Stifel Nicolaus Boosts WK Kellogg (NYSE:KLG) Price Target to $20.00

WK Kellogg (NYSE:KLG) had its target price lifted by Stifel Nicolaus from $13.00 to $20.00 in a research report report published on Friday morning, Benzinga reports. The brokerage currently has a hold rating on the stock.

Separately, Barclays lifted their target price on shares of WK Kellogg from $12.00 to $15.00 and gave the stock an underweight rating in a research report on Friday, April 12th. Two analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat, WK Kellogg presently has an average rating of Hold and a consensus target price of $13.45.

WK Kellogg Trading Down 1.7 %

NYSE:KLG opened at $23.54 on Friday. WK Kellogg has a one year low of $9.65 and a one year high of $24.63. The company’s 50-day simple moving average is $18.34 and its 200 day simple moving average is $14.32. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.84 and a quick ratio of 0.43.

WK Kellogg (NYSE:KLG) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.03). The firm had revenue of $651.00 million during the quarter, compared to analysts’ expectations of $645.87 million. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. As a group, equities analysts anticipate that WK Kellogg will post 1.51 earnings per share for the current fiscal year.

WK Kellogg Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a dividend of $0.16 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.72%.

Institutional Trading of WK Kellogg

A number of large investors have recently made changes to their positions in KLG. Alpha Omega Wealth Management LLC increased its stake in shares of WK Kellogg by 15.2% during the first quarter. Alpha Omega Wealth Management LLC now owns 13,080 shares of the company’s stock valued at $246,000 after buying an additional 1,725 shares during the period. Eukles Asset Management bought a new position in WK Kellogg during the 4th quarter worth about $25,000. Benjamin F. Edwards & Company Inc. purchased a new position in WK Kellogg during the 4th quarter valued at about $26,000. Toth Financial Advisory Corp bought a new stake in shares of WK Kellogg in the 4th quarter valued at about $26,000. Finally, Canal Insurance CO purchased a new stake in shares of WK Kellogg in the 4th quarter worth approximately $26,000. 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.