WK Kellogg (NYSE:KLG) Reaches New 1-Year High at $22.08

WK Kellogg Co (NYSE:KLG) reached a new 52-week high during trading on Monday . The stock traded as high as $22.08 and last traded at $22.07, with a volume of 902541 shares traded. The stock had previously closed at $21.22.

Wall Street Analysts Forecast Growth

Several research firms have commented on KLG. Barclays lifted their price objective on shares of WK Kellogg from $12.00 to $15.00 and gave the stock an “underweight” rating in a research note on Friday, April 12th. Stifel Nicolaus boosted their target price on shares of WK Kellogg from $11.00 to $13.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. Two equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $12.75.

WK Kellogg Stock Up 8.1 %

The stock’s 50 day moving average price is $17.62 and its 200-day moving average price is $13.94. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.43 and a current ratio of 0.84.

WK Kellogg (NYSE:KLG) last released its quarterly earnings results on Tuesday, February 13th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.03). The business had revenue of $651.00 million for the quarter, compared to analyst estimates of $645.87 million. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. Analysts predict that WK Kellogg Co will post 1.51 EPS for the current year.

WK Kellogg Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend was Thursday, February 29th.

Hedge Funds Weigh In On WK Kellogg

Hedge funds and other institutional investors have recently modified their holdings of the stock. Eukles Asset Management purchased a new position in shares of WK Kellogg in the 4th quarter valued at approximately $25,000. Canal Insurance CO purchased a new position in shares of WK Kellogg in the 4th quarter valued at approximately $26,000. Toth Financial Advisory Corp purchased a new position in WK Kellogg during the 4th quarter worth approximately $26,000. Benjamin F. Edwards & Company Inc. purchased a new position in WK Kellogg during the 4th quarter worth approximately $26,000. Finally, Brown Brothers Harriman & Co. purchased a new position in WK Kellogg during the 4th quarter worth approximately $27,000. 95.74% of the stock is owned by hedge funds and other institutional investors.

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.