Amundi Grows Position in WK Kellogg Co (NYSE:KLG)

Amundi grew its position in shares of WK Kellogg Co (NYSE:KLG - Free Report) by 2,471.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 119,068 shares of the company's stock after acquiring an additional 114,437 shares during the quarter. Amundi owned about 0.14% of WK Kellogg worth $2,142,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Truist Financial Corp lifted its position in WK Kellogg by 2.2% during the fourth quarter. Truist Financial Corp now owns 39,658 shares of the company's stock valued at $713,000 after purchasing an additional 838 shares during the last quarter. GAMMA Investing LLC lifted its holdings 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 valued at $51,000 after acquiring an additional 933 shares during the last quarter. Halbert Hargrove Global Advisors LLC purchased a new position in WK Kellogg in the fourth quarter worth about $25,000. Jones Financial Companies Lllp increased 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 worth $141,000 after acquiring an additional 1,657 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its stake 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 last quarter. 95.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on KLG shares. Jefferies Financial Group dropped their target price on WK Kellogg from $19.00 to $16.00 and set a "hold" rating for the company in a report on Tuesday, January 28th. Stifel Nicolaus reduced their target price on shares of WK Kellogg from $19.00 to $18.00 and set a "hold" rating on the stock in a research note on Friday, January 24th. Barclays dropped their price target 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. Finally, TD Cowen downgraded shares of WK Kellogg from a "hold" rating to a "sell" rating and decreased their price objective for the stock from $18.00 to $16.00 in a research note on Wednesday, January 8th. Four research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $17.88.

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WK Kellogg Trading Up 0.1 %

WK Kellogg stock traded up $0.02 during trading hours on Friday, hitting $18.72. The company had a trading volume of 1,466,321 shares, compared to its average volume of 1,006,634. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.32 and a current ratio of 0.74. The firm has a market cap of $1.61 billion, a P/E ratio of 23.10, a P/E/G ratio of 2.01 and a beta of 0.30. The company has a 50-day moving average price of $18.17 and a two-hundred day moving average price of $18.16. WK Kellogg Co has a 1 year low of $15.17 and a 1 year high of $24.63.

WK Kellogg (NYSE:KLG - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.14. WK Kellogg had a return on equity of 39.81% and a net margin of 2.66%. On average, sell-side analysts anticipate that WK Kellogg Co will post 1.57 earnings per share for the current year.

WK Kellogg Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.165 per share. This is an increase from WK Kellogg's previous quarterly dividend of $0.16. The ex-dividend date was Friday, February 28th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.53%. WK Kellogg's dividend payout ratio is presently 81.48%.

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.