WK Kellogg (NYSE:KLG) Shares Down 6% Following Analyst Downgrade

WK Kellogg Co (NYSE:KLGGet 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

In other WK Kellogg news, Director G Zachary Gund acquired 65,000 shares of WK Kellogg stock in a transaction dated Thursday, November 14th. The stock was purchased at an average cost of $17.76 per share, for a total transaction of $1,154,400.00. Following the completion of the acquisition, the director now directly owns 195,000 shares of the company’s stock, 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 can be accessed through this link. Corporate insiders own 0.90% of the company’s stock.

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:KLGGet 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

(Get Free Report)

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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