WK Kellogg Co (NYSE:KLG) Receives $18.57 Average Target Price from Brokerages

WK Kellogg Co (NYSE:KLG) has been assigned an average rating of “Strong Sell” from the seven research firms that are currently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $18.57.

Several analysts have commented on the stock. Barclays boosted their target price on shares of WK Kellogg from $16.00 to $19.00 and gave the stock an “underweight” rating in a research report on Monday, November 11th. TD Cowen cut shares of WK Kellogg from a “hold” rating to a “sell” rating and decreased their price objective for the stock from $18.00 to $16.00 in a report on Wednesday, January 8th.

Insider Activity

In other news, Director G Zachary Gund acquired 65,000 shares of WK Kellogg stock in a transaction on Thursday, November 14th. The stock was bought at an average price of $17.76 per share, for a total transaction of $1,154,400.00. Following the transaction, the director now owns 195,000 shares of the company’s stock, valued at $3,463,200. The trade was a 50.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of KLG. GAMMA Investing LLC lifted its stake 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 purchasing an additional 888 shares during the period. Abich Financial Wealth Management LLC raised its holdings in shares of WK Kellogg by 3,575.4% in the 3rd 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 in the last quarter. International Assets Investment Management LLC lifted its position in shares of WK Kellogg by 1,724.1% during the 3rd quarter. International Assets Investment Management LLC now owns 4,688 shares of the company’s stock worth $80,000 after buying an additional 4,431 shares during the period. nVerses Capital LLC acquired a new stake in WK Kellogg in the 3rd quarter valued at $99,000. Finally, Nisa Investment Advisors LLC grew its position in WK Kellogg by 65.1% in the third quarter. Nisa Investment Advisors LLC now owns 8,802 shares of the company’s stock valued at $151,000 after acquiring an additional 3,471 shares during the period. 95.74% of the stock is currently owned by institutional investors and hedge funds.

WK Kellogg Trading Down 4.5 %

WK Kellogg stock opened at $15.59 on Friday. WK Kellogg has a 12 month low of $12.32 and a 12 month high of $24.63. 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 cap of $1.34 billion, a P/E ratio of 19.99 and a beta of 0.72. The company’s fifty day simple moving average is $18.68 and its 200-day simple moving average is $17.70.

WK Kellogg (NYSE:KLG) last issued its earnings results on Thursday, November 7th. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.05. WK Kellogg had a return on equity of 33.41% and a net margin of 2.50%. The firm had revenue of $689.00 million for the quarter, compared to the consensus estimate of $674.10 million. During the same quarter in the previous year, the company posted $0.49 earnings per share. The business’s quarterly revenue was down .4% compared to the same quarter last year. As a group, sell-side analysts forecast that WK Kellogg will post 1.49 EPS for the current fiscal year.

WK Kellogg Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date of this dividend was Friday, November 29th. WK Kellogg’s dividend payout ratio is 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.