WK Kellogg Co (NYSE:KLG) Shares Sold by Fayez Sarofim & Co

Fayez Sarofim & Co reduced its stake in WK Kellogg Co (NYSE:KLG) by 3.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 17,993 shares of the company’s stock after selling 665 shares during the quarter. Fayez Sarofim & Co’s holdings in WK Kellogg were worth $324,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its holdings in shares of 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 buying an additional 127,488 shares during the last quarter. Victory Capital Management Inc. raised its stake in WK Kellogg by 1,217.5% in the 4th quarter. Victory Capital Management Inc. now owns 233,997 shares of the company’s stock worth $4,210,000 after acquiring an additional 216,236 shares during the last quarter. Royce & Associates LP lifted its position in WK Kellogg by 46.0% during the 4th quarter. Royce & Associates LP now owns 105,134 shares of the company’s stock worth $1,891,000 after acquiring an additional 33,147 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in WK Kellogg during the 4th quarter valued at about $273,000. Finally, Alberta Investment Management Corp acquired a new position in shares of WK Kellogg in the fourth quarter valued at about $2,022,000. 95.74% of the stock is currently owned by institutional investors and hedge funds.

WK Kellogg Trading Down 3.5 %

Shares of KLG opened at $18.84 on Tuesday. The stock has a market cap of $1.62 billion, a PE ratio of 23.26, a price-to-earnings-growth ratio of 2.01 and a beta of 0.39. WK Kellogg Co has a 52-week low of $15.17 and a 52-week high of $24.63. The firm’s fifty day moving average is $19.46 and its two-hundred day moving average is $18.41. The company has a quick ratio of 0.32, a current ratio of 0.74 and a debt-to-equity ratio of 1.45.

WK Kellogg (NYSE:KLG) last issued its earnings results on Tuesday, February 11th. The company reported $0.42 earnings per share 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%. Research analysts forecast that WK Kellogg Co will post 1.57 earnings per share for the current fiscal year.

WK Kellogg Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend was Friday, February 28th. This is a positive change from WK Kellogg’s previous quarterly dividend of $0.16. WK Kellogg’s payout ratio is currently 81.48%.

Wall Street Analysts Forecast Growth

KLG has been the topic of a number of recent research reports. Barclays dropped their target price on WK Kellogg from $19.00 to $16.00 and set an “underweight” rating on the stock in a research report on Friday, January 17th. Jefferies Financial Group dropped their target price on WK Kellogg from $19.00 to $16.00 and set a “hold” rating on the stock in a report on Tuesday, January 28th. Morgan Stanley started coverage on shares of WK Kellogg in a report on Monday, March 24th. They issued an “underweight” rating and a $18.00 price objective for the company. TD Cowen cut WK Kellogg from a “hold” rating to a “sell” rating and dropped their target price for the company from $18.00 to $16.00 in a research report on Wednesday, January 8th. Finally, Stifel Nicolaus lowered their price target on WK Kellogg from $19.00 to $18.00 and set a “hold” rating on the stock in a research report on Friday, January 24th. Five research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $17.89.

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.