Stifel Nicolaus Has Lowered Expectations for WK Kellogg (NYSE:KLG) Stock Price

WK Kellogg (NYSE:KLG) had its target price decreased by Stifel Nicolaus from $19.00 to $18.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “hold” rating on the stock. Stifel Nicolaus’ price objective suggests a potential upside of 6.35% from the stock’s previous close.

A number of other research analysts have also weighed in on KLG. TD Cowen lowered shares of WK Kellogg from a “hold” rating to a “sell” rating and cut their target price for the company from $18.00 to $16.00 in a report on Wednesday, January 8th. 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 report on Friday, January 17th. Four equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $18.14.

WK Kellogg Stock Down 0.2 %

NYSE KLG traded down $0.04 on Friday, reaching $16.93. The company had a trading volume of 103,855 shares, compared to its average volume of 904,178. WK Kellogg has a 52-week low of $12.32 and a 52-week high of $24.63. The company’s fifty day moving average is $18.43 and its 200 day moving average is $17.66. The stock has a market capitalization of $1.46 billion, a P/E ratio of 21.71 and a beta of 0.72. The company has a quick ratio of 0.34, a current ratio of 0.78 and a debt-to-equity ratio of 1.49.

WK Kellogg (NYSE:KLG) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.05. WK Kellogg had a return on equity of 33.41% and a net margin of 2.50%. The business had revenue of $689.00 million during the quarter, compared to analysts’ expectations of $674.10 million. During the same quarter last year, the business posted $0.49 EPS. The business’s revenue was down .4% on a year-over-year basis. Sell-side analysts anticipate that WK Kellogg will post 1.49 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director G Zachary Gund bought 65,000 shares of the business’s stock in a transaction on Thursday, November 14th. The stock was bought at an average price of $17.76 per share, for a total transaction of $1,154,400.00. Following the transaction, the director now directly owns 195,000 shares in the company, valued at $3,463,200. This represents a 50.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On WK Kellogg

A number of large investors have recently bought and sold shares of KLG. GAMMA Investing LLC increased its holdings in shares of WK Kellogg by 88.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,890 shares of the company’s stock worth $32,000 after purchasing an additional 888 shares during the period. Abich Financial Wealth Management LLC raised its holdings in WK Kellogg by 3,575.4% in the third quarter. Abich Financial Wealth Management LLC now owns 4,484 shares of the company’s stock worth $77,000 after purchasing an additional 4,362 shares during the period. International Assets Investment Management LLC raised its holdings in WK Kellogg by 1,724.1% during the 3rd quarter. International Assets Investment Management LLC now owns 4,688 shares of the company’s stock worth $80,000 after buying an additional 4,431 shares during the period. nVerses Capital LLC acquired a new stake in WK Kellogg in the 3rd quarter valued at approximately $99,000. Finally, Nisa Investment Advisors LLC grew its position in WK Kellogg by 65.1% in the third quarter. Nisa Investment Advisors LLC now owns 8,802 shares of the company’s stock valued at $151,000 after purchasing an additional 3,471 shares in the last quarter. 95.74% of the stock is currently owned by institutional investors.

About WK Kellogg

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.