Deutsche Bank AG Has $3.08 Million Stock Position in WK Kellogg Co (NYSE:KLG)

Deutsche Bank AG boosted its stake in shares of WK Kellogg Co (NYSE:KLG - Free Report) by 11.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 171,427 shares of the company's stock after acquiring an additional 17,017 shares during the quarter. Deutsche Bank AG owned approximately 0.20% of WK Kellogg worth $3,084,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in KLG. Halbert Hargrove Global Advisors LLC bought a new stake in WK Kellogg during the 4th quarter worth about $25,000. Ancora Advisors LLC grew its holdings in WK Kellogg by 181.8% during the 4th quarter. Ancora Advisors LLC now owns 1,519 shares of the company's stock worth $27,000 after acquiring an additional 980 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in WK Kellogg during the 4th quarter worth about $36,000. Wealthfront Advisers LLC bought a new position in shares of WK Kellogg in the 4th quarter valued at about $44,000. Finally, Spire Wealth Management bought a new position in shares of WK Kellogg in the 4th quarter valued at about $56,000. Institutional investors own 95.74% of the company's stock.

Analyst Ratings Changes

KLG has been the topic of several recent research reports. Stifel Nicolaus reduced their target price on shares of WK Kellogg from $19.00 to $18.00 and set a "hold" rating on the stock in a research note on Friday, January 24th. Morgan Stanley initiated coverage on shares of WK Kellogg in a research note on Monday, March 24th. They issued an "underweight" rating and a $18.00 target price on the stock. Finally, Jefferies Financial Group reduced their target price on shares of WK Kellogg from $19.00 to $16.00 and set a "hold" rating on the stock in a research note on Tuesday, January 28th. Four equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company's stock. According to MarketBeat.com, WK Kellogg presently has a consensus rating of "Reduce" and an average price target of $16.86.

WK Kellogg Trading Down 1.3%

WK Kellogg stock traded down $0.23 during midday trading on Friday, hitting $17.23. 544,351 shares of the stock were exchanged, compared to its average volume of 977,205. The company has a fifty day simple moving average of $18.46 and a two-hundred day simple moving average of $18.48. WK Kellogg Co has a 52 week low of $14.80 and a 52 week high of $22.21. The stock has a market capitalization of $1.49 billion, a PE ratio of 21.27, a P/E/G ratio of 2.01 and a beta of 0.54. The company has a quick ratio of 0.32, a current ratio of 0.74 and a debt-to-equity ratio of 1.45.

WK Kellogg (NYSE:KLG - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.21). WK Kellogg had a return on equity of 39.81% and a net margin of 2.66%. 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 previous year, the business earned $0.37 EPS. The firm's revenue was down 6.2% compared to the same quarter last year. Equities research analysts anticipate that WK Kellogg Co will post 1.57 EPS for the current fiscal year.

WK Kellogg Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 3.83%. The ex-dividend date of this dividend is Friday, May 30th. WK Kellogg's payout ratio is 103.13%.

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.