Charles Schwab Investment Management Inc. Buys 127,488 Shares of WK Kellogg Co (NYSE:KLG)

Charles Schwab Investment Management Inc. boosted its stake in WK Kellogg Co (NYSE:KLG) by 11.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,240,046 shares of the company’s stock after acquiring an additional 127,488 shares during the period. Charles Schwab Investment Management Inc. owned 1.44% of WK Kellogg worth $22,308,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in KLG. Halbert Hargrove Global Advisors LLC bought a new position in shares of WK Kellogg during the 4th quarter worth approximately $25,000. SBI Securities Co. Ltd. bought a new position in shares of WK Kellogg during the 4th quarter worth approximately $36,000. GAMMA Investing LLC boosted its holdings 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 buying an additional 933 shares in the last quarter. Spire Wealth Management acquired a new position in shares of WK Kellogg during the fourth quarter worth approximately $56,000. Finally, Transcendent Capital Group LLC raised its position in shares of WK Kellogg by 9,608.0% during the fourth quarter. Transcendent Capital Group LLC now owns 4,854 shares of the company’s stock worth $87,000 after purchasing an additional 4,804 shares during the period. 95.74% of the stock is currently owned by institutional investors.

WK Kellogg Trading Up 1.0 %

Shares of KLG stock opened at $20.04 on Wednesday. The company has a 50 day moving average of $18.07 and a 200-day moving average of $18.15. 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 Co has a 12-month low of $15.17 and a 12-month high of $24.63. The firm has a market cap of $1.73 billion, a P/E ratio of 24.74, a PEG ratio of 2.01 and a beta of 0.30.

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 net margin of 2.66% and a return on equity of 39.81%. Sell-side analysts anticipate that WK Kellogg Co will post 1.57 earnings per share for the current year.

WK Kellogg Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 3.29%. This is an increase from WK Kellogg’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Friday, February 28th. WK Kellogg’s dividend payout ratio (DPR) is presently 81.48%.

Analysts Set New Price Targets

KLG has been the topic of a number of research reports. Barclays lowered 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. TD Cowen downgraded shares of WK Kellogg from a “hold” rating to a “sell” rating and cut their price objective for the stock from $18.00 to $16.00 in a report on Wednesday, January 8th. Stifel Nicolaus cut their price objective on shares of WK Kellogg from $19.00 to $18.00 and set a “hold” rating on the stock in a report on Friday, January 24th. Finally, Jefferies Financial Group cut their price objective on shares of WK Kellogg from $19.00 to $16.00 and set a “hold” rating on the stock in a report on Tuesday, January 28th. Four equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat.com, WK Kellogg presently has a consensus rating of “Hold” and a consensus target price of $17.88.

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.