Lincoln Capital Corp Takes Position in WK Kellogg Co (NYSE:KLG)

Lincoln Capital Corp bought a new position in WK Kellogg Co (NYSE:KLG) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 78,090 shares of the company’s stock, valued at approximately $1,026,000. Lincoln Capital Corp owned 0.09% of WK Kellogg at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in KLG. S.A. Mason LLC bought a new stake in shares of WK Kellogg during the fourth quarter valued at approximately $30,000. Financiere des Professionnels Fonds d investissement inc. bought a new position in WK Kellogg in the fourth quarter valued at $36,000. Thomasville National Bank bought a new position in shares of WK Kellogg in the 4th quarter valued at about $141,000. Diversified Trust Co bought a new position in shares of WK Kellogg in the 4th quarter valued at about $147,000. Finally, Alaska Wealth Advisors acquired a new stake in shares of WK Kellogg during the 4th quarter worth about $177,000. Institutional investors own 95.74% of the company’s stock.

WK Kellogg Stock Down 1.2 %

Shares of KLG traded down $0.22 during mid-day trading on Wednesday, hitting $18.87. 1,127,042 shares of the stock were exchanged, compared to its average volume of 1,150,818. The stock has a 50-day simple moving average of $14.73. WK Kellogg Co has a 52-week low of $9.65 and a 52-week high of $21.00. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.84 and a quick ratio of 0.43.

WK Kellogg (NYSE:KLG) last announced its quarterly earnings results on Tuesday, February 13th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.03). The firm had revenue of $651.00 million during the quarter, compared to analysts’ expectations of $645.87 million. The business’s revenue for the quarter was down 2.7% on a year-over-year basis. As a group, equities analysts expect that WK Kellogg Co will post 1.51 earnings per share for the current fiscal year.

WK Kellogg Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend was Thursday, February 29th.

Analyst Ratings Changes

A number of research firms have weighed in on KLG. Morgan Stanley started coverage on shares of WK Kellogg in a report on Thursday, December 14th. They set an “equal weight” rating and a $13.00 target price on the stock. Barclays upped their target price on shares of WK Kellogg from $11.00 to $12.00 and gave the stock an “underweight” rating in a research note on Thursday, February 15th. Finally, Stifel Nicolaus increased their price target on shares of WK Kellogg from $11.00 to $13.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. Two equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $12.45.

About WK Kellogg

WK Kellogg Co operates as a food company in the United States, Canada, and the Caribbean. It offers 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.