Alpha Omega Wealth Management LLC Has $220,000 Position in WK Kellogg Co (NYSE:KLG)

Alpha Omega Wealth Management LLC grew its stake in shares of WK Kellogg Co (NYSE:KLG) by 4.9% in the third quarter, Holdings Channel reports. The institutional investor owned 12,880 shares of the company’s stock after purchasing 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 filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Kapitalo Investimentos Ltda bought a new stake in WK Kellogg in the fourth quarter valued at about $39,000. Quarry LP bought a new stake in WK Kellogg in the fourth quarter valued at about $41,000. EntryPoint Capital LLC bought a new stake in WK Kellogg in the first quarter valued at about $42,000. Rothschild Investment LLC bought a new stake in WK Kellogg in the second quarter valued at about $46,000. Finally, Fisher Asset Management LLC bought a new stake in WK Kellogg in the fourth quarter valued at about $55,000. Institutional investors and hedge funds own 95.74% of the company’s stock.

Analyst Upgrades and Downgrades

KLG has been the topic of a number of analyst reports. JPMorgan Chase & Co. lowered their target price on shares of WK Kellogg from $22.00 to $17.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Barclays dropped their price objective on shares of WK Kellogg from $19.00 to $16.00 and set an “underweight” rating for the company in a report on Friday, July 19th. Bank of America lowered shares of WK Kellogg from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $24.00 to $17.00 in a report on Wednesday, July 10th. Finally, Stifel Nicolaus dropped their price objective on shares of WK Kellogg from $22.00 to $18.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. Three research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $18.50.

WK Kellogg Price Performance

Shares of WK Kellogg stock traded up $0.15 during midday trading on Friday, reaching $16.86. The company had a trading volume of 521,604 shares, compared to its average volume of 1,073,273. The company has a current ratio of 0.83, a quick ratio of 0.36 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $1.45 billion and a price-to-earnings ratio of 11.16. The stock has a fifty day simple moving average of $17.43 and a 200 day simple moving average of $18.62. WK Kellogg Co has a 1-year low of $9.65 and a 1-year high of $24.63.

WK Kellogg (NYSE:KLG) last issued its quarterly 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 company had revenue of $672.00 million during the quarter, compared to analyst estimates of $671.50 million. WK Kellogg had a net margin of 4.45% and a return on equity of 42.12%. WK Kellogg’s quarterly revenue was down 4.0% compared to the same quarter last year. As a group, equities research analysts forecast that WK Kellogg Co will post 1.5 earnings per share for the current year.

WK Kellogg Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 29th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date of this dividend 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.