WK Kellogg Co (NYSE:KLG) Receives $18.50 Average Target Price from Analysts

Shares of WK Kellogg Co (NYSE:KLG) have been assigned an average rating of “Reduce” from the eight research firms that are presently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $18.50.

Several brokerages recently commented on KLG. Stifel Nicolaus reduced their target price on shares of WK Kellogg from $22.00 to $18.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. JPMorgan Chase & Co. reduced their target price on shares of WK Kellogg from $22.00 to $17.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Bank of America cut shares of WK Kellogg from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $24.00 to $17.00 in a report on Wednesday, July 10th. Finally, Barclays reduced their target price on shares of WK Kellogg from $19.00 to $16.00 and set an “underweight” rating for the company in a report on Friday, July 19th.

Hedge Funds Weigh In On WK Kellogg

A number of hedge funds have recently bought and sold shares of KLG. GAMMA Investing LLC increased its position in WK Kellogg by 88.6% during the third quarter. GAMMA Investing LLC now owns 1,890 shares of the company’s stock worth $32,000 after acquiring an additional 888 shares during the period. EntryPoint Capital LLC bought a new position in WK Kellogg during the first quarter worth about $42,000. Rothschild Investment LLC bought a new position in WK Kellogg during the second quarter worth about $46,000. Abich Financial Wealth Management LLC increased its position in WK Kellogg by 3,575.4% during the third quarter. Abich Financial Wealth Management LLC now owns 4,484 shares of the company’s stock worth $77,000 after acquiring an additional 4,362 shares during the period. Finally, International Assets Investment Management LLC increased its position in WK Kellogg by 1,724.1% during the third quarter. International Assets Investment Management LLC now owns 4,688 shares of the company’s stock worth $80,000 after acquiring an additional 4,431 shares during the period. 95.74% of the stock is owned by institutional investors.

WK Kellogg Stock Down 0.6 %

Shares of KLG stock opened at $17.26 on Friday. The firm has a fifty day moving average of $17.57 and a 200-day moving average of $18.40. The company has a quick ratio of 0.36, a current ratio of 0.83 and a debt-to-equity ratio of 1.42. WK Kellogg has a 12-month low of $9.82 and a 12-month high of $24.63. The company has a market capitalization of $1.48 billion and a price-to-earnings ratio of 12.24.

WK Kellogg (NYSE:KLG) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.06). WK Kellogg had a return on equity of 42.12% and a net margin of 4.45%. The company had revenue of $672.00 million for the quarter, compared to the consensus estimate of $671.50 million. WK Kellogg’s revenue for the quarter was down 4.0% compared to the same quarter last year. As a group, equities research analysts predict that WK Kellogg will post 1.5 earnings per share for the current fiscal year.

WK Kellogg Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 29th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date of this dividend was Thursday, August 29th. WK Kellogg’s dividend payout ratio is presently 45.71%.

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.