WK Kellogg Co (NYSE:KLG) Receives $17.88 Average PT from Analysts

Shares of WK Kellogg Co (NYSE:KLG) have been assigned a consensus rating of “Reduce” from the eight ratings firms that are presently covering the company, MarketBeat reports. Four research analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $17.88.

Several analysts have recently commented on KLG shares. Barclays decreased their target price on WK Kellogg from $19.00 to $16.00 and set an “underweight” rating for the company in a research report on Friday, January 17th. Stifel Nicolaus decreased their price objective on WK Kellogg from $19.00 to $18.00 and set a “hold” rating for the company in a research report on Friday, January 24th. TD Cowen downgraded WK Kellogg from a “hold” rating to a “sell” rating and dropped their target price for the company from $18.00 to $16.00 in a report on Wednesday, January 8th. Finally, Jefferies Financial Group decreased their price target on shares of WK Kellogg from $19.00 to $16.00 and set a “hold” rating for the company in a report on Tuesday, January 28th.

WK Kellogg Trading Down 1.4 %

WK Kellogg stock opened at $16.25 on Tuesday. WK Kellogg has a 52 week low of $12.34 and a 52 week 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 firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of 20.83 and a beta of 0.70. The company has a 50 day moving average price of $17.88 and a 200 day moving average price of $17.71.

WK Kellogg Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 4.06%. The ex-dividend date of this dividend is Friday, February 28th. This is a positive change from WK Kellogg’s previous quarterly dividend of $0.16. WK Kellogg’s dividend payout ratio (DPR) is presently 82.05%.

Insiders Place Their Bets

In other WK Kellogg news, Director G Zachary Gund acquired 65,000 shares of WK Kellogg 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 purchase, the director now owns 195,000 shares in the company, valued at approximately $3,463,200. This trade 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 the SEC website. Insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On WK Kellogg

Several institutional investors have recently bought and sold shares of KLG. Truist Financial Corp increased its holdings in shares of WK Kellogg by 2.2% during the 4th quarter. Truist Financial Corp now owns 39,658 shares of the company’s stock valued at $713,000 after acquiring an additional 838 shares during the last quarter. GAMMA Investing LLC boosted its position in WK Kellogg by 88.6% during the third 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. Halbert Hargrove Global Advisors LLC acquired a new position in WK Kellogg during the fourth quarter valued at approximately $25,000. Jones Financial Companies Lllp raised its position in shares of WK Kellogg by 26.9% in the fourth quarter. Jones Financial Companies Lllp now owns 7,813 shares of the company’s stock valued at $141,000 after purchasing an additional 1,657 shares during the period. Finally, Janney Montgomery Scott LLC lifted its stake in shares of WK Kellogg by 13.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 16,818 shares of the company’s stock worth $303,000 after buying an additional 1,955 shares during 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.