Northern Trust Corp Buys 18,704 Shares of WK Kellogg Co (NYSE:KLG)

Northern Trust Corp lifted its stake in WK Kellogg Co (NYSE:KLG - Free Report) by 2.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 781,592 shares of the company's stock after acquiring an additional 18,704 shares during the period. Northern Trust Corp owned 0.91% of WK Kellogg worth $14,061,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in KLG. Halbert Hargrove Global Advisors LLC acquired a new position in WK Kellogg in the 4th quarter valued at $25,000. SBI Securities Co. Ltd. acquired a new position in WK Kellogg in the 4th quarter valued at $36,000. Wealthfront Advisers LLC acquired a new position in WK Kellogg in the 4th quarter valued at $44,000. Spire Wealth Management acquired a new position in WK Kellogg in the 4th quarter valued at $56,000. Finally, Summit Securities Group LLC acquired a new position in WK Kellogg in the 4th quarter valued at $70,000. 95.74% of the stock is owned by institutional investors.

WK Kellogg Price Performance

Shares of NYSE:KLG opened at $17.95 on Friday. WK Kellogg Co has a 1-year low of $14.80 and a 1-year high of $22.21. The firm has a market capitalization of $1.55 billion, a PE ratio of 22.16, a PEG ratio of 2.01 and a beta of 0.54. The business's 50 day moving average is $18.76 and its 200-day moving average is $18.44. The company has a current ratio of 0.74, a quick ratio of 0.32 and a debt-to-equity ratio of 1.45.

WK Kellogg (NYSE:KLG - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.21). WK Kellogg had a return on equity of 39.81% and a net margin of 2.66%. The firm had revenue of $667.00 million for the quarter, compared to analyst estimates of $677.91 million. During the same period in the previous year, the business posted $0.37 EPS. WK Kellogg's revenue for the quarter was down 6.2% compared to the same quarter last year. Sell-side analysts predict that WK Kellogg Co will post 1.57 earnings per share for the current year.

WK Kellogg Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be given a dividend of $0.165 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.66 annualized dividend and a dividend yield of 3.68%. WK Kellogg's dividend payout ratio (DPR) is presently 103.13%.

Analysts Set New Price Targets

A number of analysts have issued reports on KLG shares. Stifel Nicolaus lowered their target price on WK Kellogg from $19.00 to $18.00 and set a "hold" rating on the stock in a report on Friday, January 24th. Morgan Stanley started coverage on WK Kellogg in a report on Monday, March 24th. They issued an "underweight" rating and a $18.00 target price on the stock. Barclays lowered 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. Finally, Jefferies Financial Group lowered their target price on WK Kellogg from $19.00 to $16.00 and set a "hold" rating on the stock in a report on Tuesday, January 28th. Four research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to data from MarketBeat, WK Kellogg currently has a consensus rating of "Reduce" and a consensus target price of $16.86.

WK Kellogg 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.

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