KBC Group NV Has $79,000 Position in WK Kellogg Co. (NYSE:KLG)

KBC Group NV cut its holdings in WK Kellogg Co. (NYSE:KLG - Free Report) by 84.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,971 shares of the company's stock after selling 21,556 shares during the quarter. KBC Group NV's holdings in WK Kellogg were worth $79,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Ancora Advisors LLC grew its holdings in shares of WK Kellogg by 181.8% in the 4th quarter. Ancora Advisors LLC now owns 1,519 shares of the company's stock worth $27,000 after acquiring an additional 980 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in WK Kellogg in the 4th quarter worth about $36,000. Wealthfront Advisers LLC purchased a new position in WK Kellogg in the 4th quarter worth about $44,000. Curat Global LLC acquired a new stake in WK Kellogg during the 1st quarter worth about $66,000. Finally, Summit Securities Group LLC purchased a new stake in WK Kellogg during the fourth quarter valued at about $70,000. 95.74% of the stock is owned by institutional investors and hedge funds.

WK Kellogg Stock Up 30.8%

Shares of KLG traded up $5.39 during trading hours on Thursday, reaching $22.89. The company's stock had a trading volume of 37,348,846 shares, compared to its average volume of 1,121,140. The company has a 50 day moving average of $16.75 and a two-hundred day moving average of $17.79. The company has a quick ratio of 0.34, a current ratio of 0.78 and a debt-to-equity ratio of 1.54. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of 35.76, a P/E/G ratio of 1.89 and a beta of 0.23. WK Kellogg Co. has a 1-year low of $14.80 and a 1-year high of $27.57.

WK Kellogg (NYSE:KLG - Get Free Report) last released its quarterly earnings data 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 company had revenue of $667.00 million during the quarter, compared to analyst estimates of $677.91 million. WK Kellogg had a net margin of 2.14% and a return on equity of 34.88%. The firm's quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.37 EPS. As a group, research analysts predict that WK Kellogg Co. will post 1.57 EPS for the current fiscal year.

WK Kellogg Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were issued a dividend of $0.165 per share. The ex-dividend date 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 103.13%.

Analyst Ratings Changes

Several research firms have recently weighed in on KLG. Morgan Stanley initiated coverage on shares of WK Kellogg in a research report on Monday, March 24th. They issued an "underweight" rating and a $18.00 target price on the stock. Wall Street Zen lowered shares of WK Kellogg from a "hold" rating to a "sell" rating in a research note on Saturday, July 5th. Five analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. Based on data from MarketBeat, WK Kellogg currently has an average rating of "Reduce" and a consensus target price 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.