WK Kellogg Co (NYSE:KLG) Receives $13.45 Consensus PT from Analysts

WK Kellogg Co (NYSE:KLG) has been assigned an average recommendation of “Reduce” from the ten research firms that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating and eight have issued a hold rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $13.45.

Several research analysts have recently weighed in on KLG shares. Barclays upped their target price on WK Kellogg from $12.00 to $15.00 and gave the stock an “underweight” rating in a research note on Friday, April 12th. Stifel Nicolaus increased their price objective on WK Kellogg from $13.00 to $20.00 and gave the company a “hold” rating in a research note on Friday, April 26th.

Hedge Funds Weigh In On WK Kellogg

A number of hedge funds have recently modified their holdings of the business. Lincoln Capital Corp purchased a new position in WK Kellogg during the 4th quarter valued at about $1,026,000. Nordea Investment Management AB purchased a new position in WK Kellogg during the 4th quarter valued at about $2,119,000. Inlet Private Wealth LLC purchased a new position in WK Kellogg during the 4th quarter valued at about $4,038,000. Oak Thistle LLC purchased a new position in WK Kellogg during the 4th quarter valued at about $1,721,000. Finally, London & Capital Asset Management Ltd purchased a new position in WK Kellogg during the 4th quarter valued at about $10,363,000. 95.74% of the stock is currently owned by hedge funds and other institutional investors.

WK Kellogg Stock Performance

WK Kellogg stock opened at $24.27 on Friday. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.43 and a current ratio of 0.84. WK Kellogg has a 12 month low of $9.65 and a 12 month high of $24.63. The stock’s 50 day simple moving average is $19.42 and its two-hundred day simple moving average is $14.89.

WK Kellogg (NYSE:KLG) last released its quarterly earnings data on Tuesday, February 13th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.03). The business had revenue of $651.00 million during the quarter, compared to analyst estimates of $645.87 million. The business’s revenue for the quarter was down 2.7% on a year-over-year basis. On average, equities analysts expect that WK Kellogg will post 1.51 earnings per share for the current year.

WK Kellogg Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date is Friday, May 31st.

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.