WK Kellogg Co (NYSE:KLG) Shares Bought by Alpha Omega Wealth Management LLC

Alpha Omega Wealth Management LLC boosted its holdings in shares of WK Kellogg Co (NYSE:KLG) by 15.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,080 shares of the company’s stock after buying an additional 1,725 shares during the period. Alpha Omega Wealth Management LLC’s holdings in WK Kellogg were worth $246,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. purchased a new stake in shares of WK Kellogg in the fourth quarter worth about $4,461,000. Lincoln Capital Corp purchased a new position in WK Kellogg during the fourth quarter worth approximately $1,026,000. Nordea Investment Management AB purchased a new position in WK Kellogg during the fourth quarter worth approximately $2,119,000. Royal London Asset Management Ltd. purchased a new position in WK Kellogg during the fourth quarter worth approximately $695,000. Finally, Rip Road Capital Partners LP purchased a new position in WK Kellogg during the fourth quarter worth approximately $3,999,000. 95.74% of the stock is owned by institutional investors and hedge funds.

WK Kellogg Stock Down 2.8 %

Shares of NYSE:KLG traded down $0.47 on Friday, hitting $16.46. 9,936,333 shares of the company’s stock were exchanged, compared to its average volume of 836,420. The firm’s 50-day moving average is $20.15 and its 200 day moving average is $16.99. The company has a market capitalization of $1.41 billion and a PE ratio of 10.29. WK Kellogg Co has a 1-year low of $9.65 and a 1-year high of $24.63. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.43 and a current ratio of 0.84.

WK Kellogg (NYSE:KLG) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.37 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.37. The business had revenue of $707.00 million for the quarter, compared to analyst estimates of $697.83 million. The firm’s quarterly revenue was down .7% on a year-over-year basis. Sell-side analysts predict that WK Kellogg Co will post 1.54 EPS for the current year.

WK Kellogg Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 3.89%. The ex-dividend date was Friday, May 31st. WK Kellogg’s payout ratio is currently 40.00%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. BNP Paribas downgraded WK Kellogg from a “neutral” rating to an “underperform” rating and set a $20.00 price target on the stock. in a research report on Wednesday, May 8th. Evercore ISI increased their target price on WK Kellogg from $21.00 to $23.00 and gave the company an “in-line” rating in a report on Wednesday, May 8th. Stifel Nicolaus increased their target price on WK Kellogg from $20.00 to $22.00 and gave the company a “hold” rating in a report on Wednesday, May 8th. Barclays increased their target price on WK Kellogg from $15.00 to $19.00 and gave the company an “underweight” rating in a report on Thursday, May 9th. Finally, TD Cowen increased their target price on WK Kellogg from $13.00 to $24.00 and gave the company a “hold” rating in a report on Wednesday, May 8th. Three investment analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $16.95.

WK Kellogg 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.