Analysts Set WK Kellogg Co (NYSE:KLG) Target Price at $16.95

Shares of WK Kellogg Co (NYSE:KLG) have been assigned an average recommendation of “Reduce” from the ten research firms that are currently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $16.95.

Several research firms have recently commented on KLG. Evercore ISI increased their price target on shares of WK Kellogg from $21.00 to $23.00 and gave the company an “in-line” rating in a research note on Wednesday, May 8th. TD Cowen lifted their target price on WK Kellogg from $13.00 to $24.00 and gave the company a “hold” rating in a research note on Wednesday, May 8th. Barclays upped their price target on WK Kellogg from $15.00 to $19.00 and gave the company an “underweight” rating in a research note on Thursday, May 9th. Stifel Nicolaus lifted their price objective on WK Kellogg from $20.00 to $22.00 and gave the stock a “hold” rating in a research report on Wednesday, May 8th. Finally, BNP Paribas downgraded shares of WK Kellogg from a “neutral” rating to an “underperform” rating and set a $20.00 target price on the stock. in a research report on Wednesday, May 8th.

Institutional Trading of WK Kellogg

Several hedge funds have recently added to or reduced their stakes in KLG. Texas Permanent School Fund Corp increased its position in shares of WK Kellogg by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 57,706 shares of the company’s stock worth $1,085,000 after acquiring an additional 754 shares in the last quarter. Ancora Advisors LLC lifted its position in shares of WK Kellogg by 0.5% in the first quarter. Ancora Advisors LLC now owns 318,596 shares of the company’s stock worth $5,990,000 after purchasing an additional 1,550 shares in the last quarter. Alpha Omega Wealth Management LLC boosted its holdings in WK Kellogg by 15.2% during the first quarter. Alpha Omega Wealth Management LLC now owns 13,080 shares of the company’s stock worth $246,000 after purchasing an additional 1,725 shares during the last quarter. Eukles Asset Management bought a new position in shares of WK Kellogg in the 4th quarter valued at about $25,000. Finally, Benjamin F. Edwards & Company Inc. acquired a new stake in shares of WK Kellogg in the fourth quarter valued at about $26,000. Institutional investors and hedge funds own 95.74% of the company’s stock.

WK Kellogg Price Performance

KLG stock opened at $16.68 on Monday. The business has a fifty day moving average price of $20.34 and a 200 day moving average price of $16.93. The company has a quick ratio of 0.43, a current ratio of 0.84 and a debt-to-equity ratio of 1.53. WK Kellogg has a fifty-two week low of $9.65 and a fifty-two week high of $24.63.

WK Kellogg (NYSE:KLG) last announced its earnings results on Tuesday, May 7th. The company reported $0.37 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.37. The business had revenue of $707.00 million during the quarter, compared to analyst estimates of $697.83 million. The business’s revenue was down .7% compared to the same quarter last year. On average, analysts anticipate that WK Kellogg will post 1.55 earnings per share for the current year.

WK Kellogg Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 3.84%. The ex-dividend date of this dividend was Friday, May 31st.

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.