WK Kellogg Co. (NYSE:KLG) Holdings Lifted by Royce & Associates LP

Royce & Associates LP grew its position in WK Kellogg Co. (NYSE:KLG - Free Report) by 34.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 140,895 shares of the company's stock after purchasing an additional 35,761 shares during the period. Royce & Associates LP owned approximately 0.16% of WK Kellogg worth $2,808,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of KLG. Raymond James Financial Inc. acquired a new position in WK Kellogg during the 4th quarter valued at about $754,000. American Century Companies Inc. increased its stake in WK Kellogg by 9.1% during the 4th quarter. American Century Companies Inc. now owns 1,516,717 shares of the company's stock valued at $27,286,000 after buying an additional 126,793 shares during the period. KLP Kapitalforvaltning AS acquired a new position in WK Kellogg during the 4th quarter valued at about $227,000. LPL Financial LLC increased its stake in WK Kellogg by 33.3% during the 4th quarter. LPL Financial LLC now owns 39,709 shares of the company's stock valued at $714,000 after buying an additional 9,921 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp increased its stake in WK Kellogg by 5.4% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 39,822 shares of the company's stock valued at $716,000 after buying an additional 2,032 shares during the period. Institutional investors and hedge funds own 95.74% of the company's stock.

WK Kellogg Stock Performance

Shares of KLG opened at $23.14 on Monday. The firm's 50 day moving average is $18.09 and its 200-day moving average is $18.25. The stock has a market capitalization of $2.00 billion, a P/E ratio of 36.15 and a beta of 0.23. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.78 and a quick ratio of 0.34. 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 released its quarterly 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 net margin of 2.14% and a return on equity of 34.88%. The firm had revenue of $667.00 million for the quarter, compared to analyst estimates of $677.91 million. During the same quarter in the prior year, the firm earned $0.37 EPS. The firm's revenue was down 6.2% compared to the same quarter last year. Equities research analysts anticipate that WK Kellogg Co. will post 1.57 EPS for the current fiscal year.

WK Kellogg Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were issued a dividend of $0.165 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.85%. WK Kellogg's dividend payout ratio is currently 103.13%.

Wall Street Analyst Weigh In

KLG has been the topic of several research analyst reports. Barclays reissued an "underweight" rating and set a $23.00 target price (up previously from $16.00) on shares of WK Kellogg in a research note on Monday, July 14th. Cowen raised shares of WK Kellogg from a "sell" rating to a "hold" rating in a research note on Friday, July 11th. BNP Paribas set a $23.00 price objective on shares of WK Kellogg in a research note on Friday, July 11th. Wall Street Zen raised shares of WK Kellogg from a "sell" rating to a "hold" rating in a research note on Sunday, July 13th. Finally, TD Cowen raised shares of WK Kellogg from a "sell" rating to a "hold" rating and lifted their price objective for the stock from $14.00 to $23.00 in a research note on Monday, July 14th. Two equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $20.13.

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.

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.