WK Kellogg Co (NYSE:KLG) Receives $17.67 Consensus Price Target from Analysts

WK Kellogg Co (NYSE:KLG) has been given a consensus rating of “Reduce” by the eight research firms that are presently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a sell rating and five have given a hold rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $18.50.

Several equities research analysts have recently issued reports on the company. Stifel Nicolaus lowered their price objective 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. Bank of America lowered WK Kellogg from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $24.00 to $17.00 in a research note on Wednesday, July 10th. JPMorgan Chase & Co. decreased their price target on 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 decreased their price target on WK Kellogg from $19.00 to $16.00 and set an “underweight” rating for the company in a research note on Friday, July 19th.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Brown Brothers Harriman & Co. purchased a new position in WK Kellogg during the 4th quarter worth $27,000. GAMMA Investing LLC increased its holdings in shares of WK Kellogg by 88.6% in the 3rd 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. Kapitalo Investimentos Ltda purchased a new position in shares of WK Kellogg in the 4th quarter valued at $39,000. Quarry LP purchased a new position in shares of WK Kellogg in the 4th quarter valued at $41,000. Finally, EntryPoint Capital LLC purchased a new position in shares of WK Kellogg in the 1st quarter valued at $42,000. 95.74% of the stock is currently owned by hedge funds and other institutional investors.

WK Kellogg Price Performance

NYSE:KLG opened at $17.46 on Wednesday. The firm has a market capitalization of $1.50 billion and a price-to-earnings ratio of 11.56. WK Kellogg has a 1 year low of $9.65 and a 1 year high of $24.63. The business has a 50 day simple moving average of $17.43 and a 200-day simple moving average of $18.62. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.83 and a quick ratio of 0.36.

WK Kellogg (NYSE:KLG) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.06). The company had revenue of $672.00 million during the quarter, compared to the consensus estimate of $671.50 million. WK Kellogg had a net margin of 4.45% and a return on equity of 42.12%. The firm’s revenue for the quarter was down 4.0% on a year-over-year basis. Equities analysts forecast that WK Kellogg will post 1.5 EPS for the current year.

WK Kellogg Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 29th were issued a dividend of $0.16 per share. The ex-dividend date was Thursday, August 29th. This represents a $0.64 annualized dividend and a yield of 3.67%. WK Kellogg’s payout ratio is currently 42.38%.

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.