Deutsche Bank AG Lowers Stock Position in WK Kellogg Co. $KLG

Key Points

• Deutsche Bank AG has reduced its stake in WK Kellogg Co. by 17.8%, now owning approximately 140,893 shares worth $2.8 million after selling 30,534 shares.
• WK Kellogg's recent earnings report showed an EPS of $0.25, missing analyst expectations and marking an 8.8% decline in revenue year-over-year.
• Analysts have mixed ratings on WK Kellogg, with a consensus recommendation of "Reduce" and a target price of $20.57, indicating cautious sentiment among equity research firms.

Deutsche Bank AG lessened its holdings in shares of WK Kellogg Co. (NYSE:KLG - Free Report) by 17.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 140,893 shares of the company's stock after selling 30,534 shares during the quarter. Deutsche Bank AG owned 0.16% of WK Kellogg worth $2,808,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its stake in WK Kellogg by 5.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,308,331 shares of the company's stock valued at $26,075,000 after purchasing an additional 68,285 shares in the last quarter. Vanguard Group Inc. boosted its holdings in WK Kellogg by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 5,640,453 shares of the company's stock worth $112,414,000 after acquiring an additional 245,555 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in WK Kellogg by 6.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 11,939 shares of the company's stock worth $238,000 after acquiring an additional 679 shares during the last quarter. Jupiter Asset Management Ltd. boosted its holdings in WK Kellogg by 17.8% during the 1st quarter. Jupiter Asset Management Ltd. now owns 2,939,001 shares of the company's stock worth $58,574,000 after acquiring an additional 444,120 shares during the last quarter. Finally, LSV Asset Management boosted its holdings in WK Kellogg by 280.5% during the 1st quarter. LSV Asset Management now owns 3,038,537 shares of the company's stock worth $60,558,000 after acquiring an additional 2,239,966 shares during the last quarter. Institutional investors own 95.74% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on KLG shares. Wall Street Zen raised shares of WK Kellogg from a "sell" rating to a "hold" rating in a report on Sunday, July 13th. TD Cowen upgraded shares of WK Kellogg from a "sell" rating to a "hold" rating and lifted their target price for the company from $14.00 to $23.00 in a research report on Monday, July 14th. Evercore ISI lifted their target price on shares of WK Kellogg from $19.00 to $23.00 and gave the company an "in-line" rating in a research report on Friday, July 11th. BNP Paribas set a $23.00 target price on shares of WK Kellogg in a research report on Friday, July 11th. Finally, JPMorgan Chase & Co. started coverage on shares of WK Kellogg in a research report on Wednesday. They set a "neutral" rating and a $23.00 target price for the company. Seven equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Reduce" and a consensus price target of $20.88.

WK Kellogg Trading Up 0.0%

KLG stock traded up $0.0050 on Friday, reaching $22.9950. The company's stock had a trading volume of 646,712 shares, compared to its average volume of 820,942. The business has a fifty day simple moving average of $20.68 and a two-hundred day simple moving average of $19.17. WK Kellogg Co. has a 12-month low of $14.80 and a 12-month high of $23.56. The firm has a market cap of $1.99 billion, a PE ratio of 62.15 and a beta of 0.24. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.47 and a current ratio of 0.99.

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

WK Kellogg Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 29th will be paid a $0.165 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.66 dividend on an annualized basis and a yield of 2.9%. WK Kellogg's dividend payout ratio (DPR) is presently 178.38%.

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.