Hancock Whitney Corp Has $617,000 Position in WK Kellogg Co (NYSE:KLG)

Hancock Whitney Corp raised its holdings in WK Kellogg Co (NYSE:KLG) by 34.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,490 shares of the company’s stock after acquiring an additional 9,709 shares during the quarter. Hancock Whitney Corp’s holdings in WK Kellogg were worth $617,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in KLG. Kellogg W K Foundation Trust acquired a new position in shares of WK Kellogg during the 4th quarter valued at about $177,458,000. Rodgers Brothers Inc. grew its holdings in WK Kellogg by 2,253.3% during the first quarter. Rodgers Brothers Inc. now owns 623,468 shares of the company’s stock valued at $11,721,000 after purchasing an additional 596,975 shares during the last quarter. Jupiter Asset Management Ltd. raised its position in shares of WK Kellogg by 1,876.1% in the first quarter. Jupiter Asset Management Ltd. now owns 531,108 shares of the company’s stock valued at $9,985,000 after purchasing an additional 504,232 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in shares of WK Kellogg in the first quarter worth $8,998,000. Finally, Charles Schwab Investment Management Inc. bought a new stake in shares of WK Kellogg during the 4th quarter worth $6,159,000. 95.74% of the stock is owned by institutional investors.

WK Kellogg Stock Down 3.5 %

KLG opened at $17.56 on Tuesday. WK Kellogg Co has a fifty-two week low of $9.65 and a fifty-two week high of $24.63. The company has a market capitalization of $1.51 billion and a P/E ratio of 11.63. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.83 and a quick ratio of 0.36. The firm’s fifty day moving average price is $17.32 and its two-hundred day moving average price is $18.57.

WK Kellogg (NYSE:KLG) last posted its earnings results on Tuesday, August 6th. The company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.06). The business had revenue of $672.00 million during the quarter, compared to the consensus estimate of $671.50 million. WK Kellogg had a net margin of 4.45% and a return on equity of 42.12%. WK Kellogg’s quarterly revenue was down 4.0% compared to the same quarter last year. On average, analysts anticipate that WK Kellogg Co will post 1.5 EPS for the current year.

WK Kellogg Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 29th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.65%. The ex-dividend date was Thursday, August 29th. WK Kellogg’s dividend payout ratio is 42.38%.

Analyst Ratings Changes

KLG has been the topic of several recent analyst reports. Bank of America downgraded shares of WK Kellogg from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $24.00 to $17.00 in a report on Wednesday, July 10th. JPMorgan Chase & Co. cut their price objective on WK Kellogg from $22.00 to $17.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Stifel Nicolaus lowered their target price on WK Kellogg from $22.00 to $18.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. Finally, Barclays cut their price target on WK Kellogg from $19.00 to $16.00 and set an “underweight” rating for the company in a report on Friday, July 19th. Four research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat, WK Kellogg has an average rating of “Hold” and an average price target of $17.40.

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.