WK Kellogg Co. (NYSE:KLG) Stock Holdings Trimmed by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lessened its holdings in shares of WK Kellogg Co. (NYSE:KLG) by 4.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 16,100 shares of the company’s stock after selling 718 shares during the quarter. Janney Montgomery Scott LLC’s holdings in WK Kellogg were worth $321,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Ancora Advisors LLC lifted its holdings in WK Kellogg by 181.8% in the fourth quarter. Ancora Advisors LLC now owns 1,519 shares of the company’s stock worth $27,000 after purchasing an additional 980 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of WK Kellogg in the 4th quarter worth approximately $36,000. Wealthfront Advisers LLC bought a new position in shares of WK Kellogg in the fourth quarter valued at approximately $44,000. Curat Global LLC acquired a new position in shares of WK Kellogg during the first quarter valued at approximately $66,000. Finally, Summit Securities Group LLC bought a new stake in WK Kellogg during the fourth quarter worth approximately $70,000. Institutional investors own 95.74% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on KLG. Morgan Stanley started coverage on WK Kellogg in a research note on Monday, March 24th. They set an “underweight” rating and a $18.00 price target for the company. Wall Street Zen lowered WK Kellogg from a “hold” rating to a “sell” rating in a report on Saturday. Five analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. Based on data from MarketBeat, WK Kellogg has an average rating of “Reduce” and a consensus price target of $16.86.

WK Kellogg Price Performance

Shares of NYSE:KLG opened at $17.53 on Friday. The company has a market capitalization of $1.51 billion, a PE ratio of 27.38, a price-to-earnings-growth ratio of 1.89 and a beta of 0.23. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.34 and a current ratio of 0.78. The stock has a fifty day moving average of $16.79 and a 200-day moving average of $17.81. WK Kellogg Co. has a one year low of $14.80 and a one year high of $22.21.

WK Kellogg (NYSE:KLG) last announced its earnings results on Tuesday, May 6th. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.21). WK Kellogg had a net margin of 2.14% and a return on equity of 34.88%. The company had revenue of $667.00 million for the quarter, compared to analysts’ expectations of $677.91 million. The company’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.37 earnings per share. As a group, equities analysts anticipate that WK Kellogg Co. will post 1.57 EPS for the current fiscal year.

WK Kellogg Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date was Friday, May 30th. WK Kellogg’s dividend payout ratio is presently 103.13%.

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.