WK Kellogg Co (NYSE:KLG) Shares Acquired by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp boosted its position in WK Kellogg Co (NYSE:KLG) by 5.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,822 shares of the company’s stock after purchasing an additional 2,032 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in WK Kellogg were worth $716,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of WK Kellogg in the 4th quarter valued at approximately $25,000. SBI Securities Co. Ltd. purchased a new stake in shares of WK Kellogg during the 4th quarter worth $36,000. Wealthfront Advisers LLC acquired a new position in shares of WK Kellogg during the 4th quarter worth $44,000. GAMMA Investing LLC increased its holdings in shares of WK Kellogg by 49.4% in the 4th quarter. GAMMA Investing LLC now owns 2,823 shares of the company’s stock valued at $51,000 after purchasing an additional 933 shares in the last quarter. Finally, Spire Wealth Management acquired a new stake in shares of WK Kellogg in the fourth quarter valued at about $56,000. Hedge funds and other institutional investors own 95.74% of the company’s stock.

WK Kellogg Stock Up 1.0 %

Shares of NYSE KLG opened at $20.13 on Wednesday. The company has a quick ratio of 0.32, a current ratio of 0.74 and a debt-to-equity ratio of 1.45. The stock has a market capitalization of $1.73 billion, a PE ratio of 24.85, a P/E/G ratio of 2.01 and a beta of 0.29. The firm has a fifty day moving average of $18.70 and a 200-day moving average of $18.24. WK Kellogg Co has a 52-week low of $15.17 and a 52-week high of $24.63.

WK Kellogg (NYSE:KLG) last announced its quarterly earnings results on Tuesday, February 11th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.28 by $0.14. WK Kellogg had a return on equity of 39.81% and a net margin of 2.66%. On average, analysts anticipate that WK Kellogg Co will post 1.57 EPS for the current year.

WK Kellogg Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $0.165 per share. This is an increase from WK Kellogg’s previous quarterly dividend of $0.16. This represents a $0.66 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend was Friday, February 28th. WK Kellogg’s payout ratio is currently 81.48%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Barclays dropped their target price 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 reduced their price objective on WK Kellogg from $19.00 to $16.00 and set a “hold” rating for the company in a report on Tuesday, January 28th. Morgan Stanley assumed coverage on WK Kellogg in a research report on Monday, March 24th. They issued an “underweight” rating and a $18.00 price target for the company. Stifel Nicolaus decreased 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 report on Friday, January 24th. Finally, TD Cowen lowered WK Kellogg from a “hold” rating to a “sell” rating and reduced their target price for the company from $18.00 to $16.00 in a research note on Wednesday, January 8th. Five equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $17.89.

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.