WK Kellogg (NYSE:KLG) Shares Up 5% – Time to Buy?

WK Kellogg Co (NYSE:KLG) shares rose 5% during mid-day trading on Monday . The company traded as high as $21.10 and last traded at $21.05. Approximately 143,168 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 1,104,995 shares. The stock had previously closed at $20.05.

Analysts Set New Price Targets

Several brokerages recently weighed in on KLG. Barclays reduced their price objective on shares of WK Kellogg from $19.00 to $16.00 and set an “underweight” rating on the stock in a research note on Friday, January 17th. Stifel Nicolaus decreased their price target on WK Kellogg from $19.00 to $18.00 and set a “hold” rating for the company in a research note on Friday, January 24th. Jefferies Financial Group reduced their target price on WK Kellogg from $19.00 to $16.00 and set a “hold” rating on the stock in a report on Tuesday, January 28th. Finally, TD Cowen lowered shares of WK Kellogg from a “hold” rating to a “sell” rating and lowered their price target for the stock from $18.00 to $16.00 in a report on Wednesday, January 8th. Four equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $17.88.

WK Kellogg Stock Up 9.4 %

The stock’s 50-day simple moving average is $17.70 and its 200-day simple moving average is $18.01. The company has a current ratio of 0.74, a quick ratio of 0.32 and a debt-to-equity ratio of 1.45. The firm has a market capitalization of $1.89 billion, a P/E ratio of 27.07, a P/E/G ratio of 2.01 and a beta of 0.30.

WK Kellogg (NYSE:KLG) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.14. WK Kellogg had a return on equity of 39.81% and a net margin of 2.66%. As a group, research analysts predict that WK Kellogg Co will post 1.57 earnings per share for the current fiscal year.

WK Kellogg Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a $0.165 dividend. This is an increase from WK Kellogg’s previous quarterly dividend of $0.16. This represents a $0.66 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend is Friday, February 28th. WK Kellogg’s dividend payout ratio (DPR) is currently 81.48%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Truist Financial Corp boosted its position in WK Kellogg by 2.2% during the fourth quarter. Truist Financial Corp now owns 39,658 shares of the company’s stock worth $713,000 after purchasing an additional 838 shares during the period. GAMMA Investing LLC boosted its holdings in WK Kellogg by 49.4% in the 4th quarter. GAMMA Investing LLC now owns 2,823 shares of the company’s stock worth $51,000 after buying an additional 933 shares during the period. Ancora Advisors LLC grew its stake in WK Kellogg by 181.8% in the 4th quarter. Ancora Advisors LLC now owns 1,519 shares of the company’s stock valued at $27,000 after buying an additional 980 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in WK Kellogg by 3.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,338 shares of the company’s stock valued at $672,000 after acquiring an additional 1,339 shares during the period. Finally, Halbert Hargrove Global Advisors LLC purchased a new stake in shares of WK Kellogg during the fourth quarter worth $25,000. Institutional investors own 95.74% of the company’s stock.

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.