WK Kellogg Co. $KLG Stake Reduced by Camelot Portfolios LLC

Camelot Portfolios LLC decreased its holdings in WK Kellogg Co. (NYSE:KLG) by 3.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 72,578 shares of the company’s stock after selling 2,673 shares during the quarter. Camelot Portfolios LLC owned 0.08% of WK Kellogg worth $1,157,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in WK Kellogg by 4.6% during the first quarter. Vanguard Group Inc. now owns 5,640,453 shares of the company’s stock valued at $112,414,000 after buying an additional 245,555 shares in the last quarter. Credit Agricole S A lifted its stake in WK Kellogg by 10.4% in the 1st quarter. Credit Agricole S A now owns 4,287,331 shares of the company’s stock worth $85,447,000 after acquiring an additional 403,970 shares in the last quarter. LSV Asset Management lifted its stake in WK Kellogg by 280.5% in the 1st quarter. LSV Asset Management now owns 3,038,537 shares of the company’s stock worth $60,558,000 after acquiring an additional 2,239,966 shares in the last quarter. Jupiter Asset Management Ltd. lifted its stake in WK Kellogg by 17.8% in the 1st quarter. Jupiter Asset Management Ltd. now owns 2,939,001 shares of the company’s stock worth $58,574,000 after acquiring an additional 444,120 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of WK Kellogg by 15.8% during the 1st quarter. American Century Companies Inc. now owns 1,756,810 shares of the company’s stock worth $35,013,000 after purchasing an additional 240,093 shares in the last quarter. Institutional investors own 95.74% of the company’s stock.

WK Kellogg Price Performance

WK Kellogg stock opened at $23.00 on Friday. WK Kellogg Co. has a 12 month low of $14.80 and a 12 month high of $23.56. The stock’s 50 day moving average is $23.04 and its 200-day moving average is $19.83. The company has a current ratio of 0.99, a quick ratio of 0.47 and a debt-to-equity ratio of 1.97. The company has a market capitalization of $1.99 billion, a price-to-earnings ratio of 62.16 and a beta of 0.24.

WK Kellogg (NYSE:KLG) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.03). WK Kellogg had a return on equity of 31.34% and a net margin of 1.31%.The company had revenue of $611.52 million for the quarter, compared to analyst estimates of $653.36 million. During the same period in the prior year, the company earned $0.36 EPS. The company’s quarterly revenue was down 8.8% compared to the same quarter last year. Equities research analysts expect that WK Kellogg Co. will post 1.57 EPS for the current year.

WK Kellogg Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 29th were paid a $0.165 dividend. The ex-dividend date was Friday, August 29th. This represents a $0.66 annualized dividend and a dividend yield of 2.9%. WK Kellogg’s dividend payout ratio (DPR) is currently 178.38%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on KLG shares. Barclays reissued an “underweight” rating and set a $23.00 price objective (up previously from $16.00) on shares of WK Kellogg in a report on Monday, July 14th. Evercore ISI lifted their price objective on WK Kellogg from $19.00 to $23.00 and gave the stock an “in-line” rating in a report on Friday, July 11th. TD Cowen upgraded WK Kellogg from a “sell” rating to a “hold” rating and raised their target price for the stock from $14.00 to $23.00 in a research report on Monday, July 14th. Wall Street Zen upgraded WK Kellogg from a “sell” rating to a “hold” rating in a research report on Sunday, July 13th. Finally, BNP Paribas set a $23.00 target price on WK Kellogg in a research note on Friday, July 11th. Eight equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, WK Kellogg has a consensus rating of “Reduce” and an average target price of $20.88.

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.