First Trust Advisors LP Has $2.65 Million Stake in WK Kellogg Co (NYSE:KLG)

First Trust Advisors LP lifted its holdings in shares of WK Kellogg Co (NYSE:KLG - Free Report) by 15.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 147,285 shares of the company's stock after buying an additional 19,591 shares during the period. First Trust Advisors LP owned approximately 0.17% of WK Kellogg worth $2,650,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Truist Financial Corp raised its holdings in WK Kellogg by 2.2% during the fourth quarter. Truist Financial Corp now owns 39,658 shares of the company's stock worth $713,000 after purchasing an additional 838 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of WK Kellogg by 49.4% in the 4th quarter. GAMMA Investing LLC now owns 2,823 shares of the company's stock worth $51,000 after buying an additional 933 shares in the last quarter. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of WK Kellogg in the fourth quarter valued at $25,000. Jones Financial Companies Lllp boosted its stake in WK Kellogg by 26.9% during the fourth quarter. Jones Financial Companies Lllp now owns 7,813 shares of the company's stock valued at $141,000 after buying an additional 1,657 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its holdings in WK Kellogg by 13.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 16,818 shares of the company's stock worth $303,000 after acquiring an additional 1,955 shares during the period. 95.74% of the stock is owned by institutional investors.

WK Kellogg Stock Down 3.9 %

NYSE:KLG traded down $0.71 during trading hours on Wednesday, hitting $17.23. 1,820,359 shares of the company's stock traded hands, compared to its average volume of 993,668. The stock's fifty day moving average price is $19.09 and its two-hundred day moving average price is $18.44. The firm has a market cap of $1.48 billion, a P/E ratio of 21.27, a P/E/G ratio of 2.01 and a beta of 0.54. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.32 and a current ratio of 0.74. WK Kellogg Co has a twelve month low of $14.80 and a twelve month high of $23.85.

WK Kellogg (NYSE:KLG - Get Free Report) last posted 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 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 analysts' expectations of $677.91 million. During the same period last year, the company earned $0.37 earnings per share. WK Kellogg's revenue for the quarter was down 6.2% compared to the same quarter last year. On average, research analysts expect that WK Kellogg Co will post 1.57 earnings per share for the current fiscal year.

WK Kellogg Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 3.83%. The ex-dividend date of this dividend is Friday, May 30th. WK Kellogg's dividend payout ratio is currently 81.48%.

Analyst Ratings Changes

KLG has been the subject of a number of research analyst reports. Barclays cut their price target on shares of WK Kellogg from $19.00 to $16.00 and set an "underweight" rating for the company in a report on Friday, January 17th. Jefferies Financial Group decreased their price target on shares of WK Kellogg from $19.00 to $16.00 and set a "hold" rating on the stock in a research report on Tuesday, January 28th. Stifel Nicolaus cut their price objective on WK Kellogg from $19.00 to $18.00 and set a "hold" rating for the company in a research report on Friday, January 24th. Morgan Stanley began 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. Finally, TD Cowen lowered WK Kellogg from a "hold" rating to a "sell" rating and cut their target price for the stock from $18.00 to $16.00 in a research report on Wednesday, January 8th. Five analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat.com, WK Kellogg currently has an average rating of "Reduce" and a consensus target price of $17.89.

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.