Keybank National Association OH Has $88.61 Million Holdings in WK Kellogg Co (NYSE:KLG)

Keybank National Association OH boosted its position in WK Kellogg Co (NYSE:KLG) by 1.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,925,470 shares of the company’s stock after buying an additional 52,129 shares during the period. Keybank National Association OH owned approximately 5.72% of WK Kellogg worth $88,609,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Halbert Hargrove Global Advisors LLC bought a new stake in shares of WK Kellogg in the 4th quarter valued at $25,000. SBI Securities Co. Ltd. bought a new stake in WK Kellogg in the fourth quarter valued at $36,000. GAMMA Investing LLC boosted its position in shares of WK Kellogg by 49.4% during the 4th quarter. GAMMA Investing LLC now owns 2,823 shares of the company’s stock worth $51,000 after purchasing an additional 933 shares in the last quarter. Spire Wealth Management acquired a new stake in shares of WK Kellogg in the 4th quarter valued at about $56,000. Finally, International Assets Investment Management LLC increased its position in WK Kellogg by 1,724.1% in the 3rd quarter. International Assets Investment Management LLC now owns 4,688 shares of the company’s stock valued at $80,000 after buying an additional 4,431 shares in the last quarter. Institutional investors own 95.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on KLG. TD Cowen downgraded WK Kellogg from a “hold” rating to a “sell” rating and decreased their price objective for the company from $18.00 to $16.00 in a report on Wednesday, January 8th. 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. Barclays reduced their price objective 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. Finally, Stifel Nicolaus dropped their price target 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. Four investment analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to MarketBeat.com, WK Kellogg has an average rating of “Hold” and an average price target of $17.88.

WK Kellogg Price Performance

KLG opened at $19.42 on Tuesday. The firm has a 50-day moving average price of $17.61 and a 200-day moving average price of $17.95. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of 23.98, a PEG ratio of 2.01 and a beta of 0.70. WK Kellogg Co has a twelve month low of $14.37 and a twelve month high of $24.63. 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 announced its quarterly earnings results on Tuesday, February 11th. The company reported $0.42 earnings per share (EPS) for the quarter, topping 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%. Equities analysts expect 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 will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a dividend of $0.165 per share. This is a positive change from WK Kellogg’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.66 annualized dividend and a yield of 3.40%. WK Kellogg’s dividend payout ratio (DPR) is currently 81.48%.

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.