WK Kellogg (NYSE:KLG) Trading Down 3%

WK Kellogg Co (NYSE:KLG)’s stock price traded down 3% during trading on Thursday . The company traded as low as $16.93 and last traded at $16.93. 48,035 shares traded hands during mid-day trading, a decline of 96% from the average session volume of 1,101,686 shares. The stock had previously closed at $17.45.

Analysts Set New Price Targets

KLG has been the subject of several recent analyst reports. Bank of America lowered shares of WK Kellogg from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $24.00 to $17.00 in a report on Wednesday, July 10th. Stifel Nicolaus dropped their price target on WK Kellogg from $22.00 to $18.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. BNP Paribas cut WK Kellogg from a “neutral” rating to an “underperform” rating and set a $20.00 target price on the stock. in a report on Wednesday, May 8th. Evercore ISI raised their target price on WK Kellogg from $21.00 to $23.00 and gave the company an “in-line” rating in a research note on Wednesday, May 8th. Finally, Barclays reduced their price target on shares of WK Kellogg from $19.00 to $16.00 and set an “underweight” rating on the stock in a research report on Friday, July 19th. Four equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat, WK Kellogg has a consensus rating of “Hold” and an average target price of $17.40.

WK Kellogg Stock Performance

The company has a debt-to-equity ratio of 1.53, a current ratio of 0.84 and a quick ratio of 0.43. The stock has a market capitalization of $1.48 billion and a price-to-earnings ratio of 10.60. The stock has a 50-day moving average of $16.84 and a 200 day moving average of $18.15.

WK Kellogg (NYSE:KLG) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.06). The company had revenue of $672.00 million for the quarter, compared to analyst estimates of $671.50 million. The firm’s quarterly revenue was down 4.0% compared to the same quarter last year. On average, analysts expect that WK Kellogg Co will post 1.53 EPS for the current year.

WK Kellogg Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, August 29th will be given a $0.16 dividend. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $0.64 annualized dividend and a dividend yield of 3.73%. WK Kellogg’s dividend payout ratio is currently 39.51%.

Institutional Investors Weigh In On WK Kellogg

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Benjamin F. Edwards & Company Inc. acquired a new position in shares of WK Kellogg during the 4th quarter worth about $26,000. Brown Brothers Harriman & Co. acquired a new position in WK Kellogg during the fourth quarter valued at approximately $27,000. EntryPoint Capital LLC bought a new stake in WK Kellogg in the first quarter valued at approximately $42,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in WK Kellogg in the fourth quarter worth $31,000. Finally, Rothschild Investment LLC bought a new position in shares of WK Kellogg during the second quarter worth $46,000. Institutional investors own 95.74% of the company’s stock.

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.