WK Kellogg Co (NYSE:KLG) Receives Average Rating of “Reduce” from Brokerages

Shares of WK Kellogg Co (NYSE:KLG) have received a consensus recommendation of “Reduce” from the eight analysts that are presently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $18.50.

A number of equities research analysts have weighed in on the stock. Stifel Nicolaus cut their price objective on shares of WK Kellogg from $22.00 to $18.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. Bank of America lowered WK Kellogg from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $24.00 to $17.00 in a research report on Wednesday, July 10th. JPMorgan Chase & Co. dropped their target price 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, Barclays dropped their price target on shares of WK Kellogg from $19.00 to $16.00 and set an “underweight” rating on the stock in a research note on Friday, July 19th.

WK Kellogg Trading Up 0.6 %

NYSE KLG opened at $16.73 on Friday. The firm has a market capitalization of $1.44 billion and a PE ratio of 11.95. The stock’s 50 day moving average is $17.53 and its 200 day moving average is $18.31. WK Kellogg has a twelve month low of $9.82 and a twelve month high of $24.63. The company has a quick ratio of 0.36, a current ratio of 0.83 and a debt-to-equity ratio of 1.42.

WK Kellogg (NYSE:KLG) last announced its earnings results on Tuesday, August 6th. The company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.06). The business had revenue of $672.00 million for the quarter, compared to the consensus estimate of $671.50 million. WK Kellogg had a net margin of 4.45% and a return on equity of 42.12%. The business’s revenue was down 4.0% on a year-over-year basis. Research analysts forecast that WK Kellogg will post 1.5 earnings per share for the current fiscal year.

WK Kellogg Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.64 annualized dividend and a yield of 3.83%. WK Kellogg’s payout ratio is 45.71%.

Hedge Funds Weigh In On WK Kellogg

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC raised its holdings in shares of WK Kellogg by 88.6% during the third 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 last quarter. EntryPoint Capital LLC bought a new stake in WK Kellogg in the 1st quarter worth approximately $42,000. Rothschild Investment LLC purchased a new stake in WK Kellogg during the 2nd quarter valued at $46,000. Abich Financial Wealth Management LLC boosted its stake in shares of WK Kellogg by 3,575.4% in the 3rd quarter. Abich Financial Wealth Management LLC now owns 4,484 shares of the company’s stock worth $77,000 after buying an additional 4,362 shares during the last quarter. Finally, International Assets Investment Management LLC grew its holdings in shares of WK Kellogg by 1,724.1% in the third quarter. International Assets Investment Management LLC now owns 4,688 shares of the company’s stock worth $80,000 after acquiring an additional 4,431 shares during the period. 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.