WK Kellogg (NYSE:KLG) Shares Gap Down to $16.12

WK Kellogg Co (NYSE:KLGGet Free Report) shares gapped down prior to trading on Wednesday . The stock had previously closed at $16.12, but opened at $15.49. WK Kellogg shares last traded at $15.41, with a volume of 102,055 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on KLG. Barclays upped their price target on shares of WK Kellogg from $15.00 to $19.00 and gave the stock an “underweight” rating in a report on Thursday, May 9th. Bank of America cut WK Kellogg from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $24.00 to $17.00 in a report on Wednesday. TD Cowen raised their price objective on shares of WK Kellogg from $13.00 to $24.00 and gave the company a “hold” rating in a report on Wednesday, May 8th. Evercore ISI boosted their target price on shares of WK Kellogg from $21.00 to $23.00 and gave the stock an “in-line” rating in a report on Wednesday, May 8th. Finally, BNP Paribas downgraded shares of WK Kellogg from a “neutral” rating to an “underperform” rating and set a $20.00 price target for the company. in a research note on Wednesday, May 8th. Four equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat.com, WK Kellogg currently has a consensus rating of “Hold” and an average price target of $17.50.

View Our Latest Stock Report on KLG

WK Kellogg Stock Performance

The stock’s 50 day moving average price is $19.30 and its 200 day moving average price is $17.19. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.84 and a quick ratio of 0.43.

WK Kellogg (NYSE:KLGGet Free Report) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.37 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.37. The business had revenue of $707.00 million for the quarter, compared to analyst estimates of $697.83 million. The company’s quarterly revenue was down .7% on a year-over-year basis. Equities research analysts forecast that WK Kellogg Co will post 1.54 earnings per share for the current year.

WK Kellogg Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were issued a $0.16 dividend. The ex-dividend date was Friday, May 31st. This represents a $0.64 dividend on an annualized basis and a yield of 4.12%.

Hedge Funds Weigh In On WK Kellogg

A number of institutional investors and hedge funds have recently modified their holdings of KLG. Eukles Asset Management acquired a new position in shares of WK Kellogg during the 4th quarter valued at $25,000. Canal Insurance CO acquired a new position in shares of WK Kellogg during the fourth quarter valued at about $26,000. Toth Financial Advisory Corp bought a new position in shares of WK Kellogg during the 4th quarter worth about $26,000. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of WK Kellogg in the 4th quarter valued at about $26,000. Finally, Brown Brothers Harriman & Co. acquired a new stake in shares of WK Kellogg in the 4th quarter valued at about $27,000. 95.74% of the stock is currently owned by institutional investors.

WK Kellogg Company Profile

(Get Free Report)

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.

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