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

WK Kellogg Co (NYSE:KLG) has been assigned an average rating of “Reduce” from the ten ratings firms that are presently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation and seven have assigned a hold recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $16.95.

Several equities analysts have commented on KLG shares. Stifel Nicolaus increased their target price on WK Kellogg from $20.00 to $22.00 and gave the company a “hold” rating in a research report on Wednesday, May 8th. BNP Paribas downgraded WK Kellogg from a “neutral” rating to an “underperform” rating and set a $20.00 target price for the company. in a research report on Wednesday, May 8th. TD Cowen increased their target price on WK Kellogg from $13.00 to $24.00 and gave the company a “hold” rating in a research report on Wednesday, May 8th. Evercore ISI increased their target price on WK Kellogg from $21.00 to $23.00 and gave the company an “in-line” rating in a research report on Wednesday, May 8th. Finally, Barclays increased their target price on WK Kellogg from $15.00 to $19.00 and gave the company an “underweight” rating in a research report on Thursday, May 9th.

WK Kellogg Stock Down 4.5 %

Shares of NYSE KLG opened at $17.04 on Monday. The company has a quick ratio of 0.43, a current ratio of 0.84 and a debt-to-equity ratio of 1.53. The stock’s fifty day moving average price is $20.59 and its two-hundred day moving average price is $16.86. WK Kellogg has a one year low of $9.65 and a one year high of $24.63.

WK Kellogg (NYSE:KLG) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.37 earnings per share for the quarter, hitting the consensus estimate of $0.37. The business had revenue of $707.00 million for the quarter, compared to the consensus estimate of $697.83 million. The business’s quarterly revenue was down .7% on a year-over-year basis. On average, sell-side analysts anticipate that WK Kellogg will post 1.55 earnings per share for the current year.

WK Kellogg Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were paid a $0.16 dividend. The ex-dividend date was Friday, May 31st. This represents a $0.64 dividend on an annualized basis and a yield of 3.76%.

Institutional Investors Weigh In On WK Kellogg

A number of hedge funds have recently added to or reduced their stakes in the company. Eukles Asset Management purchased a new position in shares of WK Kellogg during the fourth quarter valued at approximately $25,000. Benjamin F. Edwards & Company Inc. purchased a new position in shares of WK Kellogg during the fourth quarter valued at approximately $26,000. Toth Financial Advisory Corp purchased a new position in shares of WK Kellogg during the fourth quarter valued at approximately $26,000. Canal Insurance CO purchased a new position in shares of WK Kellogg during the fourth quarter valued at approximately $26,000. Finally, Brown Brothers Harriman & Co. purchased a new position in shares of WK Kellogg during the fourth quarter valued at approximately $27,000. Institutional investors and hedge funds own 95.74% of the company’s stock.

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.