Principal Financial Group Inc. Invests $4.46 Million in WK Kellogg Co (NYSE:KLG)

Principal Financial Group Inc. bought a new position in WK Kellogg Co (NYSE:KLG - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 339,508 shares of the company's stock, valued at approximately $4,461,000. Principal Financial Group Inc. owned about 0.40% of WK Kellogg at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Lincoln Capital Corp purchased a new stake in shares of WK Kellogg in the 4th quarter worth about $1,026,000. Nordea Investment Management AB bought a new stake in WK Kellogg during the 4th quarter valued at approximately $2,119,000. Inlet Private Wealth LLC bought a new stake in WK Kellogg during the 4th quarter valued at approximately $4,038,000. Oak Thistle LLC purchased a new position in shares of WK Kellogg during the 4th quarter worth approximately $1,721,000. Finally, London & Capital Asset Management Ltd bought a new position in shares of WK Kellogg in the 4th quarter worth approximately $10,363,000. Hedge funds and other institutional investors own 95.74% of the company's stock.

WK Kellogg Stock Up 0.8 %

KLG stock traded up $0.15 during midday trading on Friday, hitting $18.99. The company's stock had a trading volume of 1,155,352 shares, compared to its average volume of 1,114,458. The firm's 50-day moving average is $21.10 and its 200-day moving average is $16.03. WK Kellogg Co has a 12 month low of $9.65 and a 12 month high of $24.63. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.43 and a current ratio of 0.84.

WK Kellogg (NYSE:KLG - Get Free Report) last issued its earnings results on Tuesday, May 7th. The company reported $0.37 earnings per share for the quarter, hitting analysts' consensus estimates of $0.37. The business had revenue of $707.00 million during the quarter, compared to analysts' expectations of $697.83 million. WK Kellogg's revenue for the quarter was down .7% on a year-over-year basis. On average, equities research analysts expect that WK Kellogg Co will post 1.55 EPS for the current fiscal year.

WK Kellogg Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 3.37%. The ex-dividend date of this dividend is Friday, May 31st.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on KLG. Evercore ISI upped their price target on WK Kellogg from $21.00 to $23.00 and gave the stock an "in-line" rating in a research note on Wednesday, May 8th. Barclays increased their price target on shares of WK Kellogg from $15.00 to $19.00 and gave the stock an "underweight" rating in a research note on Thursday, May 9th. TD Cowen lifted their price target on shares of WK Kellogg from $13.00 to $24.00 and gave the company a "hold" rating in a research report on Wednesday, May 8th. BNP Paribas cut shares of WK Kellogg from a "neutral" rating to an "underperform" rating and set a $20.00 price objective on the stock. in a report on Wednesday, May 8th. Finally, Stifel Nicolaus lifted their target price on shares of WK Kellogg from $20.00 to $22.00 and gave the company a "hold" rating in a report on Wednesday, May 8th. Three research analysts have rated the stock with a sell rating and seven have given a hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $16.95.

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.