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

WK Kellogg Co (NYSE:KLG) Director G Zachary Gund bought 65,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was purchased at an average price of $17.94 per share, with a total value of $1,166,100.00. Following the completion of the purchase, the director now owns 65,000 shares in the company, valued at approximately $1,166,100. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

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

WK Kellogg Stock Performance

Shares of KLG stock traded up $0.05 during midday trading on Friday, hitting $17.23. The company had a trading volume of 206,579 shares, compared to its average volume of 1,034,694. The company’s 50 day simple moving average is $17.56 and its 200 day simple moving average is $18.01. WK Kellogg Co has a 52-week low of $10.83 and a 52-week high of $24.63. 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 price-to-earnings ratio of 22.09.

WK Kellogg (NYSE:KLG) last issued its earnings results 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 company had revenue of $689.00 million during the quarter, compared to analysts’ expectations of $674.10 million. WK Kellogg had a net margin of 2.50% and a return on equity of 33.41%. The firm’s quarterly revenue was down .4% compared to the same quarter last year. During the same period last year, the company posted $0.49 earnings per share. Research analysts anticipate that WK Kellogg Co will post 1.49 earnings per share for the current fiscal 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 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 3.71%. WK Kellogg’s dividend payout ratio (DPR) is presently 82.05%.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On WK Kellogg

Institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in WK Kellogg by 88.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,890 shares of the company’s stock valued at $32,000 after acquiring an additional 888 shares during the last quarter. EntryPoint Capital LLC purchased a new position in WK Kellogg during the first quarter worth about $42,000. Rothschild Investment LLC acquired a new position in shares of WK Kellogg during the 2nd quarter valued at about $46,000. Abich Financial Wealth Management LLC raised its holdings in shares of WK Kellogg by 3,575.4% in the 3rd quarter. Abich Financial Wealth Management LLC now owns 4,484 shares of the company’s stock worth $77,000 after purchasing an additional 4,362 shares during the period. Finally, International Assets Investment Management LLC grew its holdings in shares of WK Kellogg by 1,724.1% during the 3rd quarter. International Assets Investment Management LLC now owns 4,688 shares of the company’s stock worth $80,000 after purchasing an additional 4,431 shares during the period. Hedge funds and other institutional investors own 95.74% of the company’s stock.

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.