Analysts Set WK Kellogg Co (NYSE:KLG) Target Price at $18.57

WK Kellogg Co (NYSE:KLG) has earned an average rating of “Strong Sell” from the seven analysts that are currently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $18.57.

A number of research analysts have recently issued reports on KLG shares. TD Cowen lowered shares of WK Kellogg from a “hold” rating to a “sell” rating and dropped their price target for the stock from $18.00 to $16.00 in a research note on Wednesday, January 8th. Barclays boosted their price target on shares of WK Kellogg from $16.00 to $19.00 and gave the stock an “underweight” rating in a research note on Monday, November 11th.

WK Kellogg Price Performance

Shares of NYSE:KLG opened at $15.80 on Friday. WK Kellogg has a one year low of $12.32 and a one year high of $24.63. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.34 and a current ratio of 0.78. The company has a 50-day simple moving average of $18.54 and a 200-day simple moving average of $17.66. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of 20.26 and a beta of 0.72.

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

WK Kellogg Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.64 annualized dividend and a yield of 4.05%. WK Kellogg’s payout ratio is currently 82.05%.

Insiders Place Their Bets

In other WK Kellogg news, Director G Zachary Gund purchased 65,000 shares of the stock in a transaction dated Thursday, November 14th. The shares were acquired at an average cost of $17.76 per share, for a total transaction of $1,154,400.00. Following the completion of the transaction, the director now directly owns 195,000 shares of the company’s stock, valued at $3,463,200. This trade represents a 50.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 0.90% of the stock is currently owned by company insiders.

Institutional Trading of WK Kellogg

Several large investors have recently modified their holdings of the business. Alpha Omega Wealth Management LLC lifted its stake in shares of WK Kellogg by 4.9% during the third quarter. Alpha Omega Wealth Management LLC now owns 12,880 shares of the company’s stock valued at $220,000 after buying an additional 600 shares during the period. GAMMA Investing LLC lifted its stake in shares of WK Kellogg by 88.6% during the third quarter. GAMMA Investing LLC now owns 1,890 shares of the company’s stock valued at $32,000 after buying an additional 888 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of WK Kellogg by 65.1% during the third quarter. Nisa Investment Advisors LLC now owns 8,802 shares of the company’s stock valued at $151,000 after buying an additional 3,471 shares during the period. Truist Financial Corp lifted its stake in shares of WK Kellogg by 11.4% during the second quarter. Truist Financial Corp now owns 38,808 shares of the company’s stock valued at $639,000 after buying an additional 3,970 shares during the period. Finally, Abich Financial Wealth Management LLC lifted its stake in shares of WK Kellogg by 3,575.4% during the third quarter. Abich Financial Wealth Management LLC now owns 4,484 shares of the company’s stock valued at $77,000 after buying an additional 4,362 shares during the period. 95.74% of the stock is currently owned by institutional investors and hedge funds.

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.