WK Kellogg Co (NYSE:KLG) Given Average Recommendation of “Reduce” by Brokerages

Shares of WK Kellogg Co (NYSE:KLG) have been given a consensus recommendation of “Reduce” by the ten brokerages that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation and seven have given a hold recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $16.95.

KLG has been the subject of a number of recent analyst reports. Stifel Nicolaus raised their price target on WK Kellogg from $20.00 to $22.00 and gave the company a “hold” rating in a report on Wednesday, May 8th. TD Cowen raised their price target on WK Kellogg from $13.00 to $24.00 and gave the company a “hold” rating in a report on Wednesday, May 8th. Evercore ISI increased their price objective on WK Kellogg from $21.00 to $23.00 and gave the company an “in-line” rating in a research report on Wednesday, May 8th. Barclays increased their price objective on WK Kellogg from $15.00 to $19.00 and gave the company an “underweight” rating in a research report on Thursday, May 9th. Finally, BNP Paribas lowered WK Kellogg from a “neutral” rating to an “underperform” rating and set a $20.00 price objective on the stock. in a research report on Wednesday, May 8th.

WK Kellogg Price Performance

KLG stock opened at $16.46 on Monday. The business has a fifty day moving average price of $20.15 and a 200 day moving average price of $17.02. WK Kellogg has a fifty-two week low of $9.65 and a fifty-two week high of $24.63. The company has a quick ratio of 0.43, a current ratio of 0.84 and a debt-to-equity ratio of 1.53.

WK Kellogg (NYSE:KLG) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.37 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.37. The business had revenue of $707.00 million for the quarter, compared to analyst estimates of $697.83 million. The firm’s revenue for the quarter was down .7% on a year-over-year basis. On average, analysts anticipate that WK Kellogg will post 1.54 earnings per share for the current year.

WK Kellogg Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were given a $0.16 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.64 annualized dividend and a dividend yield of 3.89%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Texas Permanent School Fund Corp increased its position in shares of WK Kellogg by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 57,706 shares of the company’s stock valued at $1,085,000 after acquiring an additional 754 shares during the last quarter. Ancora Advisors LLC increased its position in shares of WK Kellogg by 0.5% in the first quarter. Ancora Advisors LLC now owns 318,596 shares of the company’s stock valued at $5,990,000 after acquiring an additional 1,550 shares during the last quarter. Alpha Omega Wealth Management LLC increased its position in shares of WK Kellogg by 15.2% in the first quarter. Alpha Omega Wealth Management LLC now owns 13,080 shares of the company’s stock valued at $246,000 after acquiring an additional 1,725 shares during the last quarter. Eukles Asset Management acquired a new stake in shares of WK Kellogg in the fourth quarter valued at about $25,000. Finally, Benjamin F. Edwards & Company Inc. acquired a new stake in shares of WK Kellogg in the fourth quarter valued at about $26,000. 95.74% of the stock is currently owned by institutional investors.

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.