PNC Financial Services Group Inc. Takes $160,000 Position in WK Kellogg Co (NYSE:KLG)

PNC Financial Services Group Inc. bought a new position in shares of WK Kellogg Co (NYSE:KLG) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 12,213 shares of the company’s stock, valued at approximately $160,000.

Other large investors have also bought and sold shares of the company. Diversified Trust Co bought a new position in shares of WK Kellogg during the 4th quarter worth about $147,000. Daymark Wealth Partners LLC acquired a new stake in WK Kellogg in the fourth quarter valued at approximately $976,000. Nordea Investment Management AB bought a new stake in shares of WK Kellogg during the fourth quarter valued at approximately $2,119,000. Thomasville National Bank acquired a new position in shares of WK Kellogg during the fourth quarter worth approximately $141,000. Finally, SG Americas Securities LLC bought a new position in shares of WK Kellogg in the 4th quarter worth $396,000. 95.74% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

KLG has been the topic of several research reports. TD Cowen upped their price objective on shares of WK Kellogg from $13.00 to $24.00 and gave the stock a “hold” rating in a report on Wednesday, May 8th. Evercore ISI boosted their target price on shares of WK Kellogg from $21.00 to $23.00 and gave the stock an “in-line” 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 target on the stock. in a research report on Wednesday, May 8th. Stifel Nicolaus boosted their price objective on WK Kellogg from $20.00 to $22.00 and gave the stock a “hold” rating in a report on Wednesday, May 8th. Finally, Barclays raised their target price on WK Kellogg from $15.00 to $19.00 and gave the company an “underweight” rating in a report on Thursday, May 9th. Three investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to data from MarketBeat.com, WK Kellogg presently has an average rating of “Hold” and a consensus target price of $16.95.

WK Kellogg Price Performance

KLG stock opened at $16.94 on Thursday. The business has a 50 day moving average of $19.74 and a 200-day moving average of $17.08. WK Kellogg Co has a 12-month low of $9.65 and a 12-month high of $24.63. The company has a quick ratio of 0.43, a current ratio of 0.84 and a debt-to-equity ratio of 1.53.

WK Kellogg (NYSE:KLG) last announced its earnings results on Tuesday, May 7th. The company reported $0.37 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.37. The business had revenue of $707.00 million for the quarter, compared to analysts’ expectations of $697.83 million. The firm’s revenue was down .7% on a year-over-year basis. On average, sell-side analysts predict that WK Kellogg Co will post 1.54 earnings per share for the current fiscal year.

WK Kellogg Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.78%. The ex-dividend date of this dividend was Friday, May 31st.

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.