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

WK Kellogg Co (NYSE:KLG) Director G Zachary Gund bought 65,000 shares of the company’s 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 acquisition, the director now directly owns 65,000 shares of the company’s stock, valued at $1,166,100. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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, with a total value of $1,154,400.00.

WK Kellogg Stock Up 0.3 %

WK Kellogg stock opened at $17.23 on Friday. The stock has a 50 day moving average of $17.54 and a two-hundred day moving average of $18.01. WK Kellogg Co has a twelve month low of $10.83 and a twelve month high of $24.63. The stock has a market capitalization of $1.48 billion and a price-to-earnings ratio of 22.18. 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 (NYSE:KLG) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.05. The firm had revenue of $689.00 million during 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 revenue for the quarter was down .4% on a year-over-year basis. During the same period last year, the company earned $0.49 earnings per share. As a group, research analysts expect that WK Kellogg Co will post 1.49 earnings per share for the current year.

WK Kellogg Dividend Announcement

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Captrust Financial Advisors raised its position in WK Kellogg by 12,352.1% in the third quarter. Captrust Financial Advisors now owns 1,516,417 shares of the company’s stock worth $25,946,000 after acquiring an additional 1,504,239 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of WK Kellogg by 579.1% in the second quarter. AQR Capital Management LLC now owns 1,403,854 shares of the company’s stock valued at $23,107,000 after purchasing an additional 1,197,133 shares during the period. Rodgers Brothers Inc. boosted its holdings in WK Kellogg by 2,253.3% during the first quarter. Rodgers Brothers Inc. now owns 623,468 shares of the company’s stock worth $11,721,000 after buying an additional 596,975 shares in the last quarter. Jupiter Asset Management Ltd. grew its position in WK Kellogg by 1,876.1% during the first quarter. Jupiter Asset Management Ltd. now owns 531,108 shares of the company’s stock worth $9,985,000 after buying an additional 504,232 shares during the period. Finally, Jacobs Levy Equity Management Inc. purchased a new position in WK Kellogg in the first quarter valued at about $8,998,000. 95.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on KLG shares. Stifel Nicolaus reduced their target price on WK Kellogg from $22.00 to $18.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. Barclays boosted their price objective on WK Kellogg from $16.00 to $19.00 and gave the company an “underweight” rating in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. lowered their target price on shares of 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 assigned a hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $18.88.

About WK Kellogg

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.