Brokerages Set WK Kellogg Co (NYSE:KLG) Target Price at $17.88

WK Kellogg Co (NYSE:KLG) has received an average rating of “Reduce” from the eight analysts that are currently covering the company, Marketbeat reports. Four analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $17.88.

Several research analysts recently issued reports on KLG shares. Barclays cut their target price on shares of WK Kellogg from $19.00 to $16.00 and set an “underweight” rating for the company in a research report on Friday, January 17th. Jefferies Financial Group lowered their price objective on shares of WK Kellogg from $19.00 to $16.00 and set a “hold” rating for the company in a report on Tuesday, January 28th. Stifel Nicolaus lowered 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, TD Cowen downgraded shares of WK Kellogg from a “hold” rating to a “sell” rating and reduced their price target for the company from $18.00 to $16.00 in a research report on Wednesday, January 8th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of KLG. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of WK Kellogg in the fourth quarter worth $25,000. Ancora Advisors LLC lifted its stake in shares of WK Kellogg by 181.8% in the fourth quarter. Ancora Advisors LLC now owns 1,519 shares of the company’s stock worth $27,000 after buying an additional 980 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of WK Kellogg in the fourth quarter worth about $36,000. Wealthfront Advisers LLC purchased a new position in shares of WK Kellogg in the fourth quarter worth about $44,000. Finally, GAMMA Investing LLC increased its position in WK Kellogg by 49.4% during the fourth quarter. GAMMA Investing LLC now owns 2,823 shares of the company’s stock worth $51,000 after purchasing an additional 933 shares during the last quarter. Institutional investors and hedge funds own 95.74% of the company’s stock.

WK Kellogg Price Performance

WK Kellogg stock opened at $19.12 on Friday. WK Kellogg has a 52 week low of $14.37 and a 52 week high of $24.63. The company’s 50 day moving average price is $17.64 and its two-hundred day moving average price is $17.98. 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 stock has a market cap of $1.65 billion, a P/E ratio of 23.60, a P/E/G ratio of 2.01 and a beta of 0.70.

WK Kellogg (NYSE:KLG) last released its quarterly earnings data on Tuesday, February 11th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.14. WK Kellogg had a net margin of 2.66% and a return on equity of 39.81%. On average, equities analysts predict that WK Kellogg will post 1.57 earnings per share for the current year.

WK Kellogg Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 3.45%. The ex-dividend date is Friday, February 28th. This is a boost from WK Kellogg’s previous quarterly dividend of $0.16. WK Kellogg’s dividend payout ratio is presently 81.48%.

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.