selling 19,288 shares during the quarter. CWA Asset Management Group LLC's holdings in WK Kellogg were worth $592,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in KLG. Halbert Hargrove Global Advisors LLC bought a new position in shares of WK Kellogg in the 4th quarter valued at about $25,000. Ancora Advisors LLC grew its stake in WK Kellogg by 181.8% in the 4th quarter. Ancora Advisors LLC now owns 1,519 shares of the company's stock valued at $27,000 after buying an additional 980 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in WK Kellogg in the 4th quarter valued at about $36,000. Wealthfront Advisers LLC acquired a new position in WK Kellogg in the 4th quarter valued at about $44,000. Finally, Curat Global LLC acquired a new position in WK Kellogg in the 1st quarter valued at about $66,000. Institutional investors and hedge funds own 95.74% of the company's stock.

WK Kellogg Trading Up 0.6%

NYSE KLG traded up $0.10 during mid-day trading on Friday, reaching $15.74. 1,578,458 shares of the stock were exchanged, compared to its average volume of 977,306. WK Kellogg Co. has a one year low of $14.80 and a one year high of $22.21. The stock has a 50 day simple moving average of $17.27 and a 200-day simple moving average of $18.08. The stock has a market cap of $1.36 billion, a P/E ratio of 24.59, a P/E/G ratio of 1.70 and a beta of 0.35. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.78 and a quick ratio of 0.34.

WK Kellogg (NYSE:KLG - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.20 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.21). WK Kellogg had a return on equity of 34.88% and a net margin of 2.14%. The firm had revenue of $667.00 million for the quarter, compared to the consensus estimate of $677.91 million. During the same period in the prior year, the business earned $0.37 EPS. WK Kellogg's quarterly revenue was down 6.2% on a year-over-year basis. On average, analysts anticipate that WK Kellogg Co. will post 1.57 EPS for the current year.

WK Kellogg Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date was Friday, May 30th. WK Kellogg's dividend payout ratio is presently 103.13%.

Wall Street Analyst Weigh In

Separately, Morgan Stanley initiated coverage on shares of WK Kellogg in a research report on Monday, March 24th. They set an "underweight" rating and a $18.00 target price on the stock. Four research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Reduce" and a consensus price target of $16.86.

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.