WK Kellogg Co (NYSE:KLG) Director Purchases $1,166,100.00 in Stock

WK Kellogg Co (NYSE:KLG) Director G Zachary Gund purchased 65,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was acquired at an average cost of $17.94 per share, for a total transaction of $1,166,100.00. Following the completion of the acquisition, the director now owns 65,000 shares in the company, valued at $1,166,100. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website.

G Zachary Gund also recently made the following trade(s):

• On Thursday, November 14th, G Zachary Gund acquired 65,000 shares of WK Kellogg stock. The shares were bought at an average price of $17.76 per share, for a total transaction of $1,154,400.00.

WK Kellogg Stock Up 0.3 %

Shares of NYSE KLG opened at $17.23 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.34 and a debt-to-equity ratio of 1.49. WK Kellogg Co has a 12-month low of $10.83 and a 12-month high of $24.63. The firm’s 50-day moving average price is $17.52 and its 200-day moving average price is $17.96. The stock has a market capitalization of $1.48 billion and a price-to-earnings ratio of 22.09.

WK Kellogg (NYSE:KLG) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.05. The business had revenue of $689.00 million for the quarter, compared to the consensus estimate of $674.10 million. WK Kellogg had a return on equity of 33.41% and a net margin of 2.50%. The company’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.49 earnings per share. On average, equities research analysts anticipate that WK Kellogg Co will post 1.49 EPS for the current fiscal year.

WK Kellogg Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.71%. The ex-dividend date of this dividend is Friday, November 29th. WK Kellogg’s payout ratio is 82.05%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of KLG. GAMMA Investing LLC lifted its holdings in shares of WK Kellogg by 88.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,890 shares of the company’s stock worth $32,000 after acquiring an additional 888 shares during the last quarter. EntryPoint Capital LLC bought a new stake in WK Kellogg in the first quarter worth about $42,000. Rothschild Investment LLC bought a new stake in WK Kellogg in the second quarter worth about $46,000. Abich Financial Wealth Management LLC boosted its position in shares of WK Kellogg by 3,575.4% during the third quarter. Abich Financial Wealth Management LLC now owns 4,484 shares of the company’s stock valued at $77,000 after buying an additional 4,362 shares during the period. Finally, International Assets Investment Management LLC raised its holdings in shares of WK Kellogg by 1,724.1% in the third quarter. International Assets Investment Management LLC now owns 4,688 shares of the company’s stock worth $80,000 after buying an additional 4,431 shares during the period. Institutional investors own 95.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on KLG shares. Stifel Nicolaus cut their target price on shares of WK Kellogg from $22.00 to $18.00 and set a “hold” rating for the company in a research note on Tuesday, July 23rd. Barclays raised their price objective on WK Kellogg from $16.00 to $19.00 and gave the company an “underweight” rating in a research report on Monday, November 11th. Finally, JPMorgan Chase & Co. decreased their target price on WK Kellogg from $22.00 to $17.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Three analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $18.88.

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.