WK Kellogg Co (NYSE:KLG) Given Consensus Rating of “Reduce” by Analysts

WK Kellogg Co (NYSE:KLG) has earned an average recommendation of “Reduce” from the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating and five have given a hold rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $18.88.

A number of brokerages have commented on KLG. JPMorgan Chase & Co. reduced their target price on shares of WK Kellogg from $22.00 to $17.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Barclays lifted their price objective on WK Kellogg from $16.00 to $19.00 and gave the company an “underweight” rating in a research report on Monday, November 11th.

Insider Buying and Selling at WK Kellogg

In other news, Director G Zachary Gund bought 65,000 shares of the 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 transaction, the director now owns 195,000 shares of the company’s stock, valued at $3,463,200. The trade was a 50.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On WK Kellogg

Several institutional investors have recently modified their holdings of the stock. Janney Montgomery Scott LLC bought a new stake in shares of WK Kellogg during the 1st quarter worth approximately $241,000. Sei Investments Co. boosted its stake in shares of WK Kellogg by 24.1% during the first quarter. Sei Investments Co. now owns 54,901 shares of the company’s stock valued at $1,032,000 after purchasing an additional 10,672 shares during the period. EntryPoint Capital LLC bought a new position in WK Kellogg in the 1st quarter worth about $42,000. Gamco Investors INC. ET AL grew its stake in WK Kellogg by 5.7% in the first quarter. Gamco Investors INC. ET AL now owns 470,064 shares of the company’s stock worth $8,837,000 after purchasing an additional 25,220 shares in the last quarter. Finally, Keeley Teton Advisors LLC grew its position in shares of WK Kellogg by 14.9% during the 1st quarter. Keeley Teton Advisors LLC now owns 343,026 shares of the company’s stock worth $6,449,000 after buying an additional 44,583 shares in the last quarter. 95.74% of the stock is owned by institutional investors.

WK Kellogg Trading Up 7.1 %

WK Kellogg stock opened at $20.19 on Thursday. WK Kellogg has a 12 month low of $10.99 and a 12 month high of $24.63. The company has a market capitalization of $1.74 billion and a price-to-earnings ratio of 25.88. The business’s fifty day simple moving average is $17.50 and its two-hundred day simple moving average is $17.67. The company has a current ratio of 0.78, a quick ratio of 0.34 and a debt-to-equity ratio of 1.49.

WK Kellogg (NYSE:KLG) last issued its earnings results on Thursday, November 7th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.26 by $0.05. WK Kellogg had a return on equity of 33.41% and a net margin of 2.50%. The business had revenue of $689.00 million for the quarter, compared to the consensus estimate of $674.10 million. During the same period last year, the business posted $0.49 EPS. The company’s revenue was down .4% compared to the same quarter last year. As a group, equities analysts predict that WK Kellogg will post 1.49 earnings per share for the current fiscal year.

WK Kellogg Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date is Friday, November 29th. WK Kellogg’s dividend payout ratio (DPR) is currently 82.05%.

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.