WK Kellogg (NYSE:KLG) Now Covered by Analysts at Morgan Stanley

Stock analysts at Morgan Stanley started coverage on shares of WK Kellogg (NYSE:KLG) in a report released on Monday,Benzinga reports. The brokerage set an “underweight” rating and a $18.00 price target on the stock. Morgan Stanley’s target price would indicate a potential downside of 3.82% from the stock’s current price.

Several other brokerages have also weighed in on KLG. Barclays cut their price objective on shares of WK Kellogg from $19.00 to $16.00 and set an “underweight” rating on the stock in a research report on Friday, January 17th. TD Cowen downgraded shares of WK Kellogg from a “hold” rating to a “sell” rating and cut their price target for the company from $18.00 to $16.00 in a report on Wednesday, January 8th. Jefferies Financial Group reduced their price objective on shares of WK Kellogg from $19.00 to $16.00 and set a “hold” rating for the company in a research note on Tuesday, January 28th. Finally, Stifel Nicolaus lowered their target price on shares of WK Kellogg from $19.00 to $18.00 and set a “hold” rating on the stock in a research report on Friday, January 24th. Five analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat, WK Kellogg currently has an average rating of “Reduce” and an average price target of $17.89.

WK Kellogg Trading Up 0.1 %

NYSE KLG opened at $18.72 on Monday. The company has a current ratio of 0.74, a quick ratio of 0.32 and a debt-to-equity ratio of 1.45. WK Kellogg has a 1-year low of $15.17 and a 1-year high of $24.63. The firm’s fifty day simple moving average is $18.23 and its 200-day simple moving average is $18.19. The company has a market capitalization of $1.61 billion, a PE ratio of 23.10, a price-to-earnings-growth ratio of 2.01 and a beta of 0.30.

WK Kellogg (NYSE:KLG) last issued its earnings results on Tuesday, February 11th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.14. WK Kellogg had a return on equity of 39.81% and a net margin of 2.66%. As a group, sell-side analysts anticipate that WK Kellogg will post 1.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On WK Kellogg

Large investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its holdings in shares of WK Kellogg by 11.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,240,046 shares of the company’s stock valued at $22,308,000 after buying an additional 127,488 shares during the last quarter. Victory Capital Management Inc. increased its position in WK Kellogg by 1,217.5% in the 4th quarter. Victory Capital Management Inc. now owns 233,997 shares of the company’s stock valued at $4,210,000 after acquiring an additional 216,236 shares in the last quarter. Royce & Associates LP raised its stake in shares of WK Kellogg by 46.0% in the fourth quarter. Royce & Associates LP now owns 105,134 shares of the company’s stock worth $1,891,000 after acquiring an additional 33,147 shares during the last quarter. Alberta Investment Management Corp bought a new position in shares of WK Kellogg in the fourth quarter worth about $2,022,000. Finally, Barclays PLC lifted its position in shares of 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 purchasing an additional 103,301 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.