WK Kellogg (NYSE:KLG) Given New $16.00 Price Target at Barclays

WK Kellogg (NYSE:KLG) had its price target cut by analysts at Barclays from $19.00 to $16.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 0.33% from the company’s current price.

Separately, TD Cowen cut WK Kellogg from a “hold” rating to a “sell” rating and decreased their price target for the company from $18.00 to $16.00 in a report on Wednesday, January 8th. Four research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $18.14.

WK Kellogg Stock Performance

Shares of NYSE:KLG opened at $15.95 on Friday. WK Kellogg has a twelve month low of $12.32 and a twelve month high of $24.63. The firm has a market cap of $1.37 billion, a PE ratio of 20.44 and a beta of 0.72. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.34 and a current ratio of 0.78. The business has a fifty day moving average of $18.50 and a 200-day moving average of $17.66.

WK Kellogg (NYSE:KLG) last announced its 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 company had revenue of $689.00 million during the quarter, compared to analyst estimates of $674.10 million. WK Kellogg had a return on equity of 33.41% and a net margin of 2.50%. The firm’s quarterly revenue was down .4% compared to the same quarter last year. During the same period last year, the company posted $0.49 earnings per share. On average, equities research analysts predict that WK Kellogg will post 1.49 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director G Zachary Gund bought 65,000 shares of WK Kellogg stock in a transaction on Thursday, November 14th. The shares were purchased at an average price of $17.76 per share, for a total transaction of $1,154,400.00. Following the completion of the acquisition, the director now owns 195,000 shares in the company, valued at approximately $3,463,200. This represents a 50.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On WK Kellogg

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Alpha Omega Wealth Management LLC boosted its holdings in WK Kellogg by 4.9% during the third quarter. Alpha Omega Wealth Management LLC now owns 12,880 shares of the company’s stock worth $220,000 after buying an additional 600 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of WK Kellogg by 88.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,890 shares of the company’s stock valued at $32,000 after purchasing an additional 888 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of WK Kellogg by 13.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 16,818 shares of the company’s stock valued at $303,000 after purchasing an additional 1,955 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of WK Kellogg by 65.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 8,802 shares of the company’s stock valued at $151,000 after purchasing an additional 3,471 shares in the last quarter. Finally, Truist Financial Corp lifted its holdings in shares of WK Kellogg by 11.4% during the 2nd quarter. Truist Financial Corp now owns 38,808 shares of the company’s stock valued at $639,000 after purchasing an additional 3,970 shares in the last quarter. 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.