WK Kellogg Co (NYSE:KLG – Get Free Report)’s stock price dropped 6% during trading on Tuesday after Jefferies Financial Group lowered their price target on the stock from $19.00 to $16.00. Jefferies Financial Group currently has a hold rating on the stock. WK Kellogg traded as low as $16.61 and last traded at $16.53. Approximately 669,610 shares were traded during mid-day trading, a decline of 27% from the average daily volume of 913,219 shares. The stock had previously closed at $17.58.
Other equities analysts also recently issued research reports about the stock. Stifel Nicolaus dropped their price target on shares of WK Kellogg from $19.00 to $18.00 and set a “hold” rating for the company in a research note on Friday, January 24th. Barclays lowered their target price on shares of WK Kellogg from $19.00 to $16.00 and set an “underweight” rating for the company in a research note on Friday, January 17th. Finally, TD Cowen downgraded shares of WK Kellogg from a “hold” rating to a “sell” rating and lowered their target price for the stock from $18.00 to $16.00 in a research note on Wednesday, January 8th. Four investment analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $17.88.
View Our Latest Analysis on WK Kellogg
Insiders Place Their Bets
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC boosted its holdings 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 purchasing an additional 888 shares during the last quarter. Spire Wealth Management purchased a new position in WK Kellogg during the fourth quarter worth about $56,000. Abich Financial Wealth Management LLC boosted its holdings in WK Kellogg by 3,575.4% during the third 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 during the last quarter. International Assets Investment Management LLC boosted its holdings in WK Kellogg by 1,724.1% during the third quarter. International Assets Investment Management LLC now owns 4,688 shares of the company’s stock worth $80,000 after purchasing an additional 4,431 shares during the last quarter. Finally, nVerses Capital LLC purchased a new position in WK Kellogg during the third quarter worth about $99,000. 95.74% of the stock is currently owned by institutional investors and hedge funds.
WK Kellogg Trading Up 1.2 %
The firm has a market capitalization of $1.43 billion, a PE ratio of 21.22 and a beta of 0.72. The firm’s fifty day moving average is $18.41 and its two-hundred day moving average is $17.70. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.78 and a quick ratio of 0.34.
WK Kellogg (NYSE:KLG – Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.05. The business had revenue of $689.00 million for the quarter, compared to analysts’ expectations of $674.10 million. WK Kellogg had a net margin of 2.50% and a return on equity of 33.41%. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.49 earnings per share. On average, equities analysts predict that WK Kellogg Co will post 1.49 EPS for the current fiscal year.
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.
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