Charles Schwab Investment Management Inc. Boosts Stock Position in WK Kellogg Co (NYSE:KLG)

Charles Schwab Investment Management Inc. raised its holdings in shares of WK Kellogg Co (NYSE:KLG - Free Report) by 11.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,240,046 shares of the company's stock after buying an additional 127,488 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.44% of WK Kellogg worth $22,308,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Halbert Hargrove Global Advisors LLC acquired a new position in shares of WK Kellogg during the 4th quarter valued at about $25,000. SBI Securities Co. Ltd. acquired a new position in shares of WK Kellogg during the 4th quarter valued at about $36,000. GAMMA Investing LLC boosted its position in shares of WK Kellogg by 49.4% during 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. Spire Wealth Management acquired a new position in shares of WK Kellogg during the 4th quarter valued at about $56,000. Finally, Transcendent Capital Group LLC lifted its position in WK Kellogg by 9,608.0% in the fourth quarter. Transcendent Capital Group LLC now owns 4,854 shares of the company's stock valued at $87,000 after buying an additional 4,804 shares during the last quarter. Hedge funds and other institutional investors own 95.74% of the company's stock.

WK Kellogg Price Performance

WK Kellogg stock traded up $0.02 during midday trading on Friday, reaching $18.72. The company's stock had a trading volume of 1,483,647 shares, compared to its average volume of 1,006,716. WK Kellogg Co has a fifty-two week low of $15.17 and a fifty-two week high of $24.63. 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 stock's 50 day simple moving average is $18.23 and its 200 day simple moving average is $18.17. The firm has a market capitalization of $1.61 billion, a PE ratio of 23.10, a P/E/G ratio of 2.01 and a beta of 0.30.

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WK Kellogg (NYSE:KLG - Get Free Report) last released its earnings results on Tuesday, February 11th. The company reported $0.42 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, equities research analysts forecast that WK Kellogg Co will post 1.57 earnings per share for the current year.

WK Kellogg Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.165 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.66 dividend on an annualized basis and a yield of 3.53%. This is an increase from WK Kellogg's previous quarterly dividend of $0.16. WK Kellogg's dividend payout ratio (DPR) is 81.48%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on KLG. Barclays reduced their price target on shares of WK Kellogg from $19.00 to $16.00 and set an "underweight" rating on the stock in a research report on Friday, January 17th. TD Cowen lowered shares of WK Kellogg from a "hold" rating to a "sell" rating and dropped their price target for the company from $18.00 to $16.00 in a research note on Wednesday, January 8th. Stifel Nicolaus dropped their price target 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. Finally, 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 note on Tuesday, January 28th. Four equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $17.88.

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.