WK Kellogg Target of Unusually Large Options Trading (NYSE:KLG)

WK Kellogg Co. (NYSE:KLG - Get Free Report) was the recipient of some unusual options trading on Thursday. Stock investors acquired 12,055 call options on the company. This represents an increase of approximately 2,116% compared to the typical daily volume of 544 call options.

WK Kellogg Stock Up 0.1%

Shares of KLG traded up $0.02 during midday trading on Friday, reaching $22.88. 6,886,511 shares of the company were exchanged, compared to its average volume of 1,146,089. The company has a current ratio of 0.78, a quick ratio of 0.34 and a debt-to-equity ratio of 1.54. WK Kellogg has a 1-year low of $14.80 and a 1-year high of $22.96. The stock has a 50-day moving average price of $16.95 and a 200-day moving average price of $17.86. The company has a market cap of $1.97 billion, a price-to-earnings ratio of 35.75 and a beta of 0.23.

WK Kellogg (NYSE:KLG - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.21). WK Kellogg had a return on equity of 34.88% and a net margin of 2.14%. The business had revenue of $667.00 million during the quarter, compared to analyst estimates of $677.91 million. During the same quarter last year, the firm posted $0.37 EPS. The company's revenue was down 6.2% compared to the same quarter last year. Research analysts expect that WK Kellogg will post 1.57 earnings per share for the current year.

WK Kellogg Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were paid a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 2.88%. The ex-dividend date was Friday, May 30th. WK Kellogg's dividend payout ratio (DPR) is 103.13%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Ancora Advisors LLC increased its holdings in WK Kellogg by 181.8% in the fourth quarter. Ancora Advisors LLC now owns 1,519 shares of the company's stock valued at $27,000 after buying an additional 980 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in WK Kellogg in the fourth quarter valued at about $36,000. Wealthfront Advisers LLC bought a new stake in WK Kellogg in the fourth quarter valued at about $44,000. Curat Global LLC bought a new stake in WK Kellogg in the first quarter valued at about $66,000. Finally, Summit Securities Group LLC bought a new stake in WK Kellogg in the fourth quarter valued at about $70,000. Institutional investors and hedge funds own 95.74% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Wall Street Zen upgraded WK Kellogg from a "sell" rating to a "hold" rating in a report on Sunday. Evercore ISI boosted their price objective on WK Kellogg from $19.00 to $23.00 and gave the stock an "in-line" rating in a research note on Friday. Cowen upgraded WK Kellogg from a "sell" rating to a "hold" rating in a research note on Friday. Finally, Morgan Stanley assumed coverage on WK Kellogg in a research note on Monday, March 24th. They set an "underweight" rating and a $18.00 price objective on the stock. Three research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $17.71.

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.