Vanguard Group Inc. Has $112.41 Million Stock Holdings in WK Kellogg Co. $KLG

Key Points

• Vanguard Group Inc. increased its stake in WK Kellogg Co. by 4.6% in Q1, now owning 6.54% of the company with shares worth $112.4 million.
• WK Kellogg's recent earnings report showed a loss of $0.03 per share compared to analyst estimates, with a revenue decline of 8.8% year-over-year.
• The company announced a quarterly dividend of $0.165 per share, resulting in a dividend yield of 2.9%, with a payout ratio of 178.38%.

Vanguard Group Inc. lifted its position in shares of WK Kellogg Co. (NYSE:KLG - Free Report) by 4.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,640,453 shares of the company's stock after acquiring an additional 245,555 shares during the quarter. Vanguard Group Inc. owned 6.54% of WK Kellogg worth $112,414,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of KLG. Ancora Advisors LLC raised 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 purchased a new stake in WK Kellogg during the 1st quarter valued at about $66,000. Whittier Trust Co. of Nevada Inc. grew its stake in 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 valued at $73,000 after acquiring an additional 3,350 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in WK Kellogg in the 4th quarter valued at about $94,000. Finally, Tower Research Capital LLC TRC boosted its holdings in WK Kellogg by 122.4% in the 4th 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 during the last quarter. 95.74% of the stock is owned by hedge funds and other institutional investors.

WK Kellogg Stock Performance

Shares of NYSE:KLG traded up $0.06 on Wednesday, hitting $23.06. The company's stock had a trading volume of 257,757 shares, compared to its average volume of 1,295,218. The stock's 50-day moving average is $20.97 and its two-hundred day moving average is $19.26. The company has a market capitalization of $1.99 billion, a price-to-earnings ratio of 62.31 and a beta of 0.24. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.47 and a current ratio of 0.99. WK Kellogg Co. has a 12 month low of $14.80 and a 12 month high of $23.56.

WK Kellogg (NYSE:KLG - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 firm earned $0.36 earnings per share. The firm's revenue for the quarter was down 8.8% on a year-over-year basis. On average, equities research analysts forecast that WK Kellogg Co. will post 1.57 EPS for the current year.

WK Kellogg Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.165 per share. 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 178.38%.

Analyst Upgrades and Downgrades

KLG has been the topic of a number of research analyst reports. TD Cowen raised shares of WK Kellogg from a "sell" rating to a "hold" rating and boosted their price target for the company from $14.00 to $23.00 in a research note on Monday, July 14th. Evercore ISI raised their price objective on shares of WK Kellogg from $19.00 to $23.00 and gave the stock an "in-line" rating in a report on Friday, July 11th. JPMorgan Chase & Co. started coverage on shares of WK Kellogg in a report on Wednesday, August 20th. They set a "neutral" rating and a $23.00 price objective on the stock. Cowen upgraded shares of WK Kellogg from a "sell" rating to a "hold" rating in a research report on Friday, July 11th. Finally, BNP Paribas set a $23.00 target price on shares of WK Kellogg in a research report on Friday, July 11th. Seven investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, WK Kellogg has an average rating of "Reduce" and an average price target 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.