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 lowered its position in shares of WK Kellogg Co. (NYSE:KLG - Free Report) by 92.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of KLG. Ancora Advisors LLC raised 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 valued at $27,000 after buying an additional 980 shares in the last quarter. Curat Global LLC acquired a new stake in WK Kellogg during the first quarter valued at approximately $66,000. Whittier Trust Co. of Nevada Inc. raised its stake 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 valued at $73,000 after buying an additional 3,350 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in WK Kellogg during the fourth quarter valued at approximately $94,000. Finally, Tower Research Capital LLC TRC raised its stake in WK Kellogg by 122.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,981 shares of the company's stock valued at $144,000 after buying an additional 4,393 shares in the last quarter. Institutional investors and hedge funds own 95.74% of the company's stock.

WK Kellogg Stock Performance

Shares of WK Kellogg stock traded up $0.0050 on Friday, reaching $22.9950. 646,712 shares of the company were exchanged, compared to its average volume of 820,180. 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 moving average is $20.68 and its two-hundred day moving average is $19.19. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of 62.15 and a beta of 0.24. WK Kellogg Co. has a 1-year low of $14.80 and a 1-year high of $23.56.

WK Kellogg (NYSE:KLG - Get Free Report) last posted its 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 net margin of 1.31% and a return on equity of 31.34%. The business had revenue of $611.52 million during the quarter, compared to analyst estimates of $653.36 million. During the same quarter in the prior year, the business earned $0.36 earnings per share. The firm's revenue was down 8.8% compared to the same quarter last year. As a group, research analysts expect that WK Kellogg Co. will post 1.57 earnings per share for the current fiscal year.

WK Kellogg Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Wall Street Zen upgraded WK Kellogg from a "sell" rating to a "hold" rating in a research note on Sunday, July 13th. JPMorgan Chase & Co. began coverage on WK Kellogg in a research note on Wednesday. They set a "neutral" rating and a $23.00 price objective on the stock. Cowen upgraded WK Kellogg from a "sell" rating to a "hold" rating in a research report on Friday, July 11th. Evercore ISI increased their price target on WK Kellogg from $19.00 to $23.00 and gave the stock an "in-line" rating in a research report on Friday, July 11th. Finally, Barclays reiterated an "underweight" rating and set a $23.00 price target (up from $16.00) on shares of WK Kellogg in a research report on Monday, July 14th. Seven analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Reduce" and an average target price of $20.88.

About WK Kellogg

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.