Brokerages Set WK Kellogg Co (NYSE:KLG) Price Target at $19.71

Shares of WK Kellogg Co (NYSE:KLG) have received an average rating of “Reduce” from the seven brokerages that are presently covering the firm, Marketbeat reports. Three analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $19.71.

Separately, Barclays upped their price objective on WK Kellogg from $16.00 to $19.00 and gave the stock an “underweight” rating in a research report on Monday, November 11th.

Insiders Place Their Bets

In other WK Kellogg news, Director G Zachary Gund bought 65,000 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were purchased at an average cost of $17.76 per share, with a total value of $1,154,400.00. Following the purchase, the director now directly owns 195,000 shares in the company, valued at approximately $3,463,200. This represents a 50.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.90% of the stock is owned by insiders.

Hedge Funds Weigh In On WK Kellogg

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Alpha Omega Wealth Management LLC lifted its position in shares of WK Kellogg by 4.9% during the 3rd quarter. Alpha Omega Wealth Management LLC now owns 12,880 shares of the company’s stock worth $220,000 after purchasing an additional 600 shares during the last quarter. GAMMA Investing LLC lifted its holdings in WK Kellogg by 88.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,890 shares of the company’s stock worth $32,000 after buying an additional 888 shares during the last quarter. Rothschild Investment LLC purchased a new stake in WK Kellogg during the 2nd quarter worth about $46,000. Nisa Investment Advisors LLC boosted its position in shares of WK Kellogg by 65.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 8,802 shares of the company’s stock worth $151,000 after acquiring an additional 3,471 shares in the last quarter. Finally, Truist Financial Corp increased its holdings in shares of WK Kellogg by 11.4% in the 2nd quarter. Truist Financial Corp now owns 38,808 shares of the company’s stock valued at $639,000 after acquiring an additional 3,970 shares during the last quarter. Hedge funds and other institutional investors own 95.74% of the company’s stock.

WK Kellogg Stock Down 9.4 %

NYSE:KLG opened at $18.23 on Monday. The company’s 50 day moving average is $18.59 and its two-hundred day moving average is $17.74. The company has a market cap of $1.57 billion, a PE ratio of 23.37 and a beta of 0.07. WK Kellogg has a twelve month low of $11.97 and a twelve month high of $24.63. 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 (NYSE:KLG) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.05. The business had revenue of $689.00 million for the quarter, compared to analyst estimates of $674.10 million. WK Kellogg had a return on equity of 33.41% and a net margin of 2.50%. The company’s revenue was down .4% on a year-over-year basis. During the same period in the prior year, the company earned $0.49 earnings per share. Analysts anticipate that WK Kellogg will post 1.49 EPS for the current year.

WK Kellogg Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were issued a $0.16 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.64 annualized dividend and a dividend yield of 3.51%. WK Kellogg’s dividend payout ratio is currently 82.05%.

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.