WK Kellogg Co (NYSE:KLG) Director G Zachary Gund Acquires 65,000 Shares

WK Kellogg Co (NYSE:KLG) Director G Zachary Gund acquired 65,000 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were bought at an average cost of $17.76 per share, with a total value of $1,154,400.00. Following the transaction, the director now directly owns 195,000 shares in the company, valued at $3,463,200. This trade represents a 50.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Tuesday, November 12th, G Zachary Gund purchased 65,000 shares of WK Kellogg stock. The shares were purchased at an average price of $17.94 per share, with a total value of $1,166,100.00.

WK Kellogg Trading Up 0.3 %

NYSE:KLG traded up $0.05 during mid-day trading on Friday, reaching $17.23. The company’s stock had a trading volume of 206,579 shares, compared to its average volume of 1,034,694. WK Kellogg Co has a twelve month low of $10.83 and a twelve month high of $24.63. The company’s fifty day simple moving average is $17.56 and its two-hundred day simple moving average is $18.01. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.78 and a quick ratio of 0.34. The stock has a market cap of $1.48 billion and a P/E ratio of 22.09.

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

WK Kellogg Dividend Announcement

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

Institutional Trading of WK Kellogg

Several large investors have recently modified their holdings of the business. PDT Partners LLC raised its stake in WK Kellogg by 65.5% during the third quarter. PDT Partners LLC now owns 135,396 shares of the company’s stock valued at $2,317,000 after buying an additional 53,603 shares in the last quarter. Verition Fund Management LLC increased its holdings in shares of WK Kellogg by 563.8% in the 3rd quarter. Verition Fund Management LLC now owns 333,321 shares of the company’s stock valued at $5,703,000 after acquiring an additional 283,104 shares during the last quarter. Captrust Financial Advisors increased its holdings in shares of WK Kellogg by 12,352.1% in the 3rd quarter. Captrust Financial Advisors now owns 1,516,417 shares of the company’s stock valued at $25,946,000 after acquiring an additional 1,504,239 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in WK Kellogg by 6.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 305,058 shares of the company’s stock worth $5,220,000 after acquiring an additional 18,016 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its stake in WK Kellogg by 129.1% in the third quarter. MetLife Investment Management LLC now owns 38,262 shares of the company’s stock valued at $655,000 after acquiring an additional 21,559 shares during the period. 95.74% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on the company. JPMorgan Chase & Co. lowered their target price on WK Kellogg from $22.00 to $17.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Barclays increased their price objective on shares of WK Kellogg from $16.00 to $19.00 and gave the company an “underweight” rating in a research report on Monday. Finally, Stifel Nicolaus dropped their price target on shares of WK Kellogg from $22.00 to $18.00 and set a “hold” rating on the stock in a research note on Tuesday, July 23rd. Three analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target 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.