Barclays Issues Pessimistic Forecast for WK Kellogg (NYSE:KLG) Stock Price

WK Kellogg (NYSE:KLG) had its price objective cut by Barclays from $19.00 to $16.00 in a report published on Friday,Benzinga reports. They currently have an underweight rating on the stock.

Separately, TD Cowen lowered shares of WK Kellogg from a “hold” rating to a “sell” rating and reduced their price target for the stock from $18.00 to $16.00 in a research report on Wednesday, January 8th. Four equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $18.14.

WK Kellogg Trading Up 0.6 %

WK Kellogg stock opened at $15.95 on Friday. The company has a 50 day moving average price of $18.50 and a 200 day moving average price of $17.65. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.34 and a current ratio of 0.78. WK Kellogg has a 52 week low of $12.32 and a 52 week high of $24.63. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of 20.44 and a beta of 0.72.

WK Kellogg (NYSE:KLG) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.05. The business had revenue of $689.00 million for the quarter, compared to the consensus estimate of $674.10 million. WK Kellogg had a return on equity of 33.41% and a net margin of 2.50%. WK Kellogg’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 earnings per share. Research analysts forecast that WK Kellogg will post 1.49 EPS for the current year.

WK Kellogg Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were issued a dividend of $0.16 per share. The ex-dividend date was Friday, November 29th. This represents a $0.64 annualized dividend and a dividend yield of 4.01%. WK Kellogg’s dividend payout ratio is 82.05%.

Insider Activity at WK Kellogg

In other WK Kellogg news, Director G Zachary Gund bought 65,000 shares of WK Kellogg stock in a transaction on Thursday, November 14th. The stock was purchased at an average cost of $17.76 per share, for a total transaction of $1,154,400.00. Following the completion of the purchase, the director now directly owns 195,000 shares of the company’s stock, valued at $3,463,200. The trade was a 50.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of KLG. GAMMA Investing LLC boosted its holdings in WK Kellogg by 88.6% in the third quarter. GAMMA Investing LLC now owns 1,890 shares of the company’s stock worth $32,000 after purchasing an additional 888 shares in the last quarter. Abich Financial Wealth Management LLC lifted its position in shares of WK Kellogg by 3,575.4% in the third quarter. Abich Financial Wealth Management LLC now owns 4,484 shares of the company’s stock worth $77,000 after buying an additional 4,362 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of WK Kellogg by 1,724.1% during the 3rd quarter. International Assets Investment Management LLC now owns 4,688 shares of the company’s stock worth $80,000 after acquiring an additional 4,431 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of WK Kellogg during the 3rd quarter valued at about $99,000. Finally, Nisa Investment Advisors LLC raised its stake in shares of WK Kellogg by 65.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 8,802 shares of the company’s stock valued at $151,000 after acquiring an additional 3,471 shares in the last quarter. 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.