WK Kellogg (NYSE:KLG) PT Lowered to $17.00 at JPMorgan Chase & Co.

WK Kellogg (NYSE:KLG) had its price objective trimmed by JPMorgan Chase & Co. from $22.00 to $17.00 in a research report released on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other research analysts also recently issued reports on the stock. Stifel Nicolaus reduced their price target on shares of WK Kellogg from $22.00 to $18.00 and set a hold rating on the stock in a research report on Tuesday, July 23rd. Evercore ISI upped their price objective on shares of WK Kellogg from $21.00 to $23.00 and gave the company an in-line rating in a research note on Wednesday, May 8th. BNP Paribas downgraded shares of WK Kellogg from a neutral rating to an underperform rating and set a $20.00 target price for the company. in a research report on Wednesday, May 8th. Bank of America downgraded shares of WK Kellogg from a neutral rating to an underperform rating and decreased their price objective for the stock from $24.00 to $17.00 in a report on Wednesday, July 10th. Finally, TD Cowen increased their price target on shares of WK Kellogg from $13.00 to $24.00 and gave the company a hold rating in a report on Wednesday, May 8th. Four equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat.com, WK Kellogg presently has an average rating of Hold and an average target price of $17.40.

WK Kellogg Trading Up 1.7 %

NYSE:KLG traded up $0.29 during trading hours on Wednesday, reaching $17.06. 772,016 shares of the company were exchanged, compared to its average volume of 1,126,073. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.84 and a quick ratio of 0.43. The firm has a market cap of $1.47 billion and a price-to-earnings ratio of 10.53. WK Kellogg has a 52-week low of $9.65 and a 52-week high of $24.63. The stock has a 50 day simple moving average of $17.09 and a 200 day simple moving average of $17.71.

WK Kellogg (NYSE:KLG) last issued its earnings results on Tuesday, August 6th. The company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.06). The firm had revenue of $672.00 million for the quarter, compared to analyst estimates of $671.50 million. The company’s quarterly revenue was down 4.0% on a year-over-year basis. As a group, analysts predict that WK Kellogg will post 1.53 EPS for the current year.

WK Kellogg Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Thursday, August 29th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend is Thursday, August 29th. WK Kellogg’s payout ratio is 39.51%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in KLG. Kellogg W K Foundation Trust bought a new position in shares of WK Kellogg during the 4th quarter worth approximately $177,458,000. Massachusetts Financial Services Co. MA purchased a new stake in shares of WK Kellogg during the 4th quarter valued at $18,412,000. Beutel Goodman & Co Ltd. purchased a new stake in shares of WK Kellogg during the 4th quarter valued at $13,730,000. London & Capital Asset Management Ltd purchased a new stake in shares of WK Kellogg during the 4th quarter valued at $10,363,000. Finally, Private Management Group Inc. purchased a new stake in shares of WK Kellogg during the 4th quarter valued at $8,956,000. Institutional investors and hedge funds 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.