Insider Buying: WK Kellogg Co (NYSE:KLG) Director Acquires 65,000 Shares of Stock

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 acquired at an average cost of $17.76 per share, with a total value of $1,154,400.00. Following the transaction, the director now owns 195,000 shares in the company, valued at approximately $3,463,200. The trade was a 50.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

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

WK Kellogg Stock Down 1.5 %

Shares of WK Kellogg stock traded down $0.27 during midday trading on Thursday, reaching $17.18. 986,165 shares of the company’s stock traded hands, compared to its average volume of 1,038,432. The company has a market cap of $1.48 billion and a price-to-earnings ratio of 22.83. The company’s 50 day simple moving average is $17.56 and its 200 day simple moving average is $18.01. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.34 and a current ratio of 0.78. WK Kellogg Co has a 52 week low of $10.60 and a 52 week high of $24.63.

WK Kellogg (NYSE:KLG) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.31 earnings per share 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 net margin of 2.50% and a return on equity of 33.41%. WK Kellogg’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter last year, the firm earned $0.49 EPS. Equities analysts expect that WK Kellogg Co will post 1.49 earnings per share for the current fiscal year.

WK Kellogg Announces Dividend

The firm also recently declared 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. The ex-dividend date is Friday, November 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.73%. WK Kellogg’s dividend payout ratio is currently 82.05%.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Captrust Financial Advisors raised its holdings in WK Kellogg by 12,352.1% in the 3rd 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 during the period. AQR Capital Management LLC raised its holdings in WK Kellogg by 579.1% in the 2nd quarter. AQR Capital Management LLC now owns 1,403,854 shares of the company’s stock worth $23,107,000 after acquiring an additional 1,197,133 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in WK Kellogg by 7.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,112,558 shares of the company’s stock worth $19,036,000 after acquiring an additional 79,808 shares during the period. Bank of New York Mellon Corp raised its holdings in WK Kellogg by 9.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 904,699 shares of the company’s stock worth $14,891,000 after acquiring an additional 77,262 shares during the period. Finally, Jupiter Asset Management Ltd. raised its holdings in WK Kellogg by 64.4% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 873,047 shares of the company’s stock worth $14,370,000 after acquiring an additional 341,939 shares during the period. Institutional investors own 95.74% of the company’s stock.

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.