WK Kellogg (NYSE:KLG) Price Target Raised to $19.00

WK Kellogg (NYSE:KLG) had its target price lifted by Barclays from $16.00 to $19.00 in a research note published on Monday morning,Benzinga reports. Barclays currently has an underweight rating on the stock.

Other research analysts have also issued research reports about the stock. Stifel Nicolaus reduced their price objective on shares of WK Kellogg from $22.00 to $18.00 and set a “hold” rating on the stock in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. lowered their price objective on shares of WK Kellogg from $22.00 to $17.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Three analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $18.88.

WK Kellogg Trading Down 0.6 %

KLG opened at $17.45 on Monday. WK Kellogg has a fifty-two week low of $10.46 and a fifty-two week high of $24.63. The company has a market cap of $1.50 billion and a price-to-earnings ratio of 22.37. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.78 and a quick ratio of 0.34. The firm has a 50 day simple moving average of $17.55 and a 200 day simple moving average of $18.02.

WK Kellogg (NYSE:KLG) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.05. WK Kellogg had a return on equity of 33.41% and a net margin of 2.50%. The business had revenue of $689.00 million for the quarter, compared to analyst estimates of $674.10 million. During the same period last year, the company earned $0.49 EPS. The firm’s revenue was down .4% on a year-over-year basis. On average, sell-side analysts anticipate that WK Kellogg will post 1.49 earnings per share for the current year.

WK Kellogg Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.67%. WK Kellogg’s payout ratio is presently 82.05%.

Institutional Investors Weigh In On WK Kellogg

Several institutional investors have recently bought and sold shares of KLG. MetLife Investment Management LLC grew its stake in shares of WK Kellogg by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 38,262 shares of the company’s stock worth $655,000 after acquiring an additional 21,559 shares in the last quarter. D.A. Davidson & CO. grew its position in WK Kellogg by 10.9% in the third quarter. D.A. Davidson & CO. now owns 123,684 shares of the company’s stock valued at $2,116,000 after purchasing an additional 12,113 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in WK Kellogg by 7.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,112,558 shares of the company’s stock valued at $19,036,000 after buying an additional 79,808 shares during the last quarter. Landscape Capital Management L.L.C. bought a new stake in WK Kellogg during the 3rd quarter worth about $1,507,000. Finally, Intech Investment Management LLC acquired a new position in shares of WK Kellogg during the 3rd quarter worth about $997,000. Institutional investors own 95.74% of the company’s stock.

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.