Nordea Investment Management AB Has $2.11 Million Holdings in WK Kellogg Co. $KLG

Nordea Investment Management AB boosted its position in shares of WK Kellogg Co. (NYSE:KLG) by 1.6% during the second quarter, HoldingsChannel reports. The institutional investor owned 132,745 shares of the company’s stock after purchasing an additional 2,048 shares during the period. Nordea Investment Management AB’s holdings in WK Kellogg were worth $2,112,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of KLG. Rosenberg Matthew Hamilton raised its position in shares of WK Kellogg by 594.1% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 2,353 shares of the company’s stock valued at $38,000 after buying an additional 2,014 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in WK Kellogg by 1,030.8% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 3,675 shares of the company’s stock valued at $73,000 after acquiring an additional 3,350 shares during the last quarter. Quantbot Technologies LP acquired a new position in WK Kellogg during the first quarter valued at approximately $87,000. Advisor OS LLC bought a new stake in WK Kellogg during the first quarter worth $200,000. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in shares of WK Kellogg by 7.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 10,757 shares of the company’s stock valued at $214,000 after purchasing an additional 733 shares in the last quarter. 95.74% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on KLG. Cowen raised WK Kellogg from a “sell” rating to a “hold” rating in a report on Friday, July 11th. JPMorgan Chase & Co. assumed coverage on WK Kellogg in a research note on Wednesday, August 20th. They set a “neutral” rating and a $23.00 target price for the company. BNP Paribas set a $23.00 price target on shares of WK Kellogg in a research note on Friday, July 11th. Evercore ISI lifted their price target on shares of WK Kellogg from $19.00 to $23.00 and gave the company an “in-line” rating in a report on Friday, July 11th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of WK Kellogg in a research note on Saturday, September 27th. Nine investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $20.88.

WK Kellogg Stock Performance

Shares of KLG stock opened at $23.00 on Thursday. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of 62.16 and a beta of 0.24. 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 business’s 50-day moving average price is $22.99 and its 200-day moving average price is $20.27. WK Kellogg Co. has a 12 month low of $14.80 and a 12 month high of $23.56.

WK Kellogg (NYSE:KLG) last issued its quarterly earnings data 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 net margin of 1.31% and a return on equity of 31.34%. The business had revenue of $611.52 million during the quarter, compared to the consensus estimate of $653.36 million. During the same quarter last year, the business earned $0.36 EPS. The firm’s quarterly revenue was down 8.8% compared to the same quarter last year. Equities research analysts forecast that WK Kellogg Co. will post 1.57 EPS for the current year.

WK Kellogg Announces Dividend

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

WK Kellogg Company 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.