Insider Buying: WK Kellogg Co (NYSE:KLG) Director Buys 65,000 Shares of Stock

WK Kellogg Co (NYSE:KLG) Director G Zachary Gund acquired 65,000 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were bought at an average cost of $17.76 per share, with a total value of $1,154,400.00. Following the completion of the acquisition, the director now owns 195,000 shares of the company’s stock, valued at approximately $3,463,200. This trade represents a 50.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

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

WK Kellogg Stock Performance

Shares of WK Kellogg stock opened at $17.23 on Friday. The firm has a 50 day simple moving average of $17.54 and a 200 day simple moving average of $18.01. WK Kellogg Co has a fifty-two week low of $10.83 and a fifty-two week high of $24.63. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.78 and a quick ratio of 0.34. The firm has a market cap of $1.48 billion and a P/E ratio of 22.18.

WK Kellogg (NYSE:KLG) last released its earnings results on Thursday, November 7th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.05. The company had revenue of $689.00 million during the quarter, compared to the consensus estimate of $674.10 million. WK Kellogg had a return on equity of 33.41% and a net margin of 2.50%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.49 earnings per share. Sell-side analysts predict that WK Kellogg Co will post 1.49 earnings per share for the current fiscal year.

WK Kellogg Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have commented on KLG shares. Barclays boosted their price target on shares of WK Kellogg from $16.00 to $19.00 and gave the company an “underweight” rating in a research report on Monday, November 11th. Stifel Nicolaus decreased their price target 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. dropped their price target 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 equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $18.88.

Institutional Trading of WK Kellogg

A number of institutional investors have recently bought and sold shares of KLG. GAMMA Investing LLC lifted its stake in WK Kellogg by 88.6% in the third quarter. GAMMA Investing LLC now owns 1,890 shares of the company’s stock valued at $32,000 after buying an additional 888 shares during the period. EntryPoint Capital LLC bought a new position in WK Kellogg during the 1st quarter worth approximately $42,000. Rothschild Investment LLC bought a new position in WK Kellogg during the 2nd quarter worth approximately $46,000. Abich Financial Wealth Management LLC grew its holdings 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 valued at $77,000 after purchasing an additional 4,362 shares during the period. Finally, International Assets Investment Management LLC increased its stake 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 valued at $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.

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.