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

WK Kellogg Co (NYSE:KLG) Director G Zachary Gund purchased 65,000 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were acquired at an average price of $17.76 per share, for a total transaction of $1,154,400.00. Following the purchase, the director now owns 195,000 shares in the company, valued at $3,463,200. The trade was a 50.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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 stock was acquired at an average cost of $17.94 per share, with a total value of $1,166,100.00.

WK Kellogg Trading Up 0.3 %

WK Kellogg stock opened at $17.23 on Friday. The business’s 50-day simple moving average is $17.54 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 firm has a market capitalization of $1.48 billion and a PE ratio of 22.18. 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 (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. WK Kellogg had a return on equity of 33.41% and a net margin of 2.50%. The company had revenue of $689.00 million for the quarter, compared to the consensus estimate of $674.10 million. During the same period in the previous year, the business posted $0.49 EPS. The company’s revenue for the quarter was down .4% on a year-over-year basis. Equities research analysts forecast that WK Kellogg Co will post 1.49 earnings per share for the current year.

WK Kellogg Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. 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 report on Tuesday, July 23rd. Barclays raised 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. reduced their target price on WK Kellogg from $22.00 to $17.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Three investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $18.88.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its stake in WK Kellogg by 88.6% during the third quarter. GAMMA Investing LLC now owns 1,890 shares of the company’s stock worth $32,000 after buying an additional 888 shares in the last quarter. EntryPoint Capital LLC bought a new position in shares of WK Kellogg during the 1st quarter worth about $42,000. Rothschild Investment LLC acquired a new stake in shares of WK Kellogg during the 2nd quarter valued at about $46,000. Abich Financial Wealth Management LLC increased its stake in WK Kellogg by 3,575.4% in the third quarter. Abich Financial Wealth Management LLC now owns 4,484 shares of the company’s stock valued at $77,000 after acquiring an additional 4,362 shares during the period. Finally, International Assets Investment Management LLC raised its position in WK Kellogg by 1,724.1% in the third 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 in the last quarter. Institutional investors and hedge funds 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.