WK Kellogg Co (NYSE:KLG) Stake Lessened by Stifel Financial Corp

Stifel Financial Corp lessened its holdings in shares of WK Kellogg Co (NYSE:KLG - Free Report) by 51.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,777 shares of the company's stock after selling 14,632 shares during the period. Stifel Financial Corp's holdings in WK Kellogg were worth $248,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Truist Financial Corp increased its stake 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 during the period. Halbert Hargrove Global Advisors LLC purchased a new stake in WK Kellogg during the fourth quarter worth approximately $25,000. Jones Financial Companies Lllp lifted its position in shares of WK Kellogg by 26.9% during the 4th quarter. Jones Financial Companies Lllp now owns 7,813 shares of the company's stock worth $141,000 after buying an additional 1,657 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of 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 purchasing an additional 1,955 shares during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in WK Kellogg during the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 95.74% of the company's stock.

Analyst Ratings Changes

KLG has been the topic of a number of research reports. Stifel Nicolaus lowered their price target on WK Kellogg from $19.00 to $18.00 and set a "hold" rating on the stock in a report on Friday, January 24th. Jefferies Financial Group cut their price objective on shares of WK Kellogg from $19.00 to $16.00 and set a "hold" rating for the company in a research report on Tuesday, January 28th. Finally, Morgan Stanley began 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. Four analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Reduce" and a consensus target price of $16.86.

WK Kellogg Trading Up 1.3%

Shares of WK Kellogg stock traded up $0.24 during mid-day trading on Tuesday, hitting $18.11. 74,590 shares of the stock were exchanged, compared to its average volume of 975,505. WK Kellogg Co has a twelve month low of $14.80 and a twelve month high of $22.21. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of 22.33, a price-to-earnings-growth ratio of 2.01 and a beta of 0.54. The company has a 50-day simple moving average of $18.66 and a 200 day simple moving average of $18.48. 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 results on Tuesday, May 6th. The company reported $0.20 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.21). The business had revenue of $667.00 million for the quarter, compared to analyst estimates of $677.91 million. WK Kellogg had a net margin of 2.66% and a return on equity of 39.81%. The company's quarterly revenue was down 6.2% on a year-over-year basis. During the same period last year, the firm earned $0.37 earnings per share. Research analysts forecast that WK Kellogg Co will post 1.57 EPS for the current year.

WK Kellogg Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.165 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.65%. WK Kellogg's dividend payout ratio is currently 103.13%.

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.