WK Kellogg Co (NYSE:KLG) Shares Sold by Stifel Financial Corp

Stifel Financial Corp lowered its holdings in WK Kellogg Co (NYSE:KLG - Free Report) by 51.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,777 shares of the company's stock after selling 14,632 shares during the quarter. Stifel Financial Corp's holdings in WK Kellogg were worth $248,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in KLG. Tower Research Capital LLC TRC grew its position in WK Kellogg by 122.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,981 shares of the company's stock valued at $144,000 after buying an additional 4,393 shares during the period. MetLife Investment Management LLC grew its position in WK Kellogg by 5.9% during the fourth quarter. MetLife Investment Management LLC now owns 40,511 shares of the company's stock valued at $729,000 after buying an additional 2,249 shares during the period. Dimensional Fund Advisors LP grew its position in WK Kellogg by 11.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 474,136 shares of the company's stock valued at $8,529,000 after buying an additional 49,798 shares during the period. First Trust Advisors LP grew its position in WK Kellogg by 15.3% during the fourth quarter. First Trust Advisors LP now owns 147,285 shares of the company's stock valued at $2,650,000 after buying an additional 19,591 shares during the period. Finally, Capital International Investors grew its position in WK Kellogg by 149.8% during the fourth quarter. Capital International Investors now owns 4,186,763 shares of the company's stock valued at $75,320,000 after buying an additional 2,510,779 shares during the period. Institutional investors and hedge funds own 95.74% of the company's stock.

WK Kellogg Stock Performance

NYSE:KLG opened at $17.43 on Thursday. The company's 50-day moving average is $18.84 and its two-hundred day moving average is $18.44. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of 21.52, a PEG ratio of 2.01 and a beta of 0.54. WK Kellogg Co has a 1-year low of $14.80 and a 1-year high of $22.21. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.74 and a quick ratio of 0.32.

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

WK Kellogg Dividend Announcement

The firm 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 dividend of $0.165 per share. The ex-dividend date is Friday, May 30th. This represents a $0.66 dividend on an annualized basis and a yield of 3.79%. WK Kellogg's dividend payout ratio (DPR) is presently 103.13%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on KLG shares. Jefferies Financial Group dropped 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 target price on shares of WK Kellogg from $19.00 to $18.00 and set a "hold" rating for the company in a research note on Friday, January 24th. Morgan Stanley initiated coverage on shares of WK Kellogg in a research note on Monday, March 24th. They set an "underweight" rating and a $18.00 target price for the company. Finally, Barclays cut their target price on shares of 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 equities 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, the company presently has a consensus rating of "Reduce" and a consensus price target 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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