WK Kellogg Co (NYSE:KLG) Receives $17.40 Consensus Price Target from Analysts

WK Kellogg Co (NYSE:KLG) has earned a consensus recommendation of “Reduce” from the ten brokerages that are covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $17.40.

Several research firms have weighed in on KLG. Stifel Nicolaus lowered their price objective on shares of WK Kellogg from $22.00 to $18.00 and set a “hold” rating on the stock in a research report on Tuesday, July 23rd. Barclays reduced their price objective on shares of WK Kellogg from $19.00 to $16.00 and set an “underweight” rating for the company in a research note on Friday, July 19th. JPMorgan Chase & Co. cut their price objective on WK Kellogg from $22.00 to $17.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Finally, Bank of America downgraded shares of WK Kellogg from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $24.00 to $17.00 in a report on Wednesday, July 10th.

WK Kellogg Stock Performance

Shares of KLG opened at $18.35 on Friday. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.83 and a quick ratio of 0.36. The firm’s 50 day moving average is $16.99 and its 200-day moving average is $18.35. WK Kellogg has a 12-month low of $9.65 and a 12-month high of $24.63. The stock has a market capitalization of $1.58 billion and a P/E ratio of 12.89.

WK Kellogg (NYSE:KLG) last announced its earnings results on Tuesday, August 6th. The company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.06). The company had revenue of $672.00 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. Equities research analysts anticipate that WK Kellogg will post 1.5 EPS for the current fiscal year.

WK Kellogg Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Thursday, August 29th will be given a $0.16 dividend. The ex-dividend date is Thursday, August 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.49%.

Institutional Investors Weigh In On WK Kellogg

A number of institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. bought a new stake in WK Kellogg in the fourth quarter valued at $4,461,000. Royal London Asset Management Ltd. acquired a new position in WK Kellogg during the 4th quarter worth $695,000. Rip Road Capital Partners LP acquired a new position in shares of WK Kellogg during the fourth quarter valued at $3,999,000. New York State Common Retirement Fund bought a new position in WK Kellogg in the fourth quarter valued at about $508,000. Finally, Caas Capital Management LP acquired a new stake in WK Kellogg in the fourth quarter worth about $2,986,000. Institutional investors and hedge funds 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.