Barclays Lowers WK Kellogg (NYSE:KLG) Price Target to $16.00

WK Kellogg (NYSE:KLG) had its price objective dropped by equities research analysts at Barclays from $19.00 to $16.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 0.33% from the company’s previous close.

Separately, TD Cowen cut WK Kellogg from a “hold” rating to a “sell” rating and reduced their price objective for the company from $18.00 to $16.00 in a research report on Wednesday, January 8th. Four equities research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. Based on data from MarketBeat.com, WK Kellogg has a consensus rating of “Reduce” and an average target price of $18.14.

WK Kellogg Stock Up 0.6 %

Shares of WK Kellogg stock opened at $15.95 on Friday. The stock has a market capitalization of $1.37 billion, a P/E ratio of 20.44 and a beta of 0.72. The company has a quick ratio of 0.34, a current ratio of 0.78 and a debt-to-equity ratio of 1.49. The stock has a 50 day moving average price of $18.50 and a two-hundred day moving average price of $17.66. WK Kellogg has a 12-month low of $12.32 and a 12-month high of $24.63.

WK Kellogg (NYSE:KLG) last announced its earnings results on Thursday, November 7th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.05. WK Kellogg had a return on equity of 33.41% and a net margin of 2.50%. The firm had revenue of $689.00 million during the quarter, compared to analysts’ expectations of $674.10 million. During the same quarter in the prior year, the business earned $0.49 earnings per share. The company’s revenue was down .4% on a year-over-year basis. Equities analysts expect that WK Kellogg will post 1.49 earnings per share for the current year.

Insider Activity at WK Kellogg

In other news, Director G Zachary Gund bought 65,000 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was acquired at an average cost of $17.76 per share, for a total transaction of $1,154,400.00. Following the completion of the purchase, the director now owns 195,000 shares of the company’s stock, valued at $3,463,200. This trade represents a 50.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Alpha Omega Wealth Management LLC raised its stake in shares of WK Kellogg by 4.9% in the third quarter. Alpha Omega Wealth Management LLC now owns 12,880 shares of the company’s stock valued at $220,000 after purchasing an additional 600 shares in the last quarter. GAMMA Investing LLC raised its stake in WK Kellogg by 88.6% during the third quarter. GAMMA Investing LLC now owns 1,890 shares of the company’s stock worth $32,000 after acquiring an additional 888 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in WK Kellogg by 13.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 16,818 shares of the company’s stock worth $303,000 after acquiring an additional 1,955 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in WK Kellogg by 65.1% during the third quarter. Nisa Investment Advisors LLC now owns 8,802 shares of the company’s stock worth $151,000 after acquiring an additional 3,471 shares in the last quarter. Finally, Truist Financial Corp raised its stake in WK Kellogg by 11.4% during the second quarter. Truist Financial Corp now owns 38,808 shares of the company’s stock worth $639,000 after acquiring an additional 3,970 shares in the last quarter. 95.74% of the stock is currently owned by institutional investors and hedge funds.

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.