WK Kellogg Co (NYSE:KLG) Given Consensus Rating of “Reduce” by Brokerages

Shares of WK Kellogg Co (NYSE:KLG) have been given an average rating of “Reduce” by the seven research firms that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $19.71.

Separately, Barclays raised their price target on WK Kellogg from $16.00 to $19.00 and gave the stock an “underweight” rating in a research note on Monday, November 11th.

Insiders Place Their Bets

In other news, Director G Zachary Gund purchased 65,000 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were acquired at an average cost of $17.76 per share, for a total transaction of $1,154,400.00. Following the completion of the purchase, the director now directly owns 195,000 shares in the company, valued at $3,463,200. The trade was a 50.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.90% of the stock is owned by insiders.

Institutional Investors Weigh In On WK Kellogg

A number of institutional investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. lifted its holdings in WK Kellogg by 13.3% in the third quarter. Franklin Resources Inc. now owns 170,161 shares of the company’s stock valued at $3,010,000 after acquiring an additional 20,033 shares during the period. Sanctuary Advisors LLC purchased a new position in shares of WK Kellogg in the 3rd quarter valued at about $515,000. Geode Capital Management LLC lifted its stake in shares of WK Kellogg by 2.7% in the third quarter. Geode Capital Management LLC now owns 1,507,713 shares of the company’s stock valued at $25,802,000 after purchasing an additional 38,939 shares during the period. Barclays PLC boosted its holdings in WK Kellogg by 406.6% during the third quarter. Barclays PLC now owns 128,710 shares of the company’s stock worth $2,202,000 after buying an additional 103,301 shares in the last quarter. Finally, Stifel Financial Corp grew its position in WK Kellogg by 107.3% during the third quarter. Stifel Financial Corp now owns 28,409 shares of the company’s stock worth $486,000 after buying an additional 14,705 shares during the period. Hedge funds and other institutional investors own 95.74% of the company’s stock.

WK Kellogg Stock Up 0.2 %

KLG stock opened at $17.92 on Monday. The company’s 50 day moving average is $18.61 and its two-hundred day moving average is $17.73. WK Kellogg has a twelve month low of $12.28 and a twelve month high of $24.63. The company has a current ratio of 0.78, a quick ratio of 0.34 and a debt-to-equity ratio of 1.49. The stock has a market cap of $1.54 billion, a P/E ratio of 22.97 and a beta of 0.07.

WK Kellogg (NYSE:KLG) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.05. The firm had revenue of $689.00 million during the quarter, compared to analysts’ expectations of $674.10 million. WK Kellogg had a net margin of 2.50% and a return on equity of 33.41%. WK Kellogg’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.49 earnings per share. Research analysts expect that WK Kellogg will post 1.49 earnings per share for the current fiscal year.

WK Kellogg Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.57%. The ex-dividend date of this dividend was Friday, November 29th. WK Kellogg’s dividend payout ratio (DPR) is presently 82.05%.

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.