Invesco Ltd. Has $17.99 Million Stock Holdings in WK Kellogg Co (NYSE:KLG)

Invesco Ltd. decreased its stake in WK Kellogg Co (NYSE:KLG - Free Report) by 7.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,000,217 shares of the company's stock after selling 78,217 shares during the period. Invesco Ltd. owned 1.16% of WK Kellogg worth $17,994,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Halbert Hargrove Global Advisors LLC bought a new position in WK Kellogg in the fourth quarter valued at approximately $25,000. SBI Securities Co. Ltd. bought a new position in shares of WK Kellogg in the fourth quarter valued at $36,000. Wealthfront Advisers LLC bought a new stake in WK Kellogg during the fourth quarter worth $44,000. GAMMA Investing LLC lifted its stake in WK Kellogg by 49.4% in the fourth quarter. GAMMA Investing LLC now owns 2,823 shares of the company's stock valued at $51,000 after acquiring an additional 933 shares during the last quarter. Finally, Spire Wealth Management acquired a new stake in WK Kellogg in the fourth quarter valued at $56,000. Institutional investors and hedge funds own 95.74% of the company's stock.

WK Kellogg Stock Performance

NYSE:KLG traded down $0.24 during mid-day trading on Thursday, reaching $18.35. 99,802 shares of the company's stock were exchanged, compared to its average volume of 995,878. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.32 and a current ratio of 0.74. The firm has a market capitalization of $1.58 billion, a PE ratio of 22.67, a price-to-earnings-growth ratio of 2.01 and a beta of 0.39. WK Kellogg Co has a one year low of $15.17 and a one year high of $24.63. The business's fifty day simple moving average is $19.45 and its two-hundred day simple moving average is $18.41.

WK Kellogg (NYSE:KLG - Get Free Report) last announced its earnings results on Tuesday, February 11th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.28 by $0.14. WK Kellogg had a net margin of 2.66% and a return on equity of 39.81%. Analysts anticipate that WK Kellogg Co will post 1.57 earnings per share for the current fiscal year.

WK Kellogg Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a dividend of $0.165 per share. This is a positive change from WK Kellogg's previous quarterly dividend of $0.16. This represents a $0.66 annualized dividend and a dividend yield of 3.60%. The ex-dividend date was Friday, February 28th. WK Kellogg's dividend payout ratio is 81.48%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley initiated coverage on shares of WK Kellogg in a report on Monday, March 24th. They issued an "underweight" rating and a $18.00 target price on the stock. Barclays decreased their target price on WK Kellogg from $19.00 to $16.00 and set an "underweight" rating on the stock in a report on Friday, January 17th. TD Cowen downgraded WK Kellogg from a "hold" rating to a "sell" rating and cut their price target for the company from $18.00 to $16.00 in a report on Wednesday, January 8th. Stifel Nicolaus decreased their price objective on shares of WK Kellogg from $19.00 to $18.00 and set a "hold" rating on the stock in a report on Friday, January 24th. Finally, Jefferies Financial Group cut their target price on shares of WK Kellogg from $19.00 to $16.00 and set a "hold" rating for the company in a research note on Tuesday, January 28th. Five research analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Reduce" and an average target price of $17.89.

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.