Analysts Set WK Kellogg Co (NYSE:KLG) Price Target at $16.95

Shares of WK Kellogg Co (NYSE:KLG) have been given a consensus rating of “Reduce” by the ten brokerages that are currently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation and seven have given a hold recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $16.95.

A number of equities research analysts recently weighed in on KLG shares. BNP Paribas lowered shares of WK Kellogg from a “neutral” rating to an “underperform” rating and set a $20.00 target price on the stock. in a report on Wednesday, May 8th. TD Cowen upped their target price on shares of WK Kellogg from $13.00 to $24.00 and gave the stock a “hold” rating in a report on Wednesday, May 8th. Evercore ISI upped their target price on shares of WK Kellogg from $21.00 to $23.00 and gave the stock an “in-line” rating in a report on Wednesday, May 8th. Barclays upped their target price on shares of WK Kellogg from $15.00 to $19.00 and gave the stock an “underweight” rating in a report on Thursday, May 9th. Finally, Stifel Nicolaus increased their price objective on shares of WK Kellogg from $20.00 to $22.00 and gave the company a “hold” rating in a research note on Wednesday, May 8th.

Institutional Investors Weigh In On WK Kellogg

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

WK Kellogg Stock Performance

KLG stock opened at $16.46 on Monday. The company’s 50-day moving average is $20.15 and its 200-day moving average is $17.02. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.84 and a quick ratio of 0.43. WK Kellogg has a 1 year low of $9.65 and a 1 year high of $24.63.

WK Kellogg (NYSE:KLG) last posted its earnings results on Tuesday, May 7th. The company reported $0.37 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.37. The business had revenue of $707.00 million during the quarter, compared to analyst estimates of $697.83 million. The business’s revenue was down .7% on a year-over-year basis. Equities analysts anticipate that WK Kellogg will post 1.54 EPS for the current year.

WK Kellogg Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were paid a dividend of $0.16 per share. The ex-dividend date was Friday, May 31st. This represents a $0.64 annualized dividend and a dividend yield of 3.89%.

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.