Brokerages Set WK Kellogg Co (NYSE:KLG) Target Price at $18.88

WK Kellogg Co (NYSE:KLG) has been assigned a consensus rating of “Reduce” from the eight research firms that are presently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a sell rating and five have issued a hold rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $18.88.

KLG has been the subject of several research analyst reports. Barclays upped their price objective on shares of WK Kellogg from $16.00 to $19.00 and gave the company an “underweight” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. reduced 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.

WK Kellogg Stock Performance

NYSE KLG opened at $21.56 on Thursday. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.78 and a quick ratio of 0.34. WK Kellogg has a 1 year low of $10.99 and a 1 year high of $24.63. The company has a market capitalization of $1.86 billion and a PE ratio of 27.64. The company has a fifty day moving average of $17.63 and a two-hundred day moving average of $17.69.

WK Kellogg (NYSE:KLG) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.05. WK Kellogg had a net margin of 2.50% and a return on equity of 33.41%. The company had revenue of $689.00 million during the quarter, compared to the consensus estimate of $674.10 million. During the same quarter in the prior year, the firm posted $0.49 earnings per share. WK Kellogg’s revenue for the quarter was down .4% on a year-over-year basis. As a group, analysts expect that WK Kellogg will post 1.49 earnings per share for the current year.

WK Kellogg Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a $0.16 dividend. 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 2.97%. WK Kellogg’s payout ratio is 82.05%.

Insider Buying and Selling

In other news, Director G Zachary Gund purchased 65,000 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was purchased at an average cost of $17.76 per share, with a total value of $1,154,400.00. Following the completion of the acquisition, the director now directly owns 195,000 shares of the company’s stock, valued at approximately $3,463,200. This trade represents a 50.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Royce & Associates LP raised its holdings in WK Kellogg by 199.8% during the third quarter. Royce & Associates LP now owns 71,987 shares of the company’s stock worth $1,232,000 after purchasing an additional 47,973 shares in the last quarter. Seven Eight Capital LP purchased a new position in WK Kellogg in the second quarter valued at about $577,000. Abundance Wealth Counselors purchased a new position in WK Kellogg in the second quarter valued at about $613,000. Atlas Financial Advisors Inc. purchased a new position in WK Kellogg in the third quarter valued at about $818,000. Finally, Acadian Asset Management LLC increased its holdings in WK Kellogg by 64,642.1% in the second quarter. Acadian Asset Management LLC now owns 73,806 shares of the company’s stock valued at $1,213,000 after buying an additional 73,692 shares in the last quarter. 95.74% of the stock is owned by hedge funds and other institutional investors.

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.