WK Kellogg (NYSE:KLG) Price Target Cut to $18.00 by Analysts at Stifel Nicolaus

WK Kellogg (NYSE:KLG) had its target price lowered by stock analysts at Stifel Nicolaus from $19.00 to $18.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Stifel Nicolaus’ target price points to a potential upside of 6.19% from the company’s current price.

KLG has been the subject of a number of other research reports. Barclays reduced their price objective on shares of WK Kellogg from $19.00 to $16.00 and set an “underweight” rating for the company in a research report on Friday, January 17th. TD Cowen downgraded WK Kellogg from a “hold” rating to a “sell” rating and decreased their price target for the company from $18.00 to $16.00 in a research note on Wednesday, January 8th. Four equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Based on data from MarketBeat.com, WK Kellogg presently has an average rating of “Reduce” and an average target price of $18.14.

WK Kellogg Stock Down 0.1 %

WK Kellogg stock opened at $16.95 on Friday. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of 21.73 and a beta of 0.72. The company has a current ratio of 0.78, a quick ratio of 0.34 and a debt-to-equity ratio of 1.49. The stock has a 50 day moving average of $18.42 and a two-hundred day moving average of $17.67. WK Kellogg has a twelve month low of $12.32 and a twelve month high of $24.63.

WK Kellogg (NYSE:KLG) last posted 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 firm had revenue of $689.00 million for the quarter, compared to analyst estimates of $674.10 million. WK Kellogg had a net margin of 2.50% and a return on equity of 33.41%. WK Kellogg’s quarterly revenue was down .4% on a year-over-year basis. During the same period last year, the firm posted $0.49 EPS. As a group, research analysts expect that WK Kellogg will post 1.49 earnings per share for the current year.

Insider Transactions at WK Kellogg

In other WK Kellogg news, Director G Zachary Gund bought 65,000 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was purchased at an average cost of $17.76 per share, for a total transaction of $1,154,400.00. Following the acquisition, 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 position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of KLG. Captrust Financial Advisors grew its holdings in WK Kellogg by 12,352.1% during the 3rd quarter. Captrust Financial Advisors now owns 1,516,417 shares of the company’s stock valued at $25,946,000 after buying an additional 1,504,239 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of WK Kellogg by 2.7% in the third quarter. Geode Capital Management LLC now owns 1,507,713 shares of the company’s stock valued at $25,802,000 after acquiring an additional 38,939 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of WK Kellogg by 579.1% during the second quarter. AQR Capital Management LLC now owns 1,403,854 shares of the company’s stock valued at $23,107,000 after acquiring an additional 1,197,133 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in 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 purchasing an additional 266,877 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in WK Kellogg by 7.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,112,558 shares of the company’s stock valued at $19,036,000 after purchasing an additional 79,808 shares during the last quarter. 95.74% of the stock is owned by hedge funds and other institutional investors.

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.