WK Kellogg (NYSE:KLG) Rating Lowered to Sell at Wall Street Zen

WK Kellogg (NYSE:KLG) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

Separately, Morgan Stanley began coverage on shares of WK Kellogg in a report on Monday, March 24th. They set an “underweight” rating and a $18.00 price target on the stock. Five investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $16.86.

WK Kellogg Price Performance

Shares of NYSE:KLG opened at $17.53 on Friday. The business has a fifty day moving average price of $16.79 and a 200-day moving average price of $17.81. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.78 and a quick ratio of 0.34. The company has a market capitalization of $1.51 billion, a PE ratio of 27.38, a PEG ratio of 1.89 and a beta of 0.23. WK Kellogg has a 1-year low of $14.80 and a 1-year high of $22.21.

WK Kellogg (NYSE:KLG) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.21). The firm had revenue of $667.00 million for the quarter, compared to analysts’ expectations of $677.91 million. WK Kellogg had a net margin of 2.14% and a return on equity of 34.88%. The business’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period last year, the company posted $0.37 earnings per share. As a group, equities analysts expect that WK Kellogg will post 1.57 EPS for the current fiscal year.

Hedge Funds Weigh In On WK Kellogg

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its holdings in shares of WK Kellogg by 11.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,240,046 shares of the company’s stock valued at $22,308,000 after purchasing an additional 127,488 shares during the last quarter. Victory Capital Management Inc. grew its position in WK Kellogg by 1,217.5% in the 4th quarter. Victory Capital Management Inc. now owns 233,997 shares of the company’s stock worth $4,210,000 after purchasing an additional 216,236 shares during the period. Royce & Associates LP raised its stake in WK Kellogg by 46.0% during the 4th quarter. Royce & Associates LP now owns 105,134 shares of the company’s stock valued at $1,891,000 after buying an additional 33,147 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of WK Kellogg during the 4th quarter valued at $273,000. Finally, Amundi lifted its holdings in shares of WK Kellogg by 2,471.1% during the 4th quarter. Amundi now owns 119,068 shares of the company’s stock valued at $2,142,000 after buying an additional 114,437 shares during the period. Institutional investors own 95.74% of the company’s stock.

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.