WK Kellogg Co (NYSE:KLG) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its holdings in WK Kellogg Co (NYSE:KLG - Free Report) by 54.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 137,810 shares of the company's stock after selling 167,248 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.16% of WK Kellogg worth $2,479,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Halbert Hargrove Global Advisors LLC acquired a new stake in WK Kellogg during the fourth quarter worth approximately $25,000. Ancora Advisors LLC grew its stake in WK Kellogg by 181.8% during the fourth quarter. Ancora Advisors LLC now owns 1,519 shares of the company's stock worth $27,000 after buying an additional 980 shares during the period. SBI Securities Co. Ltd. acquired a new stake in WK Kellogg in the 4th quarter valued at $36,000. Wealthfront Advisers LLC acquired a new stake in shares of WK Kellogg in the fourth quarter valued at about $44,000. Finally, Spire Wealth Management acquired a new position in shares of WK Kellogg during the fourth quarter worth $56,000. Institutional investors and hedge funds own 95.74% of the company's stock.

WK Kellogg Stock Up 0.5%

KLG stock traded up $0.08 during mid-day trading on Tuesday, hitting $16.01. 670,344 shares of the company were exchanged, compared to its average volume of 975,902. The firm has a fifty day simple moving average of $17.84 and a 200 day simple moving average of $18.39. The company has a market capitalization of $1.38 billion, a PE ratio of 19.76, a price-to-earnings-growth ratio of 2.01 and a beta of 0.35. WK Kellogg Co has a twelve month low of $14.80 and a twelve month high of $22.21. The company has a current ratio of 0.74, a quick ratio of 0.32 and a debt-to-equity ratio of 1.45.

WK Kellogg (NYSE:KLG - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.21). The company 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 39.81% and a net margin of 2.66%. The business's revenue for the quarter was down 6.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.37 EPS. 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 company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date is Friday, May 30th. WK Kellogg's dividend payout ratio is presently 103.13%.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley started coverage on WK Kellogg in a research report on Monday, March 24th. They set an "underweight" rating and a $18.00 target price on the stock. Four research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat.com, WK Kellogg has a consensus rating of "Reduce" and a consensus price target 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.