Amundi Has $2.14 Million Holdings in WK Kellogg Co (NYSE:KLG)

Amundi lifted its position in shares of WK Kellogg Co (NYSE:KLG) by 2,471.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 119,068 shares of the company’s stock after buying an additional 114,437 shares during the quarter. Amundi owned about 0.14% of WK Kellogg worth $2,142,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Raymond James Financial Inc. acquired a new stake in WK Kellogg in the fourth quarter worth $754,000. SPC Financial Inc. acquired a new stake in WK Kellogg in the fourth quarter worth $195,000. Victory Capital Management Inc. grew its holdings in WK Kellogg by 1,217.5% in the fourth quarter. Victory Capital Management Inc. now owns 233,997 shares of the company’s stock worth $4,210,000 after purchasing an additional 216,236 shares during the period. Keybank National Association OH grew its holdings in WK Kellogg by 1.1% in the fourth quarter. Keybank National Association OH now owns 4,925,470 shares of the company’s stock worth $88,609,000 after purchasing an additional 52,129 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in WK Kellogg by 11.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,240,046 shares of the company’s stock worth $22,308,000 after purchasing an additional 127,488 shares during the period. 95.74% of the stock is currently owned by institutional investors and hedge funds.

WK Kellogg Stock Down 1.3 %

KLG opened at $19.87 on Tuesday. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.74 and a quick ratio of 0.32. The company’s 50-day moving average is $18.02 and its 200 day moving average is $18.13. WK Kellogg Co has a fifty-two week low of $15.17 and a fifty-two week high of $24.63. The firm has a market capitalization of $1.71 billion, a P/E ratio of 24.52, a PEG ratio of 2.01 and a beta of 0.30.

WK Kellogg (NYSE:KLG) last released its quarterly earnings results on Tuesday, February 11th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.14. WK Kellogg had a net margin of 2.66% and a return on equity of 39.81%. Research analysts expect that WK Kellogg Co will post 1.57 earnings per share for the current fiscal year.

WK Kellogg Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a dividend of $0.165 per share. This is a positive change from WK Kellogg’s previous quarterly dividend of $0.16. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend was Friday, February 28th. WK Kellogg’s dividend payout ratio (DPR) is presently 81.48%.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Barclays reduced their price target on shares of WK Kellogg from $19.00 to $16.00 and set an “underweight” rating for the company in a report on Friday, January 17th. Jefferies Financial Group dropped their price objective on shares of WK Kellogg from $19.00 to $16.00 and set a “hold” rating on the stock in a research note on Tuesday, January 28th. Stifel Nicolaus dropped their price objective on shares of WK Kellogg from $19.00 to $18.00 and set a “hold” rating on the stock in a research note on Friday, January 24th. Finally, TD Cowen lowered shares of WK Kellogg from a “hold” rating to a “sell” rating and dropped their price objective for the company from $18.00 to $16.00 in a research note on Wednesday, January 8th. Four analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $17.88.

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.