Alpha Omega Wealth Management LLC Has $246,000 Stake in WK Kellogg Co (NYSE:KLG)

Alpha Omega Wealth Management LLC boosted its holdings in WK Kellogg Co (NYSE:KLG) by 15.2% in the 1st quarter, Holdings Channel.com reports. The firm owned 13,080 shares of the company’s stock after acquiring an additional 1,725 shares during the period. Alpha Omega Wealth Management LLC’s holdings in WK Kellogg were worth $246,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Principal Financial Group Inc. bought a new position in WK Kellogg in the 4th quarter valued at about $4,461,000. Lincoln Capital Corp bought a new position in WK Kellogg in the 4th quarter valued at about $1,026,000. Nordea Investment Management AB bought a new position in WK Kellogg in the 4th quarter valued at about $2,119,000. Royal London Asset Management Ltd. bought a new position in WK Kellogg in the 4th quarter valued at about $695,000. Finally, Rip Road Capital Partners LP bought a new position in WK Kellogg in the 4th quarter valued at about $3,999,000. Institutional investors and hedge funds own 95.74% of the company’s stock.

WK Kellogg Trading Down 2.8 %

NYSE KLG traded down $0.47 on Friday, hitting $16.46. The company’s stock had a trading volume of 9,936,333 shares, compared to its average volume of 836,420. The company has a quick ratio of 0.43, a current ratio of 0.84 and a debt-to-equity ratio of 1.53. WK Kellogg Co has a 1-year low of $9.65 and a 1-year high of $24.63. The company’s 50-day moving average is $20.15 and its 200 day moving average is $16.99. The firm has a market cap of $1.41 billion and a PE ratio of 10.29.

WK Kellogg (NYSE:KLG) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.37 EPS for the quarter, meeting analysts’ consensus estimates of $0.37. The firm had revenue of $707.00 million during the quarter, compared to the consensus estimate of $697.83 million. The firm’s quarterly revenue was down .7% on a year-over-year basis. As a group, analysts predict that WK Kellogg Co will post 1.54 earnings per share for the current fiscal year.

WK Kellogg Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date was Friday, May 31st. WK Kellogg’s dividend payout ratio is currently 40.00%.

Wall Street Analyst Weigh In

Several equities analysts have commented on KLG shares. BNP Paribas lowered shares of WK Kellogg from a “neutral” rating to an “underperform” rating and set a $20.00 target price on the stock. in a report on Wednesday, May 8th. Barclays upped their price objective on shares of WK Kellogg from $15.00 to $19.00 and gave the stock an “underweight” rating in a research report on Thursday, May 9th. TD Cowen upped their price objective 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 upped their price objective on shares of WK Kellogg from $20.00 to $22.00 and gave the stock a “hold” rating in a research report on Wednesday, May 8th. Finally, Evercore ISI upped their price objective on shares of WK Kellogg from $21.00 to $23.00 and gave the stock an “in-line” rating in a research report on Wednesday, May 8th. Three analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average 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.