Zurcher Kantonalbank Zurich Cantonalbank Makes New $163,000 Investment in WK Kellogg Co (NYSE:KLG)

Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in WK Kellogg Co (NYSE:KLG) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 12,420 shares of the company’s stock, valued at approximately $163,000.

A number of other hedge funds and other institutional investors have also modified their holdings of KLG. London & Capital Asset Management Ltd bought a new position in WK Kellogg in the fourth quarter valued at approximately $10,363,000. Inlet Private Wealth LLC bought a new position in shares of WK Kellogg in the fourth quarter valued at $4,038,000. Salem Investment Counselors Inc. acquired a new position in WK Kellogg during the fourth quarter worth $2,319,000. Nordea Investment Management AB acquired a new position in WK Kellogg during the fourth quarter worth $2,119,000. Finally, Oak Thistle LLC acquired a new stake in WK Kellogg in the fourth quarter valued at $1,721,000. Institutional investors and hedge funds own 95.74% of the company’s stock.

WK Kellogg Price Performance

NYSE:KLG opened at $21.95 on Thursday. The company has a quick ratio of 0.43, a current ratio of 0.84 and a debt-to-equity ratio of 1.62. WK Kellogg Co has a 52 week low of $9.65 and a 52 week high of $24.63. The firm’s 50-day simple moving average is $19.56 and its 200 day simple moving average is $14.94.

WK Kellogg (NYSE:KLG) last announced its earnings results on Tuesday, May 7th. The company reported $0.37 EPS for the quarter, hitting the consensus estimate of $0.37. The business had revenue of $707.00 million for the quarter, compared to the consensus estimate of $697.83 million. The firm’s revenue was down .7% compared to the same quarter last year. On average, analysts forecast that WK Kellogg Co will post 1.51 EPS for the current fiscal year.

WK Kellogg Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.92%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on KLG shares. Evercore ISI upped their target price on shares of WK Kellogg from $21.00 to $23.00 and gave the company an “in-line” rating in a report on Wednesday. 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 research note on Wednesday. Stifel Nicolaus lifted their target price on WK Kellogg from $20.00 to $22.00 and gave the stock a “hold” rating in a research note on Wednesday. TD Cowen increased their price target on WK Kellogg from $13.00 to $24.00 and gave the company a “hold” rating in a research note on Wednesday. Finally, Barclays lifted their price objective on shares of WK Kellogg from $12.00 to $15.00 and gave the stock an “underweight” rating in a research report on Friday, April 12th. Three investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. According to MarketBeat.com, WK Kellogg currently has an average rating of “Hold” and an average target price of $16.55.

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.