WK Kellogg Co (NYSE:KLG) Shares Sold by LSV Asset Management

LSV Asset Management trimmed its holdings in shares of WK Kellogg Co (NYSE:KLG) by 5.5% during the second quarter, HoldingsChannel reports. The institutional investor owned 118,683 shares of the company’s stock after selling 6,967 shares during the quarter. LSV Asset Management’s holdings in WK Kellogg were worth $1,954,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of KLG. Kellogg W K Foundation Trust acquired a new position in WK Kellogg during the fourth quarter valued at approximately $177,458,000. Massachusetts Financial Services Co. MA acquired a new position in shares of WK Kellogg during the fourth quarter worth $18,412,000. Beutel Goodman & Co Ltd. acquired a new position in shares of WK Kellogg during the fourth quarter worth $13,730,000. Rodgers Brothers Inc. lifted its position 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 worth $11,721,000 after purchasing an additional 596,975 shares in the last quarter. Finally, Jupiter Asset Management Ltd. lifted its position 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 worth $9,985,000 after purchasing an additional 504,232 shares in the last quarter. 95.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on KLG. Barclays reduced their target price 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, July 19th. JPMorgan Chase & Co. reduced their target price on shares of WK Kellogg from $22.00 to $17.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Bank of America cut shares of WK Kellogg from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $24.00 to $17.00 in a research report on Wednesday, July 10th. Finally, Stifel Nicolaus dropped their price target on shares of WK Kellogg from $22.00 to $18.00 and set a “hold” rating for the company in a research note on Tuesday, July 23rd. Four investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $17.40.

WK Kellogg Stock Up 1.1 %

KLG stock opened at $18.55 on Friday. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.83 and a quick ratio of 0.36. WK Kellogg Co has a 1-year low of $9.65 and a 1-year high of $24.63. The firm has a fifty day moving average price of $17.03 and a two-hundred day moving average price of $18.35. The firm has a market cap of $1.59 billion and a price-to-earnings ratio of 12.89.

WK Kellogg (NYSE:KLG) last released its earnings results on Tuesday, August 6th. The company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.06). The business had revenue of $672.00 million for the quarter, compared to the consensus estimate of $671.50 million. WK Kellogg had a net margin of 4.45% and a return on equity of 42.12%. The company’s revenue for the quarter was down 4.0% compared to the same quarter last year. Research analysts predict that WK Kellogg Co will post 1.5 EPS for the current year.

WK Kellogg Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, August 29th will be given a dividend of $0.16 per share. The ex-dividend date is Thursday, August 29th. This represents a $0.64 annualized dividend and a dividend yield of 3.45%.

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.