WK Kellogg (NYSE:KLG) Price Target Lowered to $16.00 at Barclays

WK Kellogg (NYSE:KLG) had its target price reduced by Barclays from $19.00 to $16.00 in a report released on Friday,Benzinga reports. Barclays currently has an underweight rating on the stock.

Separately, TD Cowen lowered WK Kellogg from a “hold” rating to a “sell” rating and lowered their price target for the company from $18.00 to $16.00 in a report on Wednesday, January 8th. Four research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $18.14.

WK Kellogg Price Performance

NYSE KLG opened at $15.95 on Friday. The company has a 50-day moving average price of $18.50 and a two-hundred day moving average price of $17.65. WK Kellogg has a 52 week low of $12.32 and a 52 week high of $24.63. The stock has a market cap of $1.37 billion, a price-to-earnings ratio of 20.44 and a beta of 0.72. 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 quarterly earnings data 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. The business had revenue of $689.00 million during the quarter, compared to analyst estimates of $674.10 million. WK Kellogg had a return on equity of 33.41% and a net margin of 2.50%. The business’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.49 EPS. Analysts forecast that WK Kellogg will post 1.49 EPS for the current year.

WK Kellogg Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 4.01%. The ex-dividend date was Friday, November 29th. WK Kellogg’s dividend payout ratio (DPR) is presently 82.05%.

Insider Transactions at WK Kellogg

In other news, Director G Zachary Gund bought 65,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The stock was acquired at an average price of $17.76 per share, with a total value of $1,154,400.00. Following the completion of the purchase, the director now directly owns 195,000 shares of the company’s stock, valued at $3,463,200. This represents a 50.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On WK Kellogg

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Royce & Associates LP raised its holdings in shares of WK Kellogg by 199.8% in the 3rd quarter. Royce & Associates LP now owns 71,987 shares of the company’s stock worth $1,232,000 after purchasing an additional 47,973 shares in the last quarter. Barclays PLC grew its position in WK Kellogg by 406.6% in the third quarter. Barclays PLC now owns 128,710 shares of the company’s stock worth $2,202,000 after buying an additional 103,301 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of WK Kellogg by 7.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,112,558 shares of the company’s stock valued at $19,036,000 after buying an additional 79,808 shares in the last quarter. CWA Asset Management Group LLC lifted its position in shares of WK Kellogg by 191.9% during the 4th quarter. CWA Asset Management Group LLC now owns 49,010 shares of the company’s stock valued at $882,000 after acquiring an additional 32,218 shares during the last quarter. Finally, Captrust Financial Advisors boosted its stake in shares of WK Kellogg by 12,352.1% during the 3rd quarter. Captrust Financial Advisors now owns 1,516,417 shares of the company’s stock worth $25,946,000 after acquiring an additional 1,504,239 shares in the last quarter. 95.74% of the stock is 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.