Lincoln Capital Corp Buys New Shares in WK Kellogg Co (NYSE:KLG)

Lincoln Capital Corp bought a new stake in WK Kellogg Co (NYSE:KLG) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 78,090 shares of the company’s stock, valued at approximately $1,026,000.

Other institutional investors have also recently bought and sold shares of the company. Nordea Investment Management AB purchased a new stake in WK Kellogg in the fourth quarter valued at approximately $2,119,000. Salem Investment Counselors Inc. acquired a new position in WK Kellogg during the fourth quarter valued at approximately $2,319,000. North Star Investment Management Corp. acquired a new position in WK Kellogg during the fourth quarter valued at approximately $470,000. Daymark Wealth Partners LLC acquired a new position in WK Kellogg during the fourth quarter valued at approximately $976,000. Finally, Financiere des Professionnels Fonds d investissement inc. acquired a new position in WK Kellogg during the fourth quarter valued at approximately $36,000. 95.74% of the stock is currently owned by hedge funds and other institutional investors.

WK Kellogg Trading Down 1.2 %

KLG traded down $0.22 during trading on Wednesday, hitting $18.87. The company had a trading volume of 1,127,042 shares, compared to its average volume of 1,150,818. The stock has a 50-day moving average of $14.73. 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 Co has a 1-year low of $9.65 and a 1-year high of $21.00.

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

WK Kellogg Announces Dividend

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

Wall Street Analysts Forecast Growth

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

WK Kellogg Company Profile

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.