WK Kellogg Co (NYSE:KLG) Receives $17.89 Average PT from Analysts

Shares of WK Kellogg Co (NYSE:KLG) have received an average rating of “Strong Sell” from the nine research firms that are currently covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $17.89.

Several research firms recently commented on KLG. Barclays decreased their price target on shares of WK Kellogg from $19.00 to $16.00 and set an “underweight” rating for the company in a report on Friday, January 17th. Morgan Stanley assumed coverage on shares of WK Kellogg in a research note on Monday, March 24th. They set an “underweight” rating and a $18.00 target price for the company. Jefferies Financial Group dropped their price target on shares of WK Kellogg from $19.00 to $16.00 and set a “hold” rating on the stock in a research note on Tuesday, January 28th. Stifel Nicolaus reduced their price objective on WK Kellogg from $19.00 to $18.00 and set a “hold” rating for the company in a research report on Friday, January 24th. Finally, TD Cowen downgraded WK Kellogg from a “hold” rating to a “sell” rating and lowered their target price for the company from $18.00 to $16.00 in a research note on Wednesday, January 8th.

Institutional Trading of WK Kellogg

Large investors have recently made changes to their positions in the stock. Halbert Hargrove Global Advisors LLC acquired a new stake in WK Kellogg in the 4th quarter worth approximately $25,000. Ancora Advisors LLC grew its holdings in WK Kellogg by 181.8% during the fourth quarter. Ancora Advisors LLC now owns 1,519 shares of the company’s stock valued at $27,000 after purchasing an additional 980 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of WK Kellogg in the fourth quarter valued at approximately $36,000. Wealthfront Advisers LLC acquired a new stake in shares of WK Kellogg in the fourth quarter worth $44,000. Finally, GAMMA Investing LLC boosted its holdings in shares of WK Kellogg by 49.4% during the 4th quarter. GAMMA Investing LLC now owns 2,823 shares of the company’s stock worth $51,000 after buying an additional 933 shares during the period. Institutional investors own 95.74% of the company’s stock.

WK Kellogg Price Performance

KLG opened at $19.53 on Wednesday. WK Kellogg has a 12-month low of $15.17 and a 12-month high of $24.63. The company has a quick ratio of 0.32, a current ratio of 0.74 and a debt-to-equity ratio of 1.45. The firm has a market capitalization of $1.68 billion, a P/E ratio of 24.10, a PEG ratio of 2.01 and a beta of 0.30. The stock has a fifty day moving average of $18.56 and a 200-day moving average of $18.22.

WK Kellogg (NYSE:KLG) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.42 earnings per share (EPS) 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%. Equities analysts forecast that WK Kellogg will post 1.57 EPS for the current fiscal year.

WK Kellogg Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.165 per share. This is a positive change from WK Kellogg’s previous quarterly dividend of $0.16. This represents a $0.66 annualized dividend and a yield of 3.38%. The ex-dividend date was Friday, February 28th. WK Kellogg’s dividend payout ratio (DPR) is 81.48%.

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.