DekaBank Deutsche Girozentrale Makes New Investment in WK Kellogg Co (NYSE:KLG)

DekaBank Deutsche Girozentrale acquired a new position in shares of WK Kellogg Co (NYSE:KLG) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 12,625 shares of the company’s stock, valued at approximately $163,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Salem Investment Counselors Inc. purchased a new stake in WK Kellogg during the fourth quarter valued at $2,319,000. Nordea Investment Management AB bought a new stake in shares of WK Kellogg in the 4th quarter worth about $2,119,000. Oak Thistle LLC purchased a new stake in shares of WK Kellogg during the 4th quarter valued at about $1,721,000. Mitsubishi UFJ Trust & Banking Corp bought a new position in shares of WK Kellogg in the 3rd quarter valued at about $1,657,000. Finally, Westhampton Capital LLC purchased a new position in WK Kellogg in the fourth quarter worth about $1,071,000. 95.74% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Barclays upped their price objective on WK Kellogg from $12.00 to $15.00 and gave the company an “underweight” rating in a research report on Friday, April 12th. Stifel Nicolaus increased their price target on WK Kellogg from $11.00 to $13.00 and gave the company a “hold” rating in a report on Thursday, January 25th. Two research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $12.75.

WK Kellogg Price Performance

Shares of KLG stock opened at $21.11 on Wednesday. The stock has a 50 day moving average price of $16.68 and a 200 day moving average price of $13.56. WK Kellogg Co has a 52-week low of $9.65 and a 52-week high of $22.08. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.84 and a quick ratio of 0.43.

WK Kellogg (NYSE:KLG) last released its earnings results on Tuesday, February 13th. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.03). The firm had revenue of $651.00 million during the quarter, compared to analyst estimates of $645.87 million. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. On average, research analysts forecast that WK Kellogg Co will post 1.51 EPS for the current fiscal year.

WK Kellogg Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $0.16 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.64 annualized dividend and a yield of 3.03%.

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.