WK Kellogg Co. $KLG Shares Sold by US Bancorp DE

Key Points

• US Bancorp DE significantly reduced its stake in WK Kellogg Co. by 92% during the first quarter, now owning only 1,960 shares valued at $39,000.
• Several institutional investors, including Ancora Advisors LLC and Whittier Trust Co., increased their positions in WK Kellogg, indicating a mixed interest among investors.
• WK Kellogg's recent earnings report showed an EPS of $0.25, falling short of estimates, with revenue down 8.8% year-over-year, leading to a consensus rating of "Reduce" among analysts.

US Bancorp DE reduced its stake in shares of WK Kellogg Co. (NYSE:KLG - Free Report) by 92.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,960 shares of the company's stock after selling 22,522 shares during the quarter. US Bancorp DE's holdings in WK Kellogg were worth $39,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ancora Advisors LLC grew its position 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. Curat Global LLC acquired a new position in WK Kellogg during the first quarter worth about $66,000. Whittier Trust Co. of Nevada Inc. grew its position in WK Kellogg by 1,030.8% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 3,675 shares of the company's stock worth $73,000 after buying an additional 3,350 shares during the period. Canada Pension Plan Investment Board purchased a new stake in shares of WK Kellogg in the fourth quarter valued at about $94,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of WK Kellogg by 122.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,981 shares of the company's stock valued at $144,000 after purchasing an additional 4,393 shares in the last quarter. 95.74% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

KLG has been the topic of several recent research reports. Evercore ISI upped their price target on shares of WK Kellogg from $19.00 to $23.00 and gave the company an "in-line" rating in a report on Friday, July 11th. TD Cowen raised shares of WK Kellogg from a "sell" rating to a "hold" rating and upped their price target for the company from $14.00 to $23.00 in a report on Monday, July 14th. Cowen raised shares of WK Kellogg from a "sell" rating to a "hold" rating in a report on Friday, July 11th. BNP Paribas set a $23.00 price target on shares of WK Kellogg in a report on Friday, July 11th. Finally, Barclays reaffirmed an "underweight" rating and issued a $23.00 price target (up previously from $16.00) on shares of WK Kellogg in a report on Monday, July 14th. Six equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and an average target price of $20.57.

WK Kellogg Stock Performance

Shares of KLG opened at $22.9750 on Wednesday. WK Kellogg Co. has a 1 year low of $14.80 and a 1 year high of $23.56. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.47 and a current ratio of 0.99. The company's 50 day simple moving average is $20.24 and its 200 day simple moving average is $19.03. The company has a market capitalization of $1.99 billion, a price-to-earnings ratio of 62.09 and a beta of 0.24.

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

WK Kellogg Announces Dividend

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

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.

Want to see what other hedge funds are holding KLG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WK Kellogg Co. (NYSE:KLG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.