Amundi Boosts Holdings in WK Kellogg Co (NYSE:KLG)

Amundi increased its stake in shares of WK Kellogg Co (NYSE:KLG) by 2,471.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 119,068 shares of the company’s stock after buying an additional 114,437 shares during the quarter. Amundi’s holdings in WK Kellogg were worth $2,142,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in KLG. Halbert Hargrove Global Advisors LLC purchased a new stake in WK Kellogg during the fourth quarter worth about $25,000. SBI Securities Co. Ltd. purchased a new position in shares of WK Kellogg in the fourth quarter worth about $36,000. GAMMA Investing LLC increased its stake in shares of WK Kellogg by 49.4% in the fourth quarter. GAMMA Investing LLC now owns 2,823 shares of the company’s stock worth $51,000 after purchasing an additional 933 shares in the last quarter. Spire Wealth Management purchased a new position in shares of WK Kellogg in the fourth quarter worth about $56,000. Finally, Transcendent Capital Group LLC increased its stake in shares of WK Kellogg by 9,608.0% in the fourth quarter. Transcendent Capital Group LLC now owns 4,854 shares of the company’s stock worth $87,000 after purchasing an additional 4,804 shares in the last quarter. Hedge funds and other institutional investors own 95.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Barclays reduced their target price on shares of WK Kellogg from $19.00 to $16.00 and set an “underweight” rating for the company in a research note 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 note on Tuesday, January 28th. Stifel Nicolaus reduced their target price on shares of WK Kellogg from $19.00 to $18.00 and set a “hold” rating for the company in a research note on Friday, January 24th. Finally, TD Cowen downgraded shares of WK Kellogg from a “hold” rating to a “sell” rating and reduced their target price for the stock from $18.00 to $16.00 in a research note on Wednesday, January 8th. Four research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. According to data from MarketBeat, WK Kellogg presently has an average rating of “Hold” and a consensus price target of $17.88.

WK Kellogg Price Performance

Shares of NYSE:KLG opened at $19.87 on Tuesday. The company has a 50 day moving average of $18.02 and a 200 day moving average of $18.13. The stock has a market cap of $1.71 billion, a P/E ratio of 24.52, a P/E/G ratio of 2.01 and a beta of 0.30. WK Kellogg Co has a 12 month low of $15.17 and a 12 month high of $24.63. The company has a current ratio of 0.74, a quick ratio of 0.32 and a debt-to-equity ratio of 1.45.

WK Kellogg (NYSE:KLG) last announced its earnings results on Tuesday, February 11th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate 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, sell-side analysts forecast that WK Kellogg Co will post 1.57 EPS for the current fiscal year.

WK Kellogg Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a dividend of $0.165 per share. The ex-dividend date was Friday, February 28th. This is a positive change from WK Kellogg’s previous quarterly dividend of $0.16. This represents a $0.66 annualized dividend and a yield of 3.32%. WK Kellogg’s payout ratio 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.