Brokerages Set WK Kellogg Co (NYSE:KLG) Target Price at $17.89

Shares of WK Kellogg Co (NYSE:KLG) have received an average rating of “Strong Sell” from the nine brokerages that are currently covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $17.89.

Several analysts recently commented on the company. Barclays lowered their target price on WK Kellogg from $19.00 to $16.00 and set an “underweight” rating on the stock in a research report on Friday, January 17th. TD Cowen lowered WK Kellogg from a “hold” rating to a “sell” rating and lowered their price target for the company from $18.00 to $16.00 in a report on Wednesday, January 8th. Morgan Stanley started coverage on shares of WK Kellogg in a report on Monday, March 24th. They issued an “underweight” rating and a $18.00 price objective for the company. Stifel Nicolaus lowered their target price on shares of WK Kellogg from $19.00 to $18.00 and set a “hold” rating on the stock in a research note on Friday, January 24th. Finally, Jefferies Financial Group dropped their price target on shares of WK Kellogg from $19.00 to $16.00 and set a “hold” rating on the stock in a research report on Tuesday, January 28th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Truist Financial Corp raised its position in shares of WK Kellogg by 2.2% during the fourth quarter. Truist Financial Corp now owns 39,658 shares of the company’s stock worth $713,000 after purchasing an additional 838 shares during the period. GAMMA Investing LLC increased its stake in WK Kellogg by 49.4% in the 4th quarter. GAMMA Investing LLC now owns 2,823 shares of the company’s stock worth $51,000 after purchasing an additional 933 shares in the last quarter. Ancora Advisors LLC raised its holdings in WK Kellogg by 181.8% during the 4th quarter. Ancora Advisors LLC now owns 1,519 shares of the company’s stock worth $27,000 after buying an additional 980 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in WK Kellogg by 3.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,338 shares of the company’s stock valued at $672,000 after buying an additional 1,339 shares in the last quarter. Finally, Halbert Hargrove Global Advisors LLC acquired a new position in shares of WK Kellogg in the fourth quarter worth about $25,000. Institutional investors and hedge funds own 95.74% of the company’s stock.

WK Kellogg Stock Performance

Shares of KLG opened at $19.53 on Wednesday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.32 and a current ratio of 0.74. WK Kellogg has a 1 year low of $15.17 and a 1 year high of $24.63. The firm has a fifty day moving average of $18.56 and a 200-day moving average of $18.22. The company has a market cap of $1.68 billion, a price-to-earnings ratio of 24.10, a price-to-earnings-growth ratio of 2.01 and a beta of 0.30.

WK Kellogg (NYSE:KLG) last posted its earnings results on Tuesday, February 11th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.14. WK Kellogg had a net margin of 2.66% and a return on equity of 39.81%. As a group, equities analysts anticipate that WK Kellogg will post 1.57 earnings per share for the current year.

WK Kellogg Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a dividend of $0.165 per share. The ex-dividend date of this dividend was Friday, February 28th. This is a positive change from WK Kellogg’s previous quarterly dividend of $0.16. This represents a $0.66 annualized dividend and a yield of 3.38%. WK Kellogg’s dividend payout ratio is currently 81.48%.

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.