WK Kellogg Co (NYSE:KLG) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its stake in shares of WK Kellogg Co (NYSE:KLG) by 10.1% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 94,945 shares of the company’s stock after selling 10,634 shares during the period. Allspring Global Investments Holdings LLC owned about 0.11% of WK Kellogg worth $1,785,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in KLG. Eukles Asset Management acquired a new position in WK Kellogg during the fourth quarter worth $25,000. Canal Insurance CO acquired a new stake in shares of WK Kellogg in the fourth quarter valued at about $26,000. Toth Financial Advisory Corp acquired a new stake in shares of WK Kellogg in the fourth quarter valued at about $26,000. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of WK Kellogg in the fourth quarter valued at about $26,000. Finally, Brown Brothers Harriman & Co. acquired a new stake in shares of WK Kellogg in the fourth quarter valued at about $27,000. 95.74% of the stock is currently owned by institutional investors and hedge funds.

WK Kellogg Trading Up 2.9 %

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

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

WK Kellogg Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. BNP Paribas cut shares of WK Kellogg from a “neutral” rating to an “underperform” rating and set a $20.00 target price for the company. in a research report on Wednesday, May 8th. Evercore ISI increased their target price on shares of WK Kellogg from $21.00 to $23.00 and gave the company an “in-line” rating in a research report on Wednesday, May 8th. Stifel Nicolaus increased their target price on shares of WK Kellogg from $20.00 to $22.00 and gave the company a “hold” rating in a research report on Wednesday, May 8th. Barclays increased their target price on shares of WK Kellogg from $15.00 to $19.00 and gave the company an “underweight” rating in a research report on Thursday, May 9th. Finally, TD Cowen upped their price objective on shares of WK Kellogg from $13.00 to $24.00 and gave the company a “hold” rating in a report on Wednesday, May 8th. Three investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to MarketBeat.com, WK Kellogg presently has an average rating of “Hold” and a consensus target price 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.