Alpha Omega Wealth Management LLC Cuts Stock Position in WK Kellogg Co (NYSE:KLG)

Alpha Omega Wealth Management LLC decreased its position in WK Kellogg Co (NYSE:KLG) by 6.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,280 shares of the company’s stock after selling 800 shares during the period. Alpha Omega Wealth Management LLC’s holdings in WK Kellogg were worth $202,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of WK Kellogg during the 4th quarter worth $26,000. Brown Brothers Harriman & Co. acquired a new position in WK Kellogg during the fourth quarter worth about $27,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in WK Kellogg in the fourth quarter valued at about $31,000. Kapitalo Investimentos Ltda acquired a new stake in shares of WK Kellogg during the 4th quarter valued at approximately $39,000. Finally, Gladius Capital Management LP purchased a new stake in shares of WK Kellogg during the 4th quarter worth approximately $41,000. Institutional investors and hedge funds own 95.74% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Evercore ISI raised 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. TD Cowen raised their price target on WK Kellogg from $13.00 to $24.00 and gave the company a “hold” rating in a research report on Wednesday, May 8th. BNP Paribas lowered shares of WK Kellogg from a “neutral” rating to an “underperform” rating and set a $20.00 price objective on the stock. in a research report on Wednesday, May 8th. JPMorgan Chase & Co. dropped their target price on shares of WK Kellogg from $22.00 to $17.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Finally, Stifel Nicolaus reduced 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. Four investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat.com, WK Kellogg has an average rating of “Hold” and a consensus price target of $17.40.

WK Kellogg Stock Performance

Shares of KLG opened at $18.20 on Tuesday. WK Kellogg Co has a 1 year low of $9.65 and a 1 year high of $24.63. The company’s 50 day simple moving average is $16.85 and its 200 day simple moving average is $18.09. The company has a market capitalization of $1.56 billion and a price-to-earnings ratio of 11.23. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.43 and a current ratio of 0.84.

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 business had revenue of $672.00 million during the quarter, compared to the consensus estimate of $671.50 million. The business’s revenue for the quarter was down 4.0% on a year-over-year basis. On average, sell-side analysts predict that WK Kellogg Co will post 1.53 EPS for the current year.

WK Kellogg Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Thursday, August 29th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.52%. The ex-dividend date is Thursday, August 29th. WK Kellogg’s dividend payout ratio (DPR) is 39.51%.

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.