WK Kellogg (NYSE:KLG) Given New $19.00 Price Target at Barclays

WK Kellogg (NYSE:KLG) had its price objective raised by Barclays from $16.00 to $19.00 in a research report report published on Monday,Benzinga reports. The brokerage currently has an underweight rating on the stock.

Several other analysts have also recently weighed in on KLG. Stifel Nicolaus dropped their price objective on WK Kellogg from $22.00 to $18.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. JPMorgan Chase & Co. lowered 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. Three equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $18.88.

WK Kellogg Stock Down 0.9 %

KLG opened at $17.84 on Monday. WK Kellogg has a twelve month low of $10.33 and a twelve month high of $24.63. The firm has a market cap of $1.54 billion and a price-to-earnings ratio of 23.09. The firm’s 50-day simple moving average is $17.54 and its 200-day simple moving average is $18.06. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.36 and a current ratio of 0.78.

WK Kellogg (NYSE:KLG) last posted its earnings results on Thursday, November 7th. The company reported $0.31 earnings per share (EPS) for the quarter, beating 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 company had revenue of $689.00 million during the quarter, compared to analysts’ expectations of $674.10 million. During the same quarter in the previous year, the company posted $0.49 earnings per share. WK Kellogg’s quarterly revenue was down .4% compared to the same quarter last year. Equities research analysts anticipate that WK Kellogg will post 1.52 EPS for the current fiscal year.

WK Kellogg Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date is Friday, November 29th. WK Kellogg’s payout ratio is currently 82.05%.

Institutional Investors Weigh In On WK Kellogg

Several large investors have recently modified their holdings of KLG. Seven Eight Capital LP purchased a new stake in shares of WK Kellogg during the second quarter valued at approximately $577,000. Abundance Wealth Counselors bought a new stake in WK Kellogg in the second quarter worth $613,000. Jupiter Asset Management Ltd. raised its stake in shares of WK Kellogg by 1,876.1% in the first quarter. Jupiter Asset Management Ltd. now owns 531,108 shares of the company’s stock valued at $9,985,000 after acquiring an additional 504,232 shares during the period. Atlas Financial Advisors Inc. bought a new position in shares of WK Kellogg in the third quarter worth about $818,000. Finally, Acadian Asset Management LLC lifted its position in shares of WK Kellogg by 64,642.1% in the 2nd quarter. Acadian Asset Management LLC now owns 73,806 shares of the company’s stock worth $1,213,000 after purchasing an additional 73,692 shares during the period. Hedge funds and other institutional investors own 95.74% of the company’s stock.

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.