WK Kellogg Co (NYSE:KLG) Receives Consensus Rating of “Reduce” from Analysts

WK Kellogg Co (NYSE:KLG) has been given a consensus recommendation of “Reduce” by the nine research firms that are currently covering the company, MarketBeat reports. Four analysts have rated the stock with a sell rating and five have given a hold rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $17.67.

Several equities research analysts have recently weighed in on the stock. Stifel Nicolaus decreased their target price on shares of WK Kellogg from $22.00 to $18.00 and set a “hold” rating for the company in a research note on Tuesday, July 23rd. Barclays decreased their price objective on WK Kellogg from $19.00 to $16.00 and set an “underweight” rating for the company in a research report on Friday, July 19th. JPMorgan Chase & Co. decreased their price target on WK Kellogg from $22.00 to $17.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Finally, Bank of America cut shares of WK Kellogg from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $24.00 to $17.00 in a research note on Wednesday, July 10th.

WK Kellogg Price Performance

Shares of NYSE KLG opened at $17.22 on Wednesday. The company has a current ratio of 0.83, a quick ratio of 0.36 and a debt-to-equity ratio of 1.42. The stock has a market cap of $1.48 billion and a P/E ratio of 11.40. The stock has a 50 day moving average of $17.43 and a two-hundred day moving average of $18.65. WK Kellogg has a twelve month low of $9.65 and a twelve month high of $24.63.

WK Kellogg (NYSE:KLG) last issued 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). WK Kellogg had a return on equity of 42.12% and a net margin of 4.45%. The business had revenue of $672.00 million for the quarter, compared to analyst estimates of $671.50 million. The company’s quarterly revenue was down 4.0% on a year-over-year basis. On average, research analysts forecast that WK Kellogg will post 1.5 earnings per share for the current year.

WK Kellogg Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 29th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date was Thursday, August 29th. WK Kellogg’s dividend payout ratio (DPR) is currently 42.38%.

Institutional Trading of WK Kellogg

Several hedge funds and other institutional investors have recently made changes to their positions in KLG. AQR Capital Management LLC increased its holdings in WK Kellogg by 579.1% in the second quarter. AQR Capital Management LLC now owns 1,403,854 shares of the company’s stock valued at $23,107,000 after buying an additional 1,197,133 shares in the last quarter. Bank of New York Mellon Corp increased its stake in WK Kellogg by 9.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 904,699 shares of the company’s stock valued at $14,891,000 after purchasing an additional 77,262 shares in the last quarter. Jupiter Asset Management Ltd. raised its holdings in WK Kellogg by 64.4% during the second quarter. Jupiter Asset Management Ltd. now owns 873,047 shares of the company’s stock worth $14,370,000 after purchasing an additional 341,939 shares during the last quarter. Rodgers Brothers Inc. boosted its position in WK Kellogg by 2,253.3% during the first quarter. Rodgers Brothers Inc. now owns 623,468 shares of the company’s stock worth $11,721,000 after purchasing an additional 596,975 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in WK Kellogg by 124.5% in the second quarter. Renaissance Technologies LLC now owns 538,600 shares of the company’s stock valued at $8,865,000 after purchasing an additional 298,700 shares during the last quarter. Institutional investors and hedge funds 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.