WK Kellogg Co (NYSE:KLG) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of WK Kellogg Co (NYSE:KLG) have received an average recommendation of “Reduce” from the seven analysts that are covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $19.71.

Separately, Barclays raised their target price on WK Kellogg from $16.00 to $19.00 and gave the company an “underweight” rating in a report on Monday, November 11th.

Insider Activity

In other WK Kellogg news, Director G Zachary Gund purchased 65,000 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were purchased at an average cost of $17.76 per share, with a total value of $1,154,400.00. Following the completion of the purchase, the director now owns 195,000 shares in the company, valued at $3,463,200. This represents a 50.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.90% of the company’s stock.

Institutional Trading of WK Kellogg

Several large investors have recently modified their holdings of KLG. GAMMA Investing LLC boosted its stake in WK Kellogg by 88.6% during the third quarter. GAMMA Investing LLC now owns 1,890 shares of the company’s stock worth $32,000 after acquiring an additional 888 shares in the last quarter. Rothschild Investment LLC acquired a new position in shares of WK Kellogg during the second quarter valued at about $46,000. Abich Financial Wealth Management LLC boosted its position in shares of WK Kellogg by 3,575.4% during the 3rd quarter. Abich Financial Wealth Management LLC now owns 4,484 shares of the company’s stock worth $77,000 after purchasing an additional 4,362 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of WK Kellogg by 1,724.1% in the 3rd quarter. International Assets Investment Management LLC now owns 4,688 shares of the company’s stock valued at $80,000 after buying an additional 4,431 shares during the period. Finally, nVerses Capital LLC bought a new stake in WK Kellogg in the 3rd quarter valued at about $99,000. Institutional investors and hedge funds own 95.74% of the company’s stock.

WK Kellogg Stock Down 0.0 %

KLG stock opened at $20.78 on Monday. The company has a market cap of $1.79 billion, a PE ratio of 26.64 and a beta of 0.07. The company has a quick ratio of 0.34, a current ratio of 0.78 and a debt-to-equity ratio of 1.49. WK Kellogg has a 52 week low of $11.95 and a 52 week high of $24.63. The business has a 50-day simple moving average of $18.45 and a 200 day simple moving average of $17.72.

WK Kellogg (NYSE:KLG) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.05. The company had revenue of $689.00 million during the quarter, compared to the consensus estimate of $674.10 million. WK Kellogg had a net margin of 2.50% and a return on equity of 33.41%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.49 EPS. Sell-side analysts anticipate that WK Kellogg will post 1.49 EPS for the current fiscal year.

WK Kellogg Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.64 dividend on an annualized basis and a yield of 3.08%. WK Kellogg’s dividend payout ratio is currently 82.05%.

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.