WK Kellogg (NYSE:KLG) Rating Lowered to Underperform at BNP Paribas

WK Kellogg (NYSE:KLG) was downgraded by equities researchers at BNP Paribas from a “neutral” rating to an “underperform” rating in a research note issued to investors on Wednesday, Marketbeat reports. They currently have a $20.00 price objective on the stock. BNP Paribas’ target price indicates a potential downside of 17.59% from the stock’s current price.

Several other research firms also recently weighed in on KLG. Stifel Nicolaus boosted their price target on shares of WK Kellogg from $13.00 to $20.00 and gave the company a “hold” rating in a research report on Friday, April 26th. Barclays lifted their price target on WK Kellogg from $12.00 to $15.00 and gave the company an “underweight” rating in a research report on Friday, April 12th. Three analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $14.05.

WK Kellogg Stock Up 3.1 %

Shares of WK Kellogg stock opened at $24.27 on Wednesday. The stock has a fifty day moving average price of $19.42 and a 200-day moving average price of $14.89. The company has a quick ratio of 0.43, a current ratio of 0.84 and a debt-to-equity ratio of 1.62. WK Kellogg has a 1 year low of $9.65 and a 1 year high of $24.63.

WK Kellogg (NYSE:KLG) last released its earnings results on Tuesday, February 13th. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.03). The business had revenue of $651.00 million for the quarter, compared to analysts’ expectations of $645.87 million. The business’s revenue was down 2.7% compared to the same quarter last year. On average, analysts anticipate that WK Kellogg will post 1.51 earnings per share for the current year.

Institutional Trading of WK Kellogg

Several institutional investors have recently added to or reduced their stakes in KLG. Kellogg W K Foundation Trust purchased a new stake in WK Kellogg during the fourth quarter valued at about $177,458,000. Massachusetts Financial Services Co. MA bought a new position in shares of WK Kellogg during the fourth quarter valued at about $18,412,000. Beutel Goodman & Co Ltd. bought a new position in shares of WK Kellogg during the fourth quarter valued at about $13,730,000. London & Capital Asset Management Ltd bought a new position in shares of WK Kellogg during the fourth quarter valued at about $10,363,000. Finally, Private Management Group Inc. bought a new position in shares of WK Kellogg during the fourth quarter valued at about $8,956,000. 95.74% of the stock is currently 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.