KBC Group NV Sells 21,556 Shares of WK Kellogg Co. (NYSE:KLG)

KBC Group NV cut its holdings in shares of WK Kellogg Co. (NYSE:KLG - Free Report) by 84.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,971 shares of the company's stock after selling 21,556 shares during the period. KBC Group NV's holdings in WK Kellogg were worth $79,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in KLG. Ancora Advisors LLC lifted its position in WK Kellogg by 181.8% during the 4th quarter. Ancora Advisors LLC now owns 1,519 shares of the company's stock valued at $27,000 after purchasing an additional 980 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of WK Kellogg in the 4th quarter valued at approximately $36,000. Wealthfront Advisers LLC acquired a new stake in shares of WK Kellogg in the 4th quarter valued at approximately $44,000. Curat Global LLC acquired a new stake in shares of WK Kellogg in the 1st quarter valued at approximately $66,000. Finally, Summit Securities Group LLC acquired a new stake in shares of WK Kellogg in the 4th quarter valued at approximately $70,000. 95.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on KLG shares. Evercore ISI increased their price target 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. Wall Street Zen downgraded shares of WK Kellogg from a "hold" rating to a "sell" rating in a report on Saturday, July 5th. Finally, Morgan Stanley began coverage on shares of WK Kellogg in a report on Monday, March 24th. They set an "underweight" rating and a $18.00 target price on the stock. Four investment analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat, WK Kellogg has a consensus rating of "Hold" and a consensus price target of $17.71.

WK Kellogg Stock Up 0.1%

Shares of KLG traded up $0.02 during mid-day trading on Friday, hitting $22.88. 6,885,018 shares of the company's stock were exchanged, compared to its average volume of 1,144,104. The company has a market cap of $1.97 billion, a PE ratio of 35.75, a P/E/G ratio of 1.89 and a beta of 0.23. WK Kellogg Co. has a 52 week low of $14.80 and a 52 week high of $22.97. The company has a 50-day simple moving average of $16.85 and a 200 day simple moving average of $17.83. 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 issued its quarterly earnings results 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). The business had revenue of $667.00 million for the quarter, compared to the consensus estimate of $677.91 million. WK Kellogg had a return on equity of 34.88% and a net margin of 2.14%. WK Kellogg's revenue was down 6.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.37 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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were paid a dividend of $0.165 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.66 annualized dividend and a dividend yield of 2.88%. WK Kellogg's dividend payout ratio is currently 103.13%.

About WK Kellogg

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.