41,886 Shares in WK Kellogg Co (NYSE:KLG) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new stake in shares of WK Kellogg Co (NYSE:KLG - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 41,886 shares of the company's stock, valued at approximately $754,000.

Other large investors also recently modified their holdings of the company. Barclays PLC lifted its holdings in WK Kellogg by 406.6% in the 3rd quarter. Barclays PLC now owns 128,710 shares of the company's stock worth $2,202,000 after buying an additional 103,301 shares during the period. Franklin Resources Inc. raised its holdings in shares of WK Kellogg by 13.3% during the third quarter. Franklin Resources Inc. now owns 170,161 shares of the company's stock valued at $3,010,000 after acquiring an additional 20,033 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in WK Kellogg by 69.1% in the third quarter. JPMorgan Chase & Co. now owns 313,182 shares of the company's stock worth $5,359,000 after acquiring an additional 127,984 shares during the period. GAMMA Investing LLC boosted its holdings 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 in the last quarter. Finally, Nordea Investment Management AB increased its position in WK Kellogg by 11.1% during the 4th quarter. Nordea Investment Management AB now owns 61,249 shares of the company's stock valued at $1,109,000 after purchasing an additional 6,135 shares during the period. 95.74% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Stifel Nicolaus dropped their target price on shares of WK Kellogg from $19.00 to $18.00 and set a "hold" rating for the company in a research report on Friday, January 24th. Jefferies Financial Group cut their price objective on WK Kellogg from $19.00 to $16.00 and set a "hold" rating on the stock in a research report on Tuesday, January 28th. Morgan Stanley started coverage on WK Kellogg in a research report on Monday, March 24th. They issued an "underweight" rating and a $18.00 target price for the company. Finally, Barclays lowered their target price on WK Kellogg from $19.00 to $16.00 and set an "underweight" rating for the company in a research note on Friday, January 17th. Four investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and an average price target of $16.86.

WK Kellogg Stock Down 0.6 %

Shares of KLG stock traded down $0.11 during trading hours on Friday, hitting $17.02. 683,258 shares of the company's stock traded hands, compared to its average volume of 988,212. The company has a quick ratio of 0.32, a current ratio of 0.74 and a debt-to-equity ratio of 1.45. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of 21.01, a PEG ratio of 2.01 and a beta of 0.54. The stock's fifty day simple moving average is $18.95 and its two-hundred day simple moving average is $18.43. WK Kellogg Co has a 12-month low of $14.80 and a 12-month high of $22.60.

WK Kellogg (NYSE:KLG - Get Free Report) last released its 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 return on equity of 39.81% and a net margin of 2.66%. The company had revenue of $667.00 million during the quarter, compared to the consensus estimate of $677.91 million. During the same period last year, the firm posted $0.37 earnings per share. The company's revenue was down 6.2% compared to the same quarter last year. On average, analysts expect that WK Kellogg Co will post 1.57 EPS for the current year.

WK Kellogg Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be issued a $0.165 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.66 annualized dividend and a yield of 3.88%. WK Kellogg's dividend payout ratio (DPR) is presently 81.48%.

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.