WK Kellogg Co (NYSE:KLG) Short Interest Update

WK Kellogg Co (NYSE:KLG) saw a significant increase in short interest during the month of July. As of July 15th, there was short interest totalling 8,000,000 shares, an increase of 6.1% from the June 30th total of 7,540,000 shares. Based on an average daily trading volume, of 1,120,000 shares, the short-interest ratio is currently 7.1 days. Currently, 12.3% of the shares of the company are short sold.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of KLG. SG Americas Securities LLC acquired a new position in WK Kellogg during the fourth quarter valued at approximately $396,000. State of Alaska Department of Revenue bought a new position in shares of WK Kellogg in the 4th quarter valued at $533,000. Fifth Third Bancorp acquired a new position in shares of WK Kellogg during the 4th quarter worth $32,000. Canal Insurance CO acquired a new position in shares of WK Kellogg during the 4th quarter worth $26,000. Finally, Camelot Portfolios LLC bought a new stake in shares of WK Kellogg during the 4th quarter worth $737,000. Institutional investors and hedge funds own 95.74% of the company’s stock.

WK Kellogg Stock Down 1.4 %

Shares of KLG opened at $17.36 on Friday. WK Kellogg has a 12 month low of $9.65 and a 12 month high of $24.63. The company has a quick ratio of 0.43, a current ratio of 0.84 and a debt-to-equity ratio of 1.53. The firm’s 50 day moving average is $17.36 and its 200-day moving average is $17.55.

WK Kellogg (NYSE:KLG) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.37 earnings per share for the quarter, meeting the consensus estimate of $0.37. The company had revenue of $707.00 million during the quarter, compared to analyst estimates of $697.83 million. The firm’s revenue was down .7% on a year-over-year basis. On average, analysts expect that WK Kellogg will post 1.53 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on KLG shares. Bank of America downgraded WK Kellogg from a “neutral” rating to an “underperform” rating and cut their price target for the company from $24.00 to $17.00 in a report on Wednesday, July 10th. TD Cowen raised their target price on shares of WK Kellogg from $13.00 to $24.00 and gave the stock a “hold” rating in a research note on Wednesday, May 8th. Barclays decreased their price target on shares of WK Kellogg from $19.00 to $16.00 and set an “underweight” rating on the stock in a research note on Friday, July 19th. BNP Paribas downgraded shares of WK Kellogg from a “neutral” rating to an “underperform” rating and set a $20.00 price objective for the company. in a research report on Wednesday, May 8th. Finally, Stifel Nicolaus lowered their target price on WK Kellogg from $22.00 to $18.00 and set a “hold” rating on the stock in a research note on Tuesday, July 23rd. Four equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $16.80.

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.