WK Kellogg (NYSE:KLG) Stock Price Down 4.6% – What’s Next?

WK Kellogg Co (NYSE:KLG)’s stock price dropped 4.6% on Wednesday . The company traded as low as $19.17 and last traded at $19.20. Approximately 447,398 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 1,036,822 shares. The stock had previously closed at $20.12.

Wall Street Analysts Forecast Growth

Separately, Barclays boosted their target price on WK Kellogg from $16.00 to $19.00 and gave the stock an “underweight” rating in a research report on Monday, November 11th. Three investment analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to MarketBeat, WK Kellogg has a consensus rating of “Hold” and a consensus target price of $19.71.

WK Kellogg Stock Down 9.4 %

The stock has a market cap of $1.57 billion, a PE ratio of 23.37 and a beta of 0.07. 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 company’s 50-day moving average price is $18.57 and its 200 day moving average price is $17.73.

WK Kellogg (NYSE:KLG) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.31 earnings per share (EPS) for the quarter, beating 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 revenue was down .4% on a year-over-year basis. During the same period in the previous year, the company posted $0.49 EPS. As a group, analysts forecast that WK Kellogg Co will post 1.49 EPS for the current fiscal year.

WK Kellogg Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors 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 dividend yield of 3.51%. WK Kellogg’s dividend payout ratio (DPR) is presently 82.05%.

Insider Activity at WK Kellogg

In other WK Kellogg news, Director G Zachary Gund purchased 65,000 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was acquired at an average cost of $17.76 per share, for a total transaction of $1,154,400.00. Following the purchase, the director now directly owns 195,000 shares of the company’s stock, valued at $3,463,200. This trade represents a 50.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its stake in WK Kellogg by 88.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,890 shares of the company’s stock worth $32,000 after purchasing an additional 888 shares during the period. Rothschild Investment LLC bought a new position in shares of WK Kellogg during the 2nd quarter valued at approximately $46,000. Abich Financial Wealth Management LLC boosted its position 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 acquiring an additional 4,362 shares during the last quarter. International Assets Investment Management LLC boosted 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 acquiring an additional 4,431 shares during the last quarter. Finally, nVerses Capital LLC bought a new position in shares of WK Kellogg during the 3rd quarter valued at approximately $99,000. 95.74% of the stock is currently owned by institutional investors.

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.