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

WK Kellogg Co (NYSE:KLG) Director G Zachary Gund bought 65,000 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The shares were purchased at an average cost of $17.76 per share, for a total transaction of $1,154,400.00. Following the acquisition, the director now owns 195,000 shares of the company’s stock, valued at $3,463,200. This represents a 50.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Tuesday, November 12th, G Zachary Gund purchased 65,000 shares of WK Kellogg stock. The stock was acquired at an average price of $17.94 per share, for a total transaction of $1,166,100.00.

WK Kellogg Price Performance

KLG stock traded up $0.05 during trading on Friday, hitting $17.23. 206,579 shares of the stock traded hands, compared to its average volume of 1,034,694. The stock has a market cap of $1.48 billion and a price-to-earnings ratio of 22.09. The company has a 50 day simple moving average of $17.56 and a 200 day simple moving average of $18.01. The company has a current ratio of 0.78, a quick ratio of 0.34 and a debt-to-equity ratio of 1.49. WK Kellogg Co has a one year low of $10.83 and a one year high of $24.63.

WK Kellogg (NYSE:KLG) last issued its quarterly earnings data 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 analyst estimates of $674.10 million. WK Kellogg had a net margin of 2.50% and a return on equity of 33.41%. The company’s revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.49 EPS. Equities analysts expect that WK Kellogg Co will post 1.49 EPS for the current fiscal year.

WK Kellogg Announces Dividend

The firm 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 $0.16 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.64 annualized dividend and a dividend yield of 3.71%. WK Kellogg’s dividend payout ratio is presently 82.05%.

Wall Street Analyst Weigh In

KLG has been the topic of a number of research reports. Stifel Nicolaus dropped their price target on shares of WK Kellogg from $22.00 to $18.00 and set a “hold” rating on the stock in a research note on Tuesday, July 23rd. Barclays lifted their price target on WK Kellogg from $16.00 to $19.00 and gave the company an “underweight” rating in a report on Monday. Finally, JPMorgan Chase & Co. dropped their price objective on WK Kellogg from $22.00 to $17.00 and set a “neutral” rating on the stock in a report 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $18.88.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of KLG. PDT Partners LLC raised its position in shares of WK Kellogg by 65.5% in the third quarter. PDT Partners LLC now owns 135,396 shares of the company’s stock valued at $2,317,000 after purchasing an additional 53,603 shares during the period. Verition Fund Management LLC boosted its stake in shares of WK Kellogg by 563.8% during the third quarter. Verition Fund Management LLC now owns 333,321 shares of the company’s stock valued at $5,703,000 after purchasing an additional 283,104 shares in the last quarter. Captrust Financial Advisors raised its stake in shares of WK Kellogg by 12,352.1% during the third quarter. Captrust Financial Advisors now owns 1,516,417 shares of the company’s stock valued at $25,946,000 after acquiring an additional 1,504,239 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in WK Kellogg by 6.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 305,058 shares of the company’s stock worth $5,220,000 after buying an additional 18,016 shares during the period. Finally, MetLife Investment Management LLC boosted its holdings in WK Kellogg by 129.1% in the third quarter. MetLife Investment Management LLC now owns 38,262 shares of the company’s stock valued at $655,000 after acquiring an additional 21,559 shares during the last quarter. Institutional investors 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.