WK Kellogg Co (NYSE:KLG) Holdings Boosted by Alpha Omega Wealth Management LLC

Alpha Omega Wealth Management LLC grew its stake in shares of WK Kellogg Co (NYSE:KLG) by 4.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,880 shares of the company’s stock after acquiring an additional 600 shares during the period. Alpha Omega Wealth Management LLC’s holdings in WK Kellogg were worth $220,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Royal London Asset Management Ltd. purchased a new position in shares of WK Kellogg during the 4th quarter valued at $695,000. Rip Road Capital Partners LP purchased a new position in shares of WK Kellogg during the 4th quarter valued at $3,999,000. Caas Capital Management LP purchased a new position in shares of WK Kellogg during the 4th quarter valued at $2,986,000. Gabelli Funds LLC purchased a new position in shares of WK Kellogg during the 4th quarter valued at $651,000. Finally, Alaska Permanent Fund Corp grew its holdings in shares of WK Kellogg by 120.8% during the 1st quarter. Alaska Permanent Fund Corp now owns 128,361 shares of the company’s stock valued at $2,413,000 after acquiring an additional 70,229 shares in the last quarter. 95.74% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Stifel Nicolaus lowered their price target on shares of WK Kellogg from $22.00 to $18.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. Barclays reduced their price objective on shares of WK Kellogg from $19.00 to $16.00 and set an “underweight” rating for the company in a research note on Friday, July 19th. JPMorgan Chase & Co. reduced their price objective on shares of WK Kellogg from $22.00 to $17.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Finally, Bank of America lowered shares of WK Kellogg from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $24.00 to $17.00 in a research note on Wednesday, July 10th. Three equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $18.50.

WK Kellogg Stock Performance

WK Kellogg stock traded up $0.15 on Friday, reaching $16.86. 521,604 shares of the stock were exchanged, compared to its average volume of 1,073,273. The stock has a market cap of $1.45 billion and a PE ratio of 11.16. The company has a current ratio of 0.83, a quick ratio of 0.36 and a debt-to-equity ratio of 1.42. WK Kellogg Co has a twelve month low of $9.65 and a twelve month high of $24.63. The firm has a fifty day moving average price of $17.43 and a two-hundred day moving average price of $18.62.

WK Kellogg (NYSE:KLG) last released its earnings results on Tuesday, August 6th. The company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.06). The firm had revenue of $672.00 million for the quarter, compared to analyst estimates of $671.50 million. WK Kellogg had a return on equity of 42.12% and a net margin of 4.45%. WK Kellogg’s revenue for the quarter was down 4.0% on a year-over-year basis. Sell-side analysts anticipate that WK Kellogg Co will post 1.5 EPS for the current year.

WK Kellogg Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 29th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date was Thursday, August 29th. WK Kellogg’s dividend payout ratio is currently 42.38%.

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.