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

WK Kellogg Co (NYSE:KLG) Director G Zachary Gund acquired 65,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were bought at an average price of $17.94 per share, with a total value of $1,166,100.00. Following the acquisition, the director now directly owns 65,000 shares in the company, valued at $1,166,100. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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 shares were purchased at an average cost of $17.76 per share, for a total transaction of $1,154,400.00.

WK Kellogg Stock Up 0.3 %

Shares of WK Kellogg stock opened at $17.23 on Friday. The company has a quick ratio of 0.34, a current ratio of 0.78 and a debt-to-equity ratio of 1.49. The company has a market cap of $1.48 billion and a P/E ratio of 22.09. The firm’s 50 day moving average price is $17.52 and its 200-day moving average price is $17.96. WK Kellogg Co has a 52-week low of $10.83 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 (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.05. WK Kellogg had a net margin of 2.50% and a return on equity of 33.41%. The business had revenue of $689.00 million for the quarter, compared to analyst estimates of $674.10 million. During the same period in the previous year, the company earned $0.49 earnings per share. The business’s revenue for the quarter was down .4% on a year-over-year basis. On average, sell-side analysts predict that WK Kellogg Co will post 1.49 EPS 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 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 payout ratio is 82.05%.

Hedge Funds Weigh In On WK Kellogg

Several hedge funds have recently modified their holdings of the stock. Captrust Financial Advisors grew its position in WK Kellogg by 12,352.1% during the 3rd quarter. Captrust Financial Advisors now owns 1,516,417 shares of the company’s stock worth $25,946,000 after purchasing an additional 1,504,239 shares during the last quarter. Geode Capital Management LLC raised its stake in WK Kellogg by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,507,713 shares of the company’s stock worth $25,802,000 after acquiring an additional 38,939 shares during the last quarter. AQR Capital Management LLC lifted its position in WK Kellogg by 579.1% during 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. Jacobs Levy Equity Management Inc. grew its stake in WK Kellogg by 31.1% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,124,503 shares of the company’s stock valued at $19,240,000 after purchasing an additional 266,877 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of WK Kellogg by 7.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,112,558 shares of the company’s stock valued at $19,036,000 after purchasing an additional 79,808 shares during the period. Institutional investors and hedge funds own 95.74% of the company’s stock.

Analyst Ratings Changes

KLG has been the subject of a number of research reports. Barclays upped their price objective on shares of WK Kellogg from $16.00 to $19.00 and gave the stock an “underweight” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. dropped their price objective on shares of WK Kellogg from $22.00 to $17.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Finally, Stifel Nicolaus cut their price objective on shares of WK Kellogg from $22.00 to $18.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. Three equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price 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.