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 WK Kellogg stock in a transaction that occurred on Tuesday, November 12th. The stock was purchased at an average cost 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 $1,166,100. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

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

WK Kellogg Price Performance

KLG stock opened at $17.23 on Friday. WK Kellogg Co has a 52-week low of $10.83 and a 52-week high of $24.63. The business has a fifty day moving average of $17.54 and a two-hundred day moving average of $18.01. The stock has a market cap of $1.48 billion and a price-to-earnings ratio of 22.18. The company has a quick ratio of 0.34, a current ratio of 0.78 and a debt-to-equity ratio of 1.49.

WK Kellogg (NYSE:KLG) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.05. The firm had revenue of $689.00 million for 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 was down .4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.49 EPS. As a group, research analysts anticipate that WK Kellogg Co will post 1.49 earnings per share for the current year.

WK Kellogg Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend 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 currently 82.05%.

Institutional Trading of WK Kellogg

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in shares of 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 during the period. EntryPoint Capital LLC purchased a new position in WK Kellogg during the 1st quarter valued at about $42,000. Rothschild Investment LLC acquired a new position in WK Kellogg in the 2nd quarter valued at about $46,000. Abich Financial Wealth Management LLC increased its stake in WK Kellogg by 3,575.4% during the third 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 lifted its position in shares of WK Kellogg by 1,724.1% during 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. Hedge funds and other institutional investors own 95.74% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on KLG. Barclays upped their price objective on shares of WK Kellogg from $16.00 to $19.00 and gave the company an “underweight” rating in a research note on Monday, November 11th. Stifel Nicolaus reduced their price objective 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 objective on WK Kellogg from $22.00 to $17.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat, WK Kellogg currently has an average rating of “Hold” and an average target price 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.