WK Kellogg (NYSE:KLG) Trading Down 2.7% – What’s Next?

Shares of WK Kellogg Co (NYSE:KLG) traded down 2.7% on Wednesday . The stock traded as low as $19.50 and last traded at $19.46. 37,358 shares changed hands during trading, a decline of 97% from the average session volume of 1,124,474 shares. The stock had previously closed at $20.00.

Analyst Upgrades and Downgrades

KLG has been the subject of a number of research reports. TD Cowen downgraded WK Kellogg from a “hold” rating to a “sell” rating and decreased their price target for the stock from $18.00 to $16.00 in a research note on Wednesday, January 8th. Barclays decreased their target price on WK Kellogg from $19.00 to $16.00 and set an “underweight” rating for the company in a research report on Friday, January 17th. Stifel Nicolaus decreased their price objective on shares of WK Kellogg from $19.00 to $18.00 and set a “hold” rating for the company in a report on Friday, January 24th. Finally, Jefferies Financial Group lowered their target price on shares of WK Kellogg from $19.00 to $16.00 and set a “hold” rating for the company in a research note on Tuesday, January 28th. Four analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat.com, WK Kellogg presently has a consensus rating of “Hold” and a consensus target price of $17.88.

WK Kellogg Stock Down 0.7 %

The company has a quick ratio of 0.32, a current ratio of 0.74 and a debt-to-equity ratio of 1.45. The firm’s 50-day moving average price is $18.17 and its 200 day moving average price is $18.16. The firm has a market cap of $1.62 billion, a P/E ratio of 23.14, a price-to-earnings-growth ratio of 2.01 and a beta of 0.30.

WK Kellogg (NYSE:KLG) last announced its quarterly earnings results on Tuesday, February 11th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.28 by $0.14. WK Kellogg had a net margin of 2.66% and a return on equity of 39.81%. As a group, research analysts expect that WK Kellogg Co will post 1.57 earnings per share for the current year.

WK Kellogg Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $0.165 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.66 annualized dividend and a yield of 3.52%. This is an increase from WK Kellogg’s previous quarterly dividend of $0.16. WK Kellogg’s payout ratio is presently 81.48%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Siemens Fonds Invest GmbH acquired a new stake in WK Kellogg in the fourth quarter worth about $454,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of WK Kellogg during the 4th quarter worth about $1,994,000. Polar Asset Management Partners Inc. acquired a new stake in shares of WK Kellogg in the 4th quarter worth approximately $1,051,000. Western Wealth Management LLC bought a new position in shares of WK Kellogg in the fourth quarter valued at approximately $198,000. Finally, Patrick Mauro Investment Advisor INC. increased its stake in shares of WK Kellogg by 35.1% during the fourth quarter. Patrick Mauro Investment Advisor INC. now owns 63,798 shares of the company’s stock valued at $1,148,000 after acquiring an additional 16,563 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.