LPL Financial LLC Has $1.42 Million Stock Holdings in WK Kellogg Co. $KLG

Key Points

• LPL Financial LLC increased its shareholding in WK Kellogg Co. by 78.9% during the first quarter, owning approximately 71,025 shares worth $1,416,000 by the end of the quarter.
• Several hedge funds have altered their positions in WK Kellogg, with Wellington Management Group purchasing a new position valued at $14.7 million and Universal Beteiligungs increasing its position by 254%.
• WK Kellogg reported a miss on earnings with $0.25 EPS against a $0.28 expectation, and a revenue decline of 8.8% year-over-year during its most recent quarterly earnings announcement.

LPL Financial LLC boosted its position in WK Kellogg Co. (NYSE:KLG - Free Report) by 78.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 71,025 shares of the company's stock after buying an additional 31,316 shares during the quarter. LPL Financial LLC owned approximately 0.08% of WK Kellogg worth $1,416,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of KLG. Ancora Advisors LLC increased its position 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 purchasing an additional 980 shares during the last quarter. Curat Global LLC acquired a new position in shares of WK Kellogg during the 1st quarter worth approximately $66,000. Whittier Trust Co. of Nevada Inc. increased its position in shares of WK Kellogg by 1,030.8% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 3,675 shares of the company's stock worth $73,000 after purchasing an additional 3,350 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of WK Kellogg during the 4th quarter worth approximately $94,000. Finally, Tower Research Capital LLC TRC increased its position in shares of WK Kellogg by 122.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,981 shares of the company's stock worth $144,000 after purchasing an additional 4,393 shares during the last quarter. Institutional investors and hedge funds own 95.74% of the company's stock.

WK Kellogg Stock Performance

Shares of KLG stock traded up $0.01 during trading on Thursday, reaching $23.03. 546,550 shares of the company's stock were exchanged, compared to its average volume of 837,796. The company has a quick ratio of 0.47, a current ratio of 0.99 and a debt-to-equity ratio of 1.97. The stock has a market capitalization of $1.99 billion, a PE ratio of 62.24 and a beta of 0.24. WK Kellogg Co. has a twelve month low of $14.80 and a twelve month high of $23.56. The firm's fifty day moving average price is $21.27 and its 200-day moving average price is $19.34.

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

WK Kellogg Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 29th will be issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Friday, August 29th. WK Kellogg's dividend payout ratio is currently 178.38%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. TD Cowen raised WK Kellogg from a "sell" rating to a "hold" rating and boosted their price target for the stock from $14.00 to $23.00 in a research report on Monday, July 14th. JPMorgan Chase & Co. assumed coverage on WK Kellogg in a research report on Wednesday, August 20th. They set a "neutral" rating and a $23.00 price target on the stock. BNP Paribas set a $23.00 price target on WK Kellogg in a research report on Friday, July 11th. Barclays reaffirmed an "underweight" rating and set a $23.00 price target (up previously from $16.00) on shares of WK Kellogg in a research report on Monday, July 14th. Finally, Cowen raised WK Kellogg from a "sell" rating to a "hold" rating in a report on Friday, July 11th. Seven analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Reduce" and an average target price of $20.88.

WK Kellogg Company 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.