WK Kellogg Co (NYSE:KLG) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lowered its stake in shares of WK Kellogg Co (NYSE:KLG - Free Report) by 1.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,394,898 shares of the company's stock after selling 88,175 shares during the quarter. Vanguard Group Inc. owned about 6.26% of WK Kellogg worth $97,054,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Keybank National Association OH grew its stake in shares of WK Kellogg by 1.1% in the 4th quarter. Keybank National Association OH now owns 4,925,470 shares of the company's stock valued at $88,609,000 after purchasing an additional 52,129 shares during the last quarter. Jupiter Asset Management Ltd. lifted its holdings in shares of WK Kellogg by 172.9% during the fourth quarter. Jupiter Asset Management Ltd. now owns 2,494,881 shares of the company's stock worth $44,883,000 after purchasing an additional 1,580,704 shares during the period. American Century Companies Inc. grew its position in WK Kellogg by 9.1% in the 4th quarter. American Century Companies Inc. now owns 1,516,717 shares of the company's stock valued at $27,286,000 after buying an additional 126,793 shares during the last quarter. Geode Capital Management LLC increased its stake in WK Kellogg by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,507,713 shares of the company's stock valued at $25,802,000 after buying an additional 38,939 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in WK Kellogg by 11.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,240,046 shares of the company's stock worth $22,308,000 after buying an additional 127,488 shares during the last quarter. Institutional investors and hedge funds own 95.74% of the company's stock.

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Wall Street Analyst Weigh In

Several analysts have recently weighed in on KLG shares. TD Cowen downgraded shares of WK Kellogg from a "hold" rating to a "sell" rating and lowered their target price for the company from $18.00 to $16.00 in a report on Wednesday, January 8th. Jefferies Financial Group dropped their target price on WK Kellogg from $19.00 to $16.00 and set a "hold" rating on the stock in a research report on Tuesday, January 28th. Morgan Stanley assumed coverage on WK Kellogg in a research note on Monday, March 24th. They set an "underweight" rating and a $18.00 target price for the company. Stifel Nicolaus decreased their price target on 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, Barclays cut 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. Five research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat, the company has an average rating of "Reduce" and a consensus target price of $17.89.

WK Kellogg Price Performance

KLG traded down $0.34 during trading on Tuesday, reaching $19.25. 59,082 shares of the stock were exchanged, compared to its average volume of 1,037,469. WK Kellogg Co has a 1 year low of $15.17 and a 1 year high of $24.63. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of 23.77, a P/E/G ratio of 2.01 and a beta of 0.39. The business's 50 day moving average price is $19.22 and its two-hundred day moving average price is $18.33. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.74 and a quick ratio of 0.32.

WK Kellogg (NYSE:KLG - Get Free Report) last issued its quarterly earnings data 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 net margin of 2.66% and a return on equity of 39.81%. As a group, equities research analysts anticipate that WK Kellogg Co will post 1.57 earnings per share for the current year.

WK Kellogg Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a dividend of $0.165 per share. This is an increase from WK Kellogg's previous quarterly dividend of $0.16. This represents a $0.66 annualized dividend and a dividend yield of 3.43%. The ex-dividend date was Friday, February 28th. 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.