Universal Beteiligungs und Servicegesellschaft mbH Purchases New Shares in WK Kellogg Co (NYSE:KLG)

Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in WK Kellogg Co (NYSE:KLG - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 110,861 shares of the company's stock, valued at approximately $1,994,000. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.13% of WK Kellogg at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of WK Kellogg by 11.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,240,046 shares of the company's stock worth $22,308,000 after buying an additional 127,488 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of WK Kellogg by 1,217.5% during the 4th quarter. Victory Capital Management Inc. now owns 233,997 shares of the company's stock worth $4,210,000 after buying an additional 216,236 shares in the last quarter. Royce & Associates LP boosted its holdings in shares of WK Kellogg by 46.0% during the 4th quarter. Royce & Associates LP now owns 105,134 shares of the company's stock worth $1,891,000 after buying an additional 33,147 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of WK Kellogg during the 4th quarter worth approximately $273,000. Finally, Alberta Investment Management Corp bought a new position in shares of WK Kellogg during the 4th quarter worth approximately $2,022,000. 95.74% of the stock is currently owned by institutional investors.

WK Kellogg Stock Up 0.1%

Shares of KLG traded up $0.02 during trading hours on Friday, reaching $15.67. The stock had a trading volume of 628,670 shares, compared to its average volume of 975,772. WK Kellogg Co has a 12 month low of $14.80 and a 12 month high of $22.21. The firm has a 50-day simple moving average of $18.02 and a 200 day simple moving average of $18.41. The company has a current ratio of 0.74, a quick ratio of 0.32 and a debt-to-equity ratio of 1.45. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of 19.35, a P/E/G ratio of 2.01 and a beta of 0.35.

WK Kellogg (NYSE:KLG - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.41 by ($0.21). WK Kellogg had a return on equity of 39.81% and a net margin of 2.66%. The firm had revenue of $667.00 million during the quarter, compared to the consensus estimate of $677.91 million. During the same quarter in the prior year, the business earned $0.37 earnings per share. WK Kellogg's revenue for the quarter was down 6.2% on a year-over-year basis. Equities research analysts predict that WK Kellogg Co will post 1.57 earnings per share for the current fiscal year.

WK Kellogg Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date is Friday, May 30th. WK Kellogg's dividend payout ratio is currently 103.13%.

Wall Street Analyst Weigh In

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