WK Kellogg Co (NYSE:KLG) Receives Average Recommendation of “Reduce” from Analysts

WK Kellogg Co (NYSE:KLG) has received a consensus recommendation of “Reduce” from the eight ratings firms that are covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a sell rating and five have issued a hold rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $18.50.

A number of research analysts recently commented on KLG shares. Barclays lowered their price objective 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. Stifel Nicolaus lowered their price objective on shares of WK Kellogg from $22.00 to $18.00 and set a “hold” rating on the stock in a research note on Tuesday, July 23rd. Bank of America cut shares of WK Kellogg from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $24.00 to $17.00 in a report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. reduced their target price on shares of WK Kellogg from $22.00 to $17.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th.

WK Kellogg Price Performance

KLG opened at $16.86 on Wednesday. The firm has a market cap of $1.45 billion and a price-to-earnings ratio of 11.17. WK Kellogg has a fifty-two week low of $9.65 and a fifty-two week high of $24.63. The company’s 50-day moving average price is $17.43 and its 200 day moving average price is $18.64. The company has a quick ratio of 0.36, a current ratio of 0.83 and a debt-to-equity ratio of 1.42.

WK Kellogg (NYSE:KLG) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.06). WK Kellogg had a net margin of 4.45% and a return on equity of 42.12%. The company had revenue of $672.00 million for the quarter, compared to analyst estimates of $671.50 million. The company’s revenue was down 4.0% compared to the same quarter last year. As a group, sell-side analysts expect that WK Kellogg will post 1.5 earnings per share for the current year.

WK Kellogg Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 29th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date of this dividend was Thursday, August 29th. WK Kellogg’s dividend payout ratio is currently 42.38%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Brown Brothers Harriman & Co. acquired a new position in WK Kellogg during the fourth quarter valued at approximately $27,000. EntryPoint Capital LLC acquired a new position in WK Kellogg during the first quarter valued at approximately $42,000. Rothschild Investment LLC acquired a new position in shares of WK Kellogg in the second quarter valued at approximately $46,000. Kapitalo Investimentos Ltda acquired a new position in shares of WK Kellogg in the fourth quarter valued at approximately $39,000. Finally, Quarry LP acquired a new position in shares of WK Kellogg in the fourth quarter valued at approximately $41,000. Institutional investors and hedge funds own 95.74% of the company’s stock.

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.