Keybank National Association OH Has $88.61 Million Holdings in WK Kellogg Co (NYSE:KLG)

Keybank National Association OH boosted its stake in shares of WK Kellogg Co (NYSE:KLG - Free Report) by 1.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,925,470 shares of the company's stock after purchasing an additional 52,129 shares during the quarter. Keybank National Association OH owned approximately 5.72% of WK Kellogg worth $88,609,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in KLG. Alberta Investment Management Corp bought a new stake in WK Kellogg in the fourth quarter valued at $2,022,000. Royce & Associates LP increased its holdings in shares of WK Kellogg by 199.8% in the 3rd quarter. Royce & Associates LP now owns 71,987 shares of the company's stock worth $1,232,000 after acquiring an additional 47,973 shares during the period. Barclays PLC boosted its stake in WK Kellogg by 406.6% during the 3rd quarter. Barclays PLC now owns 128,710 shares of the company's stock valued at $2,202,000 after purchasing an additional 103,301 shares during the period. Charles Schwab Investment Management Inc. grew its position in WK Kellogg by 7.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,112,558 shares of the company's stock worth $19,036,000 after purchasing an additional 79,808 shares during the last quarter. Finally, CWA Asset Management Group LLC grew its position in WK Kellogg by 191.9% in the 4th quarter. CWA Asset Management Group LLC now owns 49,010 shares of the company's stock worth $882,000 after purchasing an additional 32,218 shares during the last quarter. 95.74% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Stifel Nicolaus reduced their price objective on WK Kellogg from $19.00 to $18.00 and set a "hold" rating for the company in a research report on Friday, January 24th. Jefferies Financial Group cut their target price on WK Kellogg from $19.00 to $16.00 and set a "hold" rating on the stock in a research note on Tuesday, January 28th. Barclays decreased their price target on 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 cut shares of WK Kellogg from a "hold" rating to a "sell" rating and cut their price objective for the company from $18.00 to $16.00 in a research note on Wednesday, January 8th. Four investment analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $17.88.

WK Kellogg Price Performance

NYSE KLG traded up $0.12 on Wednesday, reaching $19.12. 595,184 shares of the stock traded hands, compared to its average volume of 1,138,414. WK Kellogg Co has a 12 month low of $14.37 and a 12 month high of $24.63. The company has a quick ratio of 0.32, a current ratio of 0.74 and a debt-to-equity ratio of 1.45. The firm's fifty day simple moving average is $17.62 and its 200 day simple moving average is $17.97. The company has a market cap of $1.65 billion, a price-to-earnings ratio of 23.60, a P/E/G ratio of 2.01 and a beta of 0.70.

WK Kellogg (NYSE:KLG - Get Free Report) last announced its earnings results on Tuesday, February 11th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate 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, research analysts predict that WK Kellogg Co will post 1.57 EPS for the current fiscal year.

WK Kellogg Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a $0.165 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.66 annualized dividend and a dividend yield of 3.45%. This is a boost from WK Kellogg's previous quarterly dividend of $0.16. WK Kellogg's payout ratio is currently 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.