D.A. Davidson & CO. Sells 721 Shares of WK Kellogg Co (NYSE:KLG)

D.A. Davidson & CO. lowered its position in WK Kellogg Co (NYSE:KLG) by 0.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 122,963 shares of the company’s stock after selling 721 shares during the quarter. D.A. Davidson & CO. owned about 0.14% of WK Kellogg worth $2,212,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Truist Financial Corp increased its holdings in shares of WK Kellogg by 2.2% in the fourth quarter. Truist Financial Corp now owns 39,658 shares of the company’s stock worth $713,000 after purchasing an additional 838 shares during the period. GAMMA Investing LLC increased its holdings in shares of WK Kellogg by 49.4% in the fourth quarter. GAMMA Investing LLC now owns 2,823 shares of the company’s stock worth $51,000 after purchasing an additional 933 shares during the period. Janney Montgomery Scott LLC increased its holdings in shares of WK Kellogg by 13.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 16,818 shares of the company’s stock worth $303,000 after purchasing an additional 1,955 shares during the period. Spire Wealth Management bought a new position in shares of WK Kellogg in the fourth quarter worth $56,000. Finally, Inlet Private Wealth LLC increased its holdings in shares of WK Kellogg by 1.0% in the fourth quarter. Inlet Private Wealth LLC now owns 324,040 shares of the company’s stock worth $5,829,000 after purchasing an additional 3,200 shares during the period. Institutional investors own 95.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Barclays decreased their price target on shares of WK Kellogg from $19.00 to $16.00 and set an “underweight” rating on the stock in a report on Friday, January 17th. TD Cowen cut 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. Jefferies Financial Group reduced their target price on WK Kellogg from $19.00 to $16.00 and set a “hold” rating on the stock in a research note on Tuesday, January 28th. Finally, Stifel Nicolaus reduced their target price on WK Kellogg from $19.00 to $18.00 and set a “hold” rating on the stock in a research note on Friday, January 24th. Four analysts have rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $17.88.

WK Kellogg Stock Up 1.0 %

KLG opened at $20.00 on Friday. The company has a market cap of $1.72 billion, a P/E ratio of 24.69, a P/E/G ratio of 2.02 and a beta of 0.70. The business’s 50-day moving average price is $17.49 and its 200-day moving average price is $17.78. The company has a current ratio of 0.74, a quick ratio of 0.32 and a debt-to-equity ratio of 1.45. WK Kellogg Co has a 12 month low of $14.36 and a 12 month high of $24.63.

WK Kellogg (NYSE:KLG) last released its quarterly earnings data 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, equities analysts expect that WK Kellogg Co will post 1.57 EPS for the current year.

WK Kellogg Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a $0.165 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.66 annualized dividend and a dividend yield of 3.30%. This is an increase from WK Kellogg’s previous quarterly dividend of $0.16. WK Kellogg’s payout ratio is currently 79.01%.

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.