Massachusetts Financial Services Co. MA Has $661,000 Stock Holdings in WK Kellogg Co. (NYSE:KLG)

Massachusetts Financial Services Co. MA lessened its stake in WK Kellogg Co. (NYSE:KLG - Free Report) by 95.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,170 shares of the company's stock after selling 673,403 shares during the period. Massachusetts Financial Services Co. MA's holdings in WK Kellogg were worth $661,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd purchased a new stake in WK Kellogg in the fourth quarter worth $273,000. Cambridge Investment Research Advisors Inc. lifted its position in WK Kellogg by 7.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 10,757 shares of the company's stock valued at $214,000 after acquiring an additional 733 shares during the period. Exchange Traded Concepts LLC bought a new stake in WK Kellogg during the first quarter worth about $1,892,000. Oppenheimer & Co. Inc. grew its holdings in WK Kellogg by 110.6% in the first quarter. Oppenheimer & Co. Inc. now owns 26,994 shares of the company's stock worth $538,000 after purchasing an additional 14,175 shares during the period. Finally, XTX Topco Ltd bought a new position in shares of WK Kellogg during the fourth quarter valued at approximately $416,000. 95.74% of the stock is currently owned by institutional investors.

WK Kellogg Trading Up 0.5%

Shares of KLG traded up $0.11 during midday trading on Tuesday, hitting $23.41. The stock had a trading volume of 1,656,906 shares, compared to its average volume of 1,383,394. The business has a 50-day simple moving average of $17.54 and a two-hundred day simple moving average of $18.04. WK Kellogg Co. has a fifty-two week low of $14.80 and a fifty-two week high of $23.56. The company has a current ratio of 0.78, a quick ratio of 0.34 and a debt-to-equity ratio of 1.54. The firm has a market cap of $2.02 billion, a P/E ratio of 36.57 and a beta of 0.23.

WK Kellogg (NYSE:KLG - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.20 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $677.91 million. During the same period last year, the company earned $0.37 EPS. The company's revenue was down 6.2% on a year-over-year basis. As a group, equities analysts forecast that WK Kellogg Co. will post 1.57 EPS for the current year.

WK Kellogg Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend was Friday, May 30th. WK Kellogg's payout ratio is 103.13%.

Analysts Set New Price Targets

KLG has been the subject of a number of research analyst reports. Wall Street Zen raised WK Kellogg from a "sell" rating to a "hold" rating in a research note on Sunday, July 13th. TD Cowen upgraded shares of WK Kellogg from a "sell" rating to a "hold" rating and boosted their price objective for the stock from $14.00 to $23.00 in a research note on Monday, July 14th. Morgan Stanley began coverage on shares of WK Kellogg in a research note on Monday, March 24th. They set an "underweight" rating and a $18.00 price target on the stock. BNP Paribas set a $23.00 price objective on shares of WK Kellogg in a research note on Friday, July 11th. Finally, Barclays reissued an "underweight" rating and issued a $23.00 price objective (up from $16.00) on shares of WK Kellogg in a report on Monday, July 14th. Two investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $20.13.

WK Kellogg Company 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.