American Century Companies Inc. Has $37.29 Million Stock Holdings in WK Kellogg Co (NYSE:KLG)

American Century Companies Inc. lowered its position in shares of WK Kellogg Co (NYSE:KLG - Free Report) by 14.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,265,617 shares of the company's stock after selling 391,927 shares during the quarter. American Century Companies Inc. owned about 2.64% of WK Kellogg worth $37,292,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of KLG. Kellogg W K Foundation Trust acquired a new stake in shares of WK Kellogg during the 4th quarter worth approximately $177,458,000. Bank of New York Mellon Corp grew its holdings in shares of WK Kellogg by 9.3% during the second quarter. Bank of New York Mellon Corp now owns 904,699 shares of the company's stock valued at $14,891,000 after buying an additional 77,262 shares in the last quarter. Rodgers Brothers Inc. grew its holdings in shares of WK Kellogg by 2,253.3% during the first quarter. Rodgers Brothers Inc. now owns 623,468 shares of the company's stock valued at $11,721,000 after buying an additional 596,975 shares in the last quarter. Jupiter Asset Management Ltd. grew its holdings in shares of WK Kellogg by 1,876.1% during the first quarter. Jupiter Asset Management Ltd. now owns 531,108 shares of the company's stock valued at $9,985,000 after buying an additional 504,232 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new position in shares of WK Kellogg during the first quarter valued at $8,998,000. Institutional investors and hedge funds own 95.74% of the company's stock.

WK Kellogg Trading Down 0.4 %

NYSE:KLG traded down $0.07 on Wednesday, hitting $18.12. 568,943 shares of the stock were exchanged, compared to its average volume of 1,091,485. The stock has a market capitalization of $1.56 billion and a price-to-earnings ratio of 12.00. WK Kellogg Co has a 52 week low of $9.65 and a 52 week high of $24.63. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.36 and a current ratio of 0.83. The company's 50-day moving average price is $17.18 and its 200 day moving average price is $18.47.

WK Kellogg (NYSE:KLG - Get Free Report) last posted its earnings results on Tuesday, August 6th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.06). The company had revenue of $672.00 million for the quarter, compared to analyst estimates of $671.50 million. WK Kellogg had a return on equity of 42.12% and a net margin of 4.45%. The business's quarterly revenue was down 4.0% on a year-over-year basis. On average, equities research analysts forecast that WK Kellogg Co will post 1.5 earnings per share for the current year.

WK Kellogg Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 29th were given a dividend of $0.16 per share. The ex-dividend date was Thursday, August 29th. This represents a $0.64 annualized dividend and a dividend yield of 3.53%. WK Kellogg's payout ratio is currently 42.38%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Bank of America cut WK Kellogg from a "neutral" rating to an "underperform" rating and reduced their price target for the stock from $24.00 to $17.00 in a research report on Wednesday, July 10th. Barclays decreased 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 note on Friday, July 19th. JPMorgan Chase & Co. decreased their price target on shares of WK Kellogg from $22.00 to $17.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 7th. Finally, Stifel Nicolaus cut their price objective on WK Kellogg from $22.00 to $18.00 and set a "hold" rating for the company in a report on Tuesday, July 23rd. Four equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $17.40.

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.