WK Kellogg (NYSE:KLG) Trading 4.4% Higher

WK Kellogg Co (NYSE:KLG)’s stock price rose 4.4% on Thursday . The company traded as high as $17.61 and last traded at $17.57. Approximately 104,097 shares traded hands during trading, a decline of 91% from the average daily volume of 1,096,631 shares. The stock had previously closed at $16.83.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Bank of America cut shares of WK Kellogg from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $24.00 to $17.00 in a research note on Wednesday, July 10th. Barclays lowered their price target on WK Kellogg from $19.00 to $16.00 and set an “underweight” rating on the stock in a research note on Friday, July 19th. JPMorgan Chase & Co. decreased their price objective on WK Kellogg from $22.00 to $17.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Finally, Stifel Nicolaus dropped their target price on shares of WK Kellogg from $22.00 to $18.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. Four investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to MarketBeat.com, WK Kellogg has an average rating of “Hold” and an average price target of $17.40.

WK Kellogg Stock Down 2.5 %

The company has a market capitalization of $1.55 billion and a PE ratio of 11.95. The business’s 50 day simple moving average is $16.90 and its 200 day simple moving average is $18.25. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.83 and a quick ratio of 0.36.

WK Kellogg (NYSE:KLG) last announced its earnings results on Tuesday, August 6th. The company reported $0.36 earnings per share 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 return on equity of 42.12% and a net margin of 4.45%. The firm’s revenue was down 4.0% compared to the same quarter last year. As a group, analysts anticipate that WK Kellogg Co will post 1.5 earnings per share for the current fiscal year.

WK Kellogg Announces Dividend

The company also recently announced 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. This represents a $0.64 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date is Thursday, August 29th. WK Kellogg’s payout ratio is 42.38%.

Institutional Investors Weigh In On WK Kellogg

Several institutional investors and hedge funds have recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. acquired a new position in shares of WK Kellogg in the fourth quarter worth $26,000. Brown Brothers Harriman & Co. acquired a new stake in WK Kellogg in the fourth quarter valued at approximately $27,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in WK Kellogg in the fourth quarter worth approximately $31,000. Kapitalo Investimentos Ltda acquired a new position in WK Kellogg during the 4th quarter worth approximately $39,000. Finally, Quarry LP purchased a new stake in shares of WK Kellogg in the 4th quarter valued at approximately $41,000. Hedge funds and other institutional investors 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.