WK Kellogg (NYSE:KLG – Free Report) had its price target decreased by Stifel Nicolaus from $22.00 to $18.00 in a research note released on Tuesday, Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.
Several other research analysts also recently commented on the company. Barclays reduced their target price 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. TD Cowen lifted their price target on WK Kellogg from $13.00 to $24.00 and gave the stock a hold rating in a report on Wednesday, May 8th. Bank of America cut WK Kellogg from a neutral rating to an underperform rating and dropped their price target for the stock from $24.00 to $17.00 in a report on Wednesday, July 10th. Evercore ISI lifted their price target on WK Kellogg from $21.00 to $23.00 and gave the stock an in-line rating in a report on Wednesday, May 8th. Finally, BNP Paribas cut WK Kellogg from a neutral rating to an underperform rating and set a $20.00 price target for the company. in a report on Wednesday, May 8th. Four equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Hold and an average target price of $16.80.
Check Out Our Latest Stock Report on KLG
WK Kellogg Price Performance
WK Kellogg (NYSE:KLG – Get Free Report) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.37 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.37. The company had revenue of $707.00 million during the quarter, compared to the consensus estimate of $697.83 million. The business’s revenue for the quarter was down .7% compared to the same quarter last year. As a group, sell-side analysts forecast that WK Kellogg will post 1.54 EPS for the current fiscal year.
WK Kellogg Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were issued a dividend of $0.16 per share. The ex-dividend date was Friday, May 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.69%.
Hedge Funds Weigh In On WK Kellogg
A number of institutional investors have recently modified their holdings of KLG. Texas Permanent School Fund Corp grew its position in WK Kellogg by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 57,706 shares of the company’s stock worth $1,085,000 after acquiring an additional 754 shares during the last quarter. Ancora Advisors LLC grew its position in WK Kellogg by 0.5% during the 1st quarter. Ancora Advisors LLC now owns 318,596 shares of the company’s stock worth $5,990,000 after acquiring an additional 1,550 shares during the last quarter. Alpha Omega Wealth Management LLC grew its position in WK Kellogg by 15.2% during the 1st quarter. Alpha Omega Wealth Management LLC now owns 13,080 shares of the company’s stock worth $246,000 after acquiring an additional 1,725 shares during the last quarter. Eukles Asset Management bought a new stake in WK Kellogg during the 4th quarter worth $25,000. Finally, Benjamin F. Edwards & Company Inc. bought a new stake in WK Kellogg during the 4th quarter worth $26,000. Institutional investors and hedge funds own 95.74% of the company’s stock.
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.
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