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

KBC Group NV lowered its holdings in shares of WK Kellogg Co. (NYSE:KLG - Free Report) by 84.4% in the first quarter, according to its most recent disclosure with the SEC. 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 SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital International Investors boosted its holdings in shares of WK Kellogg by 149.8% during the fourth quarter. Capital International Investors now owns 4,186,763 shares of the company's stock worth $75,320,000 after acquiring an additional 2,510,779 shares during the period. Jupiter Asset Management Ltd. boosted its stake in shares of WK Kellogg by 172.9% in the fourth quarter. Jupiter Asset Management Ltd. now owns 2,494,881 shares of the company's stock valued at $44,883,000 after buying an additional 1,580,704 shares during the period. Wellington Management Group LLP bought a new stake in shares of WK Kellogg in the fourth quarter valued at approximately $14,737,000. LSV Asset Management boosted its stake in shares of WK Kellogg by 572.9% in the fourth quarter. LSV Asset Management now owns 798,571 shares of the company's stock valued at $14,366,000 after buying an additional 679,888 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in shares of WK Kellogg by 1,217.5% in the fourth quarter. Victory Capital Management Inc. now owns 233,997 shares of the company's stock valued at $4,210,000 after buying an additional 216,236 shares during the period. Institutional investors own 95.74% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on KLG. Wall Street Zen cut WK Kellogg from a "hold" rating to a "sell" rating in a research note on Saturday. Morgan Stanley began coverage on WK Kellogg in a research note on Monday, March 24th. They issued an "underweight" rating and a $18.00 price target for the company. Five investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Reduce" and a consensus target price of $16.86.

WK Kellogg Price Performance

KLG traded up $0.61 during trading on Wednesday, hitting $17.52. 5,035,108 shares of the stock traded hands, compared to its average volume of 971,570. WK Kellogg Co. has a twelve month low of $14.80 and a twelve month high of $26.62. The company has a market cap of $1.51 billion, a price-to-earnings ratio of 27.38, a PEG ratio of 1.85 and a beta of 0.23. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.78 and a quick ratio of 0.34. The business has a 50 day moving average price of $16.76 and a 200 day moving average price of $17.79.

WK Kellogg (NYSE:KLG - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.21). WK Kellogg had a net margin of 2.14% and a return on equity of 34.88%. The firm had revenue of $667.00 million for the quarter, compared to analyst estimates of $677.91 million. During the same quarter in the prior year, the firm earned $0.37 earnings per share. The firm's revenue for the quarter was down 6.2% on a year-over-year basis. Equities research analysts forecast that WK Kellogg Co. will post 1.57 earnings per share for the current fiscal year.

WK Kellogg Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date of this dividend was Friday, May 30th. WK Kellogg's payout ratio is 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.