Principal Financial Group Inc. Invests $4.46 Million in WK Kellogg Co (NYSE:KLG)

Principal Financial Group Inc. acquired a new position in WK Kellogg Co (NYSE:KLGFree Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 339,508 shares of the company’s stock, valued at approximately $4,461,000. Principal Financial Group Inc. owned about 0.40% of WK Kellogg as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of KLG. Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of WK Kellogg in the third quarter worth about $1,657,000. Diversified Trust Co purchased a new position in WK Kellogg during the fourth quarter valued at approximately $147,000. Daymark Wealth Partners LLC purchased a new position in WK Kellogg during the fourth quarter valued at approximately $976,000. Nordea Investment Management AB purchased a new position in WK Kellogg during the fourth quarter valued at approximately $2,119,000. Finally, North Star Investment Management Corp. purchased a new position in WK Kellogg during the fourth quarter valued at approximately $470,000. 95.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on KLG. Stifel Nicolaus lifted their price target on WK Kellogg from $20.00 to $22.00 and gave the company a “hold” rating in a research report on Wednesday, May 8th. TD Cowen lifted their price target on WK Kellogg from $13.00 to $24.00 and gave the company a “hold” rating in a research report on Wednesday, May 8th. Barclays lifted their price target on WK Kellogg from $15.00 to $19.00 and gave the company an “underweight” rating in a research report on Thursday, May 9th. BNP Paribas lowered WK Kellogg from a “neutral” rating to an “underperform” rating and set a $20.00 price objective on the stock. in a report on Wednesday, May 8th. Finally, Evercore ISI raised their price objective on WK Kellogg from $21.00 to $23.00 and gave the company an “in-line” rating in a report on Wednesday, May 8th. Three analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to data from MarketBeat, WK Kellogg presently has a consensus rating of “Hold” and a consensus target price of $16.95.

Read Our Latest Stock Report on KLG

WK Kellogg Stock Up 2.0 %

Shares of NYSE:KLG opened at $19.00 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.84 and a debt-to-equity ratio of 1.53. The business’s 50 day moving average price is $21.10 and its 200-day moving average price is $16.03. WK Kellogg Co has a 1 year low of $9.65 and a 1 year high of $24.63.

WK Kellogg (NYSE:KLGGet Free Report) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.37 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.37. The firm had revenue of $707.00 million during the quarter, compared to analyst estimates of $697.83 million. The firm’s revenue was down .7% compared to the same quarter last year. On average, equities analysts anticipate that WK Kellogg Co will post 1.55 earnings per share for the current year.

WK Kellogg Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date of this dividend is Friday, May 31st.

WK Kellogg Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for WK Kellogg (NYSE:KLG)

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