WK Kellogg Co (NYSE:KLG) Given Average Rating of “Strong Sell” by Brokerages

WK Kellogg Co (NYSE:KLG) has received a consensus rating of “Strong Sell” from the seven brokerages that are currently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $18.57.

Several research firms have issued reports on KLG. Barclays boosted their target price on WK Kellogg from $16.00 to $19.00 and gave the stock an “underweight” rating in a research report on Monday, November 11th. TD Cowen lowered WK Kellogg from a “hold” rating to a “sell” rating and dropped their price objective for the stock from $18.00 to $16.00 in a report on Wednesday.

WK Kellogg Price Performance

WK Kellogg stock opened at $16.31 on Friday. The business has a 50 day simple moving average of $18.70 and a 200-day simple moving average of $17.70. WK Kellogg has a 12 month low of $12.32 and a 12 month high of $24.63. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.78 and a quick ratio of 0.34. The stock has a market capitalization of $1.40 billion, a PE ratio of 20.91 and a beta of 0.72.

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

WK Kellogg Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders 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 3.92%. WK Kellogg’s payout ratio is 82.05%.

Insider Transactions at WK Kellogg

In related news, Director G Zachary Gund bought 65,000 shares of WK Kellogg stock in a transaction that occurred on Thursday, November 14th. The shares were purchased at an average price of $17.76 per share, with a total value of $1,154,400.00. Following 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 legal filing with the SEC, which is available through this link. Corporate insiders own 0.90% of the company’s stock.

Institutional Trading of WK Kellogg

Several institutional investors and hedge funds have recently made changes to their positions in KLG. Royce & Associates LP increased its stake in shares of WK Kellogg by 199.8% during the 3rd quarter. Royce & Associates LP now owns 71,987 shares of the company’s stock valued at $1,232,000 after acquiring an additional 47,973 shares during the last quarter. Barclays PLC raised its position in shares of WK Kellogg by 406.6% in the 3rd quarter. Barclays PLC now owns 128,710 shares of the company’s stock worth $2,202,000 after buying an additional 103,301 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of WK Kellogg by 7.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,112,558 shares of the company’s stock worth $19,036,000 after purchasing an additional 79,808 shares during the period. Captrust Financial Advisors raised its stake in shares of WK Kellogg by 12,352.1% in the 3rd quarter. Captrust Financial Advisors now owns 1,516,417 shares of the company’s stock valued at $25,946,000 after acquiring an additional 1,504,239 shares during the period. Finally, Seven Eight Capital LP acquired a new position in shares of WK Kellogg during the 2nd quarter valued at $577,000. 95.74% of the stock is currently owned by hedge funds and other institutional investors.

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.