WK Kellogg Co (NYSE:KLG) Given Average Recommendation of “Reduce” by Analysts

WK Kellogg Co (NYSE:KLG) has been assigned an average rating of “Reduce” from the eight ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $18.88.

Several research analysts have recently weighed in on KLG shares. JPMorgan Chase & Co. reduced their price objective on WK Kellogg from $22.00 to $17.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Barclays increased their price target on WK Kellogg from $16.00 to $19.00 and gave the company an “underweight” rating in a research report on Monday, November 11th.

Insider Buying and Selling at WK Kellogg

In other news, Director G Zachary Gund bought 65,000 shares of the stock in a transaction dated Thursday, November 14th. The shares were bought at an average price 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 in the company, valued at approximately $3,463,200. This trade represents a 50.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On WK Kellogg

A number of hedge funds have recently added to or reduced their stakes in the stock. Alpha Omega Wealth Management LLC increased its stake in WK Kellogg by 4.9% during the 3rd quarter. Alpha Omega Wealth Management LLC now owns 12,880 shares of the company’s stock worth $220,000 after acquiring an additional 600 shares during the period. GAMMA Investing LLC increased its stake in WK Kellogg by 88.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,890 shares of the company’s stock worth $32,000 after acquiring an additional 888 shares during the period. Ancora Advisors LLC increased its stake in WK Kellogg by 0.5% during the 1st quarter. Ancora Advisors LLC now owns 318,596 shares of the company’s stock worth $5,990,000 after acquiring an additional 1,550 shares during the period. Price T Rowe Associates Inc. MD increased its stake in WK Kellogg by 15.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,638 shares of the company’s stock worth $276,000 after acquiring an additional 2,009 shares during the period. Finally, EntryPoint Capital LLC bought a new position in WK Kellogg during the 1st quarter worth $42,000. Institutional investors own 95.74% of the company’s stock.

WK Kellogg Stock Down 0.7 %

NYSE:KLG opened at $17.08 on Thursday. WK Kellogg has a 1 year low of $10.99 and a 1 year high of $24.63. The company has a current ratio of 0.78, a quick ratio of 0.34 and a debt-to-equity ratio of 1.49. The stock has a market cap of $1.47 billion and a price-to-earnings ratio of 21.90. The stock has a 50-day moving average price of $17.48 and a two-hundred day moving average price of $17.79.

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

WK Kellogg Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a $0.16 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.64 annualized dividend and a yield of 3.75%. WK Kellogg’s dividend payout ratio is 82.05%.

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.