KBC Group NV Decreases Holdings in WK Kellogg Co. (NYSE:KLG)

KBC Group NV trimmed its holdings in shares of WK Kellogg Co. (NYSE:KLG - Free Report) by 84.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ancora Advisors LLC boosted 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 buying an additional 980 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of WK Kellogg in the 4th quarter worth $36,000. Wealthfront Advisers LLC bought a new position in shares of WK Kellogg in the 4th quarter worth $44,000. Curat Global LLC bought a new position in shares of WK Kellogg in the 1st quarter worth $66,000. Finally, Summit Securities Group LLC bought a new position in shares of WK Kellogg in the 4th quarter worth $70,000. 95.74% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

KLG has been the topic of a number of recent research reports. Morgan Stanley initiated coverage on WK Kellogg in a report on Monday, March 24th. They issued an "underweight" rating and a $18.00 target price on the stock. Wall Street Zen cut WK Kellogg from a "hold" rating to a "sell" rating in a report on Saturday, July 5th. Five investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to MarketBeat, the company has a consensus rating of "Reduce" and an average price target of $16.86.

WK Kellogg Stock Up 30.6%

NYSE KLG traded up $5.36 on Thursday, reaching $22.86. The company had a trading volume of 24,968,161 shares, compared to its average volume of 1,078,815. The stock has a market capitalization of $1.97 billion, a P/E ratio of 35.73, a P/E/G ratio of 1.82 and a beta of 0.23. The company's fifty day moving average is $16.75 and its 200 day moving average is $17.79. WK Kellogg Co. has a 52-week low of $14.80 and a 52-week high of $27.57. The company has a quick ratio of 0.34, a current ratio of 0.78 and a debt-to-equity ratio of 1.54.

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

WK Kellogg Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date of this dividend was Friday, May 30th. WK Kellogg's 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.