WK Kellogg Co (NYSE:KLG) Receives $18.88 Consensus PT from Brokerages

WK Kellogg Co (NYSE:KLG) has received a consensus rating of “Reduce” from the eight brokerages that are presently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $18.88.

Several analysts have recently commented on the stock. JPMorgan Chase & Co. lowered their price target on WK Kellogg from $22.00 to $17.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Barclays raised their price objective on WK Kellogg from $16.00 to $19.00 and gave the company an “underweight” rating in a research report on Monday, November 11th.

WK Kellogg Price Performance

KLG opened at $18.86 on Thursday. The stock has a fifty day simple moving average of $17.46 and a two-hundred day simple moving average of $17.76. The company has a market cap of $1.62 billion and a price-to-earnings ratio of 24.19. The company has a current ratio of 0.78, a quick ratio of 0.34 and a debt-to-equity ratio of 1.49. WK Kellogg has a 12-month low of $10.99 and a 12-month high of $24.63.

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

WK Kellogg Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date is Friday, November 29th. WK Kellogg’s dividend payout ratio is currently 82.05%.

Insider Buying and Selling

In related news, Director G Zachary Gund purchased 65,000 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were acquired at an average price of $17.76 per share, for a total transaction of $1,154,400.00. Following the purchase, the director now owns 195,000 shares of the company’s stock, valued at $3,463,200. This trade represents a 50.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On WK Kellogg

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its stake in shares of WK Kellogg by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,507,713 shares of the company’s stock worth $25,802,000 after acquiring an additional 38,939 shares in the last quarter. Barclays PLC boosted its position in 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. Stifel Financial Corp increased its position in shares of WK Kellogg by 107.3% in the third quarter. Stifel Financial Corp now owns 28,409 shares of the company’s stock valued at $486,000 after buying an additional 14,705 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its stake in shares of WK Kellogg by 31.1% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,124,503 shares of the company’s stock worth $19,240,000 after buying an additional 266,877 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC lifted its position in shares of WK Kellogg by 72.3% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 542,570 shares of the company’s stock valued at $9,283,000 after buying an additional 227,730 shares in the last quarter. 95.74% of the stock is owned by institutional investors and hedge funds.

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.