Deutsche Bank AG Grows Stock Holdings in WK Kellogg Co (NYSE:KLG)

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

Several other institutional investors have also recently made changes to their positions in the company. Halbert Hargrove Global Advisors LLC purchased a new position in WK Kellogg in the fourth quarter worth approximately $25,000. Ancora Advisors LLC grew its holdings 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 worth $27,000 after purchasing an additional 980 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of WK Kellogg during the 4th quarter worth about $36,000. Wealthfront Advisers LLC purchased a new stake in WK Kellogg in the 4th quarter valued at about $44,000. Finally, Spire Wealth Management acquired a new position in WK Kellogg in the fourth quarter valued at about $56,000. Hedge funds and other institutional investors own 95.74% of the company's stock.

WK Kellogg Stock Down 1.3%

Shares of KLG traded down $0.23 during midday trading on Monday, hitting $17.23. The company had a trading volume of 544,351 shares, compared to its average volume of 977,513. WK Kellogg Co has a 1 year low of $14.80 and a 1 year high of $22.21. The firm has a market capitalization of $1.49 billion, a P/E ratio of 21.27, a P/E/G ratio of 2.01 and a beta of 0.54. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.32 and a current ratio of 0.74. The company's 50-day simple moving average is $18.43 and its 200-day simple moving average is $18.47.

WK Kellogg (NYSE:KLG - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $677.91 million. During the same quarter in the prior year, the firm earned $0.37 EPS. The firm's revenue was down 6.2% compared to the same quarter last year. As a group, sell-side analysts expect that WK Kellogg Co will post 1.57 EPS for the current year.

WK Kellogg Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on KLG. Morgan Stanley started coverage on shares of WK Kellogg in a research report on Monday, March 24th. They set an "underweight" rating and a $18.00 price target for the company. Jefferies Financial Group cut their price objective on WK Kellogg from $19.00 to $16.00 and set a "hold" rating on the stock in a report 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 stock. According to MarketBeat, the stock currently has an average rating of "Reduce" and an average price target of $16.86.

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.