Jefferies Financial Group Issues Pessimistic Forecast for WK Kellogg (NYSE:KLG) Stock Price

WK Kellogg (NYSE:KLG) had its price target decreased by Jefferies Financial Group from $19.00 to $16.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Jefferies Financial Group currently has a hold rating on the stock.

A number of other equities research analysts have also recently commented on KLG. Stifel Nicolaus lowered their price objective on shares of WK Kellogg from $19.00 to $18.00 and set a “hold” rating on the stock in a research note on Friday, January 24th. TD Cowen cut shares of WK Kellogg from a “hold” rating to a “sell” rating and dropped their price objective for the stock from $18.00 to $16.00 in a research note on Wednesday, January 8th. Finally, Barclays reduced their target price on WK Kellogg from $19.00 to $16.00 and set an “underweight” rating on the stock in a research note on Friday, January 17th. Four investment analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat, WK Kellogg has an average rating of “Hold” and a consensus price target of $17.88.

WK Kellogg Trading Down 7.2 %

NYSE KLG opened at $16.31 on Tuesday. The company has a quick ratio of 0.34, a current ratio of 0.78 and a debt-to-equity ratio of 1.49. The stock has a market capitalization of $1.41 billion, a P/E ratio of 20.92 and a beta of 0.72. WK Kellogg has a 52-week low of $12.32 and a 52-week high of $24.63. The firm has a 50-day moving average price of $18.41 and a 200 day moving average price of $17.70.

WK Kellogg (NYSE:KLG) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.05. The business had revenue of $689.00 million for 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%. The business’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the prior year, the company posted $0.49 EPS. Equities research analysts expect that WK Kellogg will post 1.49 EPS for the current year.

WK Kellogg Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were paid a dividend of $0.16 per share. The ex-dividend date was Friday, November 29th. This represents a $0.64 annualized dividend and a yield of 3.92%. WK Kellogg’s payout ratio is 82.05%.

Insider Activity

In other WK Kellogg news, Director G Zachary Gund purchased 65,000 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was bought at an average price of $17.76 per share, with a total value of $1,154,400.00. Following the completion of the purchase, the director now owns 195,000 shares in the company, valued at $3,463,200. This trade represents a 50.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.90% of the company’s stock.

Institutional Trading of WK Kellogg

A number of hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC boosted its position 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. Spire Wealth Management bought a new stake in WK Kellogg during the fourth quarter worth approximately $56,000. Abich Financial Wealth Management LLC grew its position in WK Kellogg by 3,575.4% in the third quarter. Abich Financial Wealth Management LLC now owns 4,484 shares of the company’s stock worth $77,000 after buying an additional 4,362 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of WK Kellogg by 1,724.1% in the third quarter. International Assets Investment Management LLC now owns 4,688 shares of the company’s stock valued at $80,000 after buying an additional 4,431 shares in the last quarter. Finally, nVerses Capital LLC acquired a new stake in shares of WK Kellogg during the 3rd quarter valued at $99,000. 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.