WK Kellogg Co (NYSE:KLG) Receives Average Rating of “Strong Sell” from Analysts

WK Kellogg Co (NYSE:KLG) has earned an average rating of “Strong Sell” from the nine analysts that are currently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $17.89.

Several research analysts have commented on the company. TD Cowen downgraded WK Kellogg from a “hold” rating to a “sell” rating and reduced their price objective for the stock from $18.00 to $16.00 in a report on Wednesday, January 8th. Stifel Nicolaus cut their price target on WK Kellogg from $19.00 to $18.00 and set a “hold” rating on the stock in a research note on Friday, January 24th. Barclays lowered their price objective on shares of WK Kellogg from $19.00 to $16.00 and set an “underweight” rating for the company in a research note on Friday, January 17th. Jefferies Financial Group cut their target price on shares of WK Kellogg from $19.00 to $16.00 and set a “hold” rating on the stock in a research report on Tuesday, January 28th. Finally, Morgan Stanley started coverage on shares of WK Kellogg in a research report on Monday, March 24th. They issued an “underweight” rating and a $18.00 price target for the company.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in KLG. Halbert Hargrove Global Advisors LLC acquired a new stake in WK Kellogg in the fourth quarter worth about $25,000. Ancora Advisors LLC boosted its stake in WK Kellogg by 181.8% in the 4th quarter. Ancora Advisors LLC now owns 1,519 shares of the company’s stock worth $27,000 after purchasing an additional 980 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in WK Kellogg during the 4th quarter worth approximately $36,000. Wealthfront Advisers LLC acquired a new position in WK Kellogg during the 4th quarter valued at approximately $44,000. Finally, GAMMA Investing LLC raised its holdings in shares of WK Kellogg by 49.4% in the fourth quarter. GAMMA Investing LLC now owns 2,823 shares of the company’s stock worth $51,000 after buying an additional 933 shares during the last quarter. 95.74% of the stock is currently owned by hedge funds and other institutional investors.

WK Kellogg Stock Up 1.0 %

Shares of KLG opened at $20.13 on Wednesday. The firm has a fifty day moving average price of $18.70 and a 200-day moving average price of $18.24. The company has a current ratio of 0.74, a quick ratio of 0.32 and a debt-to-equity ratio of 1.45. The firm has a market capitalization of $1.73 billion, a P/E ratio of 24.85, a P/E/G ratio of 2.01 and a beta of 0.29. WK Kellogg has a 12-month low of $15.17 and a 12-month high of $24.63.

WK Kellogg (NYSE:KLG) last released its quarterly earnings data on Tuesday, February 11th. The company reported $0.42 earnings per share (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%. Equities research analysts expect that WK Kellogg will post 1.57 earnings per share for the current year.

WK Kellogg Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend was Friday, February 28th. This is a positive change from WK Kellogg’s previous quarterly dividend of $0.16. WK Kellogg’s dividend payout ratio is currently 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.