WK Kellogg (NYSE:KLG) Stock Price Down 7.9% – Should You Sell?

Shares of WK Kellogg Co (NYSE:KLG) dropped 7.9% on Friday . The stock traded as low as $18.05 and last traded at $18.09. Approximately 347,868 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 1,030,230 shares. The stock had previously closed at $19.65.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Stifel Nicolaus cut their price target on WK Kellogg from $22.00 to $18.00 and set a “hold” rating for the company in a research note on Tuesday, July 23rd. 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 research note on Wednesday, August 7th. Finally, Barclays dropped their price target on shares of WK Kellogg from $19.00 to $16.00 and set an “underweight” rating on the stock in a research note on Friday, July 19th. Three analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $18.50.

WK Kellogg Stock Performance

The stock’s 50-day moving average price is $17.51 and its 200 day moving average price is $18.21. 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 company has a market cap of $1.54 billion and a P/E ratio of 12.92.

WK Kellogg (NYSE:KLG) last released its earnings results on Thursday, November 7th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.05. The firm had revenue of $689.00 million for the quarter, compared to analyst estimates of $674.10 million. WK Kellogg had a return on equity of 42.12% and a net margin of 4.45%. The company’s revenue was down .4% on a year-over-year basis. During the same quarter last year, the firm posted $0.49 EPS. As a group, research analysts expect that WK Kellogg Co will post 1.5 EPS for the current fiscal year.

WK Kellogg Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a $0.16 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.64 annualized dividend and a yield of 3.57%. WK Kellogg’s dividend payout ratio (DPR) is 45.71%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Alpha Omega Wealth Management LLC lifted its stake in WK Kellogg by 4.9% during the third quarter. Alpha Omega Wealth Management LLC now owns 12,880 shares of the company’s stock worth $220,000 after purchasing an additional 600 shares during the period. Texas Permanent School Fund Corp lifted its position in shares of WK Kellogg by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 57,706 shares of the company’s stock worth $1,085,000 after buying an additional 754 shares during the period. GAMMA Investing LLC grew its position in WK Kellogg by 88.6% in the third quarter. GAMMA Investing LLC now owns 1,890 shares of the company’s stock valued at $32,000 after acquiring an additional 888 shares during the period. Ancora Advisors LLC grew its position in 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 period. Finally, Price T Rowe Associates Inc. MD raised its stake in WK Kellogg by 15.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,638 shares of the company’s stock worth $276,000 after acquiring an additional 2,009 shares in the last quarter. 95.74% of the stock is 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.