WK Kellogg Co (NYSE:KLG – Get Free Report) has received an average rating of “Reduce” from the ten research firms that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating and eight have issued a hold rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $12.75.
Several analysts have commented on KLG shares. Stifel Nicolaus upped their target price on shares of WK Kellogg from $11.00 to $13.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. Barclays upped their target price on shares of WK Kellogg from $12.00 to $15.00 and gave the company an “underweight” rating in a research report on Friday.
Check Out Our Latest Analysis on KLG
WK Kellogg Price Performance
WK Kellogg (NYSE:KLG – Get Free Report) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.03). The business had revenue of $651.00 million during the quarter, compared to analysts’ expectations of $645.87 million. The business’s quarterly revenue was down 2.7% on a year-over-year basis. On average, sell-side analysts predict that WK Kellogg will post 1.51 EPS for the current fiscal year.
WK Kellogg Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.06%.
Institutional Investors Weigh In On WK Kellogg
Several hedge funds have recently bought and sold shares of the company. Kellogg W K Foundation Trust acquired a new stake in WK Kellogg in the 4th quarter valued at about $177,458,000. Vanguard Group Inc. acquired a new stake in WK Kellogg in the 4th quarter valued at about $76,817,000. Massachusetts Financial Services Co. MA acquired a new stake in WK Kellogg in the 4th quarter valued at about $18,412,000. Beutel Goodman & Co Ltd. acquired a new stake in WK Kellogg in the 4th quarter valued at about $13,730,000. Finally, London & Capital Asset Management Ltd bought a new position in WK Kellogg in the 4th quarter valued at about $10,363,000. 95.74% of the stock is currently owned by institutional investors and hedge funds.
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.
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