American Century Companies Inc. Raises Stake in WK Kellogg Co (NYSE:KLG)

American Century Companies Inc. increased its holdings in shares of WK Kellogg Co (NYSE:KLG - Free Report) by 9.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,516,717 shares of the company's stock after purchasing an additional 126,793 shares during the period. American Century Companies Inc. owned approximately 1.76% of WK Kellogg worth $27,286,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KLG. Halbert Hargrove Global Advisors LLC purchased a new stake in shares of WK Kellogg in the fourth quarter valued at about $25,000. SBI Securities Co. Ltd. purchased a new stake in WK Kellogg in the 4th quarter valued at about $36,000. Wealthfront Advisers LLC bought a new position in shares of WK Kellogg during the 4th quarter worth approximately $44,000. GAMMA Investing LLC increased its position in shares of WK Kellogg by 49.4% during the fourth quarter. GAMMA Investing LLC now owns 2,823 shares of the company's stock valued at $51,000 after acquiring an additional 933 shares during the last quarter. Finally, Spire Wealth Management bought a new stake in WK Kellogg during the fourth quarter worth $56,000. 95.74% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on KLG shares. Morgan Stanley assumed coverage on WK Kellogg in a research note on Monday, March 24th. They issued an "underweight" rating and a $18.00 price objective for the company. TD Cowen lowered shares of WK Kellogg from a "hold" rating to a "sell" rating and reduced their price target for the company from $18.00 to $16.00 in a research report on Wednesday, January 8th. Barclays lowered their price objective on shares of WK Kellogg from $19.00 to $16.00 and set an "underweight" rating on the stock in a research report on Friday, January 17th. Jefferies Financial Group reduced 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. Finally, Stifel Nicolaus lowered their price target on shares of WK Kellogg from $19.00 to $18.00 and set a "hold" rating on the stock in a report on Friday, January 24th. Five equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus price target of $17.89.

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WK Kellogg Price Performance

NYSE KLG traded down $0.28 on Thursday, reaching $19.89. 945,406 shares of the company's stock traded hands, compared to its average volume of 1,014,475. The stock has a market cap of $1.71 billion, a PE ratio of 24.56, a P/E/G ratio of 2.01 and a beta of 0.29. 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 Co has a 12 month low of $15.17 and a 12 month high of $24.63. The stock has a 50-day simple moving average of $18.83 and a 200 day simple moving average of $18.27.

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

WK Kellogg Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.165 dividend. The ex-dividend date was Friday, February 28th. This is a boost from WK Kellogg's previous quarterly dividend of $0.16. This represents a $0.66 annualized dividend and a dividend yield of 3.32%. WK Kellogg's dividend payout ratio (DPR) is presently 81.48%.

About WK Kellogg

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.