WK Kellogg Co (NYSE:KLG) Receives $19.71 Consensus Price Target from Analysts

Shares of WK Kellogg Co (NYSE:KLG) have received an average recommendation of “Reduce” from the seven research firms that are currently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $19.71.

Separately, Barclays lifted their price objective on shares of WK Kellogg from $16.00 to $19.00 and gave the company an “underweight” rating in a research note on Monday, November 11th.

Insiders Place Their Bets

In other WK Kellogg news, Director G Zachary Gund purchased 65,000 shares of the stock in a transaction dated Thursday, November 14th. The shares were acquired at an average cost of $17.76 per share, for a total transaction of $1,154,400.00. Following the completion of the transaction, the director now directly owns 195,000 shares of the company’s stock, valued at $3,463,200. This trade represents a 50.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 0.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On WK Kellogg

A number of large investors have recently bought and sold shares of KLG. Captrust Financial Advisors lifted its stake in shares of WK Kellogg by 12,352.1% during the third quarter. Captrust Financial Advisors now owns 1,516,417 shares of the company’s stock valued at $25,946,000 after buying an additional 1,504,239 shares during the period. AQR Capital Management LLC lifted its stake in shares of WK Kellogg by 579.1% during the 2nd quarter. AQR Capital Management LLC now owns 1,403,854 shares of the company’s stock worth $23,107,000 after purchasing an additional 1,197,133 shares during the period. Jupiter Asset Management Ltd. boosted its holdings in shares of WK Kellogg by 64.4% during the second quarter. Jupiter Asset Management Ltd. now owns 873,047 shares of the company’s stock worth $14,370,000 after purchasing an additional 341,939 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of WK Kellogg by 124.5% in the second quarter. Renaissance Technologies LLC now owns 538,600 shares of the company’s stock valued at $8,865,000 after purchasing an additional 298,700 shares during the period. Finally, Verition Fund Management LLC increased its stake in WK Kellogg by 563.8% in the third quarter. Verition Fund Management LLC now owns 333,321 shares of the company’s stock valued at $5,703,000 after purchasing an additional 283,104 shares during the last quarter. Institutional investors and hedge funds own 95.74% of the company’s stock.

WK Kellogg Price Performance

Shares of NYSE:KLG opened at $18.23 on Monday. WK Kellogg has a 12 month low of $11.97 and a 12 month high of $24.63. The firm has a market capitalization of $1.57 billion, a P/E ratio of 23.37 and a beta of 0.07. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.78 and a quick ratio of 0.34. The company’s fifty day moving average price is $18.59 and its 200 day moving average price is $17.74.

WK Kellogg (NYSE:KLG) last posted its earnings results on Thursday, November 7th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.05. The business had revenue of $689.00 million for 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%. The business’s revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.49 earnings per share. As a group, sell-side analysts predict that WK Kellogg will post 1.49 earnings per share for the current fiscal year.

WK Kellogg Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a $0.16 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.64 dividend on an annualized basis and a yield of 3.51%. WK Kellogg’s payout ratio is currently 82.05%.

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.