WK Kellogg (NYSE:KLG) Trading Down 8.6% – Time to Sell?

WK Kellogg Co (NYSE:KLG) was down 8.6% during trading on Wednesday . The stock traded as low as $15.94 and last traded at $16.00. Approximately 216,692 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 713,945 shares. The stock had previously closed at $17.50.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. TD Cowen lowered shares of WK Kellogg from a “hold” rating to a “sell” rating and dropped their target price for the stock from $18.00 to $16.00 in a report on Wednesday. Barclays boosted their target price on WK Kellogg from $16.00 to $19.00 and gave the company an “underweight” rating in a research note on Monday, November 11th. Four equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $18.57.

WK Kellogg Stock Performance

The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.34 and a current ratio of 0.78. The business’s 50-day moving average is $18.72 and its 200-day moving average is $17.72. The company has a market capitalization of $1.39 billion, a PE ratio of 20.64 and a beta of 0.72.

WK Kellogg (NYSE:KLG) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.05. The firm had revenue of $689.00 million for the quarter, compared to analysts’ expectations of $674.10 million. WK Kellogg had a return on equity of 33.41% and a net margin of 2.50%. The business’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.49 EPS. On average, research analysts anticipate that WK Kellogg Co will post 1.49 earnings per share for the current year.

WK Kellogg Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were paid a dividend of $0.16 per share. The ex-dividend date was Friday, November 29th. This represents a $0.64 dividend on an annualized basis and a yield of 3.98%. WK Kellogg’s dividend payout ratio is currently 82.05%.

Insider Transactions at WK Kellogg

In other WK Kellogg news, Director G Zachary Gund bought 65,000 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was acquired at an average price 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 $3,463,200. This represents a 50.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.90% of the company’s stock.

Institutional Trading of WK Kellogg

A number of large investors have recently made changes to their positions in KLG. GAMMA Investing LLC increased its position in WK Kellogg by 88.6% during the third 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. Abich Financial Wealth Management LLC grew its stake in shares of WK Kellogg by 3,575.4% during the 3rd quarter. Abich Financial Wealth Management LLC now owns 4,484 shares of the company’s stock valued at $77,000 after purchasing an additional 4,362 shares during the period. International Assets Investment Management LLC increased its position 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 valued at $80,000 after purchasing an additional 4,431 shares during the last quarter. nVerses Capital LLC bought a new position in shares of WK Kellogg in the 3rd quarter worth approximately $99,000. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of WK Kellogg by 65.1% in the third quarter. Nisa Investment Advisors LLC now owns 8,802 shares of the company’s stock worth $151,000 after buying an additional 3,471 shares during the last quarter. 95.74% of the stock is currently owned by institutional investors.

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.