Brokerages Set WK Kellogg Co (NYSE:KLG) Price Target at $18.88

Shares of WK Kellogg Co (NYSE:KLG) have been given a consensus recommendation of “Reduce” by the eight brokerages that are presently covering the firm, 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 price objective among brokers that have covered the stock in the last year is $18.88.

A number of research firms have weighed in on KLG. Barclays increased their price target on shares of WK Kellogg from $16.00 to $19.00 and gave the stock an “underweight” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. cut their target price on shares of WK Kellogg from $22.00 to $17.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th.

WK Kellogg Stock Up 2.7 %

Shares of NYSE KLG opened at $21.56 on Thursday. WK Kellogg has a 1 year low of $10.99 and a 1 year high of $24.63. The firm’s 50 day moving average price is $17.63 and its 200 day moving average price is $17.69. The firm has a market cap of $1.86 billion and a P/E ratio of 27.64. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.34 and a current ratio of 0.78.

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

WK Kellogg Dividend Announcement

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 paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.97%. The ex-dividend date is Friday, November 29th. WK Kellogg’s dividend payout ratio (DPR) is 82.05%.

Insider Activity

In other WK Kellogg news, Director G Zachary Gund purchased 65,000 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was acquired at an average cost of $17.76 per share, with a total value of $1,154,400.00. Following the acquisition, the director now owns 195,000 shares of the company’s stock, valued at approximately $3,463,200. This represents a 50.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of KLG. GAMMA Investing LLC boosted its stake in WK Kellogg by 88.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,890 shares of the company’s stock valued at $32,000 after purchasing an additional 888 shares during the period. EntryPoint Capital LLC acquired a new position in WK Kellogg during the 1st quarter valued at about $42,000. Rothschild Investment LLC acquired a new position in WK Kellogg during the 2nd quarter valued at about $46,000. Abich Financial Wealth Management LLC boosted its stake in WK Kellogg by 3,575.4% during the 3rd quarter. Abich Financial Wealth Management LLC now owns 4,484 shares of the company’s stock valued at $77,000 after purchasing an additional 4,362 shares during the period. Finally, International Assets Investment Management LLC boosted its stake 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 valued at $80,000 after purchasing an additional 4,431 shares during the period. 95.74% of the stock is owned by institutional investors and hedge funds.

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.