40,302 Shares in WK Kellogg Co (NYSE:KLG) Purchased by Moran Wealth Management LLC

Moran Wealth Management LLC bought a new position in WK Kellogg Co (NYSE:KLG - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 40,302 shares of the company's stock, valued at approximately $530,000.

Several other institutional investors have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA bought a new stake in shares of WK Kellogg in the fourth quarter valued at about $18,412,000. London & Capital Asset Management Ltd acquired a new position in shares of WK Kellogg in the fourth quarter valued at $10,363,000. Private Management Group Inc. acquired a new position in shares of WK Kellogg in the 4th quarter valued at $8,956,000. Thompson Siegel & Walmsley LLC bought a new position in shares of WK Kellogg during the 4th quarter worth about $8,526,000. Finally, Charles Schwab Investment Management Inc. acquired a new position in WK Kellogg in the fourth quarter worth about $6,159,000. Institutional investors own 95.74% of the company's stock.

WK Kellogg Stock Performance

KLG traded up $0.49 during mid-day trading on Thursday, reaching $21.39. The stock had a trading volume of 981,247 shares, compared to its average volume of 1,142,495. WK Kellogg Co has a 52 week low of $9.65 and a 52 week high of $24.63. The company has a quick ratio of 0.43, a current ratio of 0.84 and a debt-to-equity ratio of 1.53. The firm's fifty day simple moving average is $20.25 and its two-hundred day simple moving average is $15.33.

WK Kellogg (NYSE:KLG - Get Free Report) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.37 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.37. The firm had revenue of $707.00 million during the quarter, compared to the consensus estimate of $697.83 million. The company's revenue for the quarter was down .7% compared to the same quarter last year. On average, equities research analysts forecast that WK Kellogg Co will post 1.55 earnings per share for the current year.

WK Kellogg Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 2.99%. The ex-dividend date is Friday, May 31st.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on KLG. Evercore ISI upped their price objective on WK Kellogg from $21.00 to $23.00 and gave the company an "in-line" rating in a research note on Wednesday, May 8th. Barclays boosted their target price on shares of WK Kellogg from $15.00 to $19.00 and gave the company an "underweight" rating in a research note on Thursday, May 9th. TD Cowen increased their target price on shares of WK Kellogg from $13.00 to $24.00 and gave the stock a "hold" rating in a research report on Wednesday, May 8th. Stifel Nicolaus boosted their price target on shares of WK Kellogg from $20.00 to $22.00 and gave the company a "hold" rating in a research report on Wednesday, May 8th. Finally, BNP Paribas lowered shares of WK Kellogg from a "neutral" rating to an "underperform" rating and set a $20.00 price objective for the company. in a report on Wednesday, May 8th. Three equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $16.95.

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.