Invesco Ltd. Has $17.99 Million Stock Position in WK Kellogg Co (NYSE:KLG)

Invesco Ltd. lessened its stake in WK Kellogg Co (NYSE:KLG - Free Report) by 7.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,000,217 shares of the company's stock after selling 78,217 shares during the period. Invesco Ltd. owned 1.16% of WK Kellogg worth $17,994,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its position in shares of WK Kellogg by 11.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,240,046 shares of the company's stock worth $22,308,000 after acquiring an additional 127,488 shares during the last quarter. Victory Capital Management Inc. grew its holdings in WK Kellogg by 1,217.5% during the 4th quarter. Victory Capital Management Inc. now owns 233,997 shares of the company's stock worth $4,210,000 after acquiring an additional 216,236 shares during the period. Royce & Associates LP lifted its stake in shares of WK Kellogg by 46.0% in the 4th quarter. Royce & Associates LP now owns 105,134 shares of the company's stock valued at $1,891,000 after purchasing an additional 33,147 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of WK Kellogg during the fourth quarter worth $273,000. Finally, Alberta Investment Management Corp bought a new stake in WK Kellogg in the fourth quarter valued at about $2,022,000. Institutional investors and hedge funds own 95.74% of the company's stock.

WK Kellogg Stock Performance

Shares of WK Kellogg stock traded down $0.69 during trading on Monday, hitting $18.84. 781,895 shares of the stock were exchanged, compared to its average volume of 1,003,231. The company has a current ratio of 0.74, a quick ratio of 0.32 and a debt-to-equity ratio of 1.45. The company has a fifty day moving average price of $19.44 and a 200-day moving average price of $18.40. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of 23.26, a price-to-earnings-growth ratio of 2.01 and a beta of 0.39. 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 for the quarter, topping 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%. As a group, equities analysts predict that WK Kellogg Co will post 1.57 EPS for the current fiscal year.

WK Kellogg Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date was Friday, February 28th. This is a boost from WK Kellogg's previous quarterly dividend of $0.16. WK Kellogg's dividend payout ratio is 81.48%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on KLG. Barclays reduced their price objective on WK Kellogg from $19.00 to $16.00 and set an "underweight" rating for the company in a research report on Friday, January 17th. Morgan Stanley assumed coverage on shares of WK Kellogg in a research report on Monday, March 24th. They issued an "underweight" rating and a $18.00 price objective on the stock. Jefferies Financial Group decreased their target price 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. TD Cowen cut shares of WK Kellogg from a "hold" rating to a "sell" rating and cut their price target for the stock from $18.00 to $16.00 in a research report on Wednesday, January 8th. Finally, Stifel Nicolaus reduced their price objective 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. Five investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Reduce" and an average target price of $17.89.

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.