WK Kellogg Co (NYSE:KLG) Receives $18.50 Consensus Target Price from Analysts

WK Kellogg Co (NYSE:KLG) has earned an average rating of “Reduce” from the eight ratings firms that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a sell rating and five have issued a hold rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $18.50.

Several research firms have commented on KLG. JPMorgan Chase & Co. dropped their target price on shares of WK Kellogg from $22.00 to $17.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Barclays lowered their price target on shares of WK Kellogg from $19.00 to $16.00 and set an “underweight” rating on the stock in a report on Friday, July 19th. Bank of America cut shares of WK Kellogg from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $24.00 to $17.00 in a report on Wednesday, July 10th. Finally, Stifel Nicolaus lowered their price target on shares of WK Kellogg from $22.00 to $18.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd.

WK Kellogg Price Performance

WK Kellogg stock opened at $16.62 on Friday. WK Kellogg has a 52 week low of $9.82 and a 52 week high of $24.63. The company’s 50 day moving average price is $17.55 and its two-hundred day moving average price is $18.35. The company has a quick ratio of 0.36, a current ratio of 0.83 and a debt-to-equity ratio of 1.42. The stock has a market cap of $1.43 billion and a P/E ratio of 11.87.

WK Kellogg (NYSE:KLG) last posted its earnings results on Tuesday, August 6th. The company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.06). WK Kellogg had a return on equity of 42.12% and a net margin of 4.45%. The firm had revenue of $672.00 million for the quarter, compared to the consensus estimate of $671.50 million. WK Kellogg’s quarterly revenue was down 4.0% on a year-over-year basis. On average, equities analysts predict that WK Kellogg will post 1.5 earnings per share for the current year.

WK Kellogg Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.85%. WK Kellogg’s dividend payout ratio is currently 45.71%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in KLG. AQR Capital Management LLC increased its holdings in shares of WK Kellogg by 579.1% in the second quarter. AQR Capital Management LLC now owns 1,403,854 shares of the company’s stock worth $23,107,000 after purchasing an additional 1,197,133 shares during the period. Rodgers Brothers Inc. increased its holdings in shares of WK Kellogg by 2,253.3% in the first quarter. Rodgers Brothers Inc. now owns 623,468 shares of the company’s stock worth $11,721,000 after purchasing an additional 596,975 shares during the period. Jupiter Asset Management Ltd. increased its holdings in shares of WK Kellogg by 1,876.1% in the first quarter. Jupiter Asset Management Ltd. now owns 531,108 shares of the company’s stock worth $9,985,000 after purchasing an additional 504,232 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in shares of WK Kellogg in the first quarter worth $8,998,000. Finally, Renaissance Technologies LLC increased its holdings in shares of WK Kellogg by 124.5% in the second quarter. Renaissance Technologies LLC now owns 538,600 shares of the company’s stock worth $8,865,000 after purchasing an additional 298,700 shares during the period. Institutional investors own 95.74% of the company’s stock.

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.