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

WK Kellogg Co (NYSE:KLGGet Free Report) 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.

View Our Latest Report on KLG

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:KLGGet Free Report) 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

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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.

Further Reading

Analyst Recommendations for WK Kellogg (NYSE:KLG)

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