WK Kellogg (NYSE:KLG) Now Covered by Analysts at Morgan Stanley

Analysts at Morgan Stanley initiated coverage on shares of WK Kellogg (NYSE:KLG) in a note issued to investors on Monday, Marketbeat reports. The brokerage set an “underweight” rating and a $18.00 price target on the stock. Morgan Stanley’s price target would indicate a potential downside of 2.96% from the stock’s current price.

KLG has been the subject of a number of other reports. Barclays cut 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, January 17th. 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 report on Friday, January 24th. TD Cowen lowered shares of WK Kellogg from a “hold” rating to a “sell” rating and decreased their price objective for the stock from $18.00 to $16.00 in a report on Wednesday, January 8th. Finally, Jefferies Financial Group dropped their target price on shares of WK Kellogg from $19.00 to $16.00 and set a “hold” rating for the company in a report on Tuesday, January 28th. Five equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $17.89.

WK Kellogg Stock Performance

NYSE:KLG opened at $18.55 on Monday. The company’s 50-day moving average is $18.34 and its two-hundred day moving average is $18.19. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of 22.90, a PEG ratio of 2.01 and a beta of 0.30. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.74 and a quick ratio of 0.32. WK Kellogg has a 1-year low of $15.17 and a 1-year high of $24.63.

WK Kellogg (NYSE:KLG) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.14. WK Kellogg had a return on equity of 39.81% and a net margin of 2.66%. Analysts forecast that WK Kellogg will post 1.57 EPS for the current year.

Institutional Trading of WK Kellogg

Large investors have recently modified their holdings of the stock. Halbert Hargrove Global Advisors LLC acquired a new position in WK Kellogg during the 4th quarter worth $25,000. Ancora Advisors LLC grew its position in shares of WK Kellogg by 181.8% during the fourth quarter. Ancora Advisors LLC now owns 1,519 shares of the company’s stock worth $27,000 after buying an additional 980 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of WK Kellogg during the fourth quarter worth about $36,000. Wealthfront Advisers LLC purchased a new stake in shares of WK Kellogg during the fourth quarter worth approximately $44,000. Finally, GAMMA Investing LLC raised its holdings in WK Kellogg by 49.4% in the fourth quarter. GAMMA Investing LLC now owns 2,823 shares of the company’s stock valued at $51,000 after acquiring an additional 933 shares in the last quarter. Hedge funds and other institutional investors 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.