Stifel Nicolaus Lowers WK Kellogg (NYSE:KLG) Price Target to $18.00

WK Kellogg (NYSE:KLG) had its price objective decreased by equities research analysts at Stifel Nicolaus from $19.00 to $18.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “hold” rating on the stock. Stifel Nicolaus’ price target suggests a potential upside of 6.35% from the company’s current price.

Several other research analysts have also issued reports on the company. Barclays dropped their target price on WK Kellogg from $19.00 to $16.00 and set an “underweight” rating for the company in a research report on Friday, January 17th. TD Cowen downgraded WK Kellogg from a “hold” rating to a “sell” rating and cut their price target for the stock from $18.00 to $16.00 in a research report on Wednesday, January 8th. Four analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $18.14.

WK Kellogg Stock Performance

WK Kellogg stock traded down $0.04 during midday trading on Friday, reaching $16.93. 103,855 shares of the company traded hands, compared to its average volume of 904,178. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.78 and a quick ratio of 0.34. WK Kellogg has a 12 month low of $12.32 and a 12 month high of $24.63. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of 21.71 and a beta of 0.72. The business has a 50 day moving average of $18.43 and a two-hundred day moving average of $17.66.

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

Insider Activity

In other WK Kellogg news, Director G Zachary Gund acquired 65,000 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was acquired at an average price of $17.76 per share, with a total value of $1,154,400.00. Following the transaction, the director now directly owns 195,000 shares in the company, valued at approximately $3,463,200. This represents a 50.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On WK Kellogg

Institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC raised its position in shares of WK Kellogg by 88.6% during the third quarter. GAMMA Investing LLC now owns 1,890 shares of the company’s stock valued at $32,000 after buying an additional 888 shares during the last quarter. Abich Financial Wealth Management LLC boosted its holdings in WK Kellogg by 3,575.4% during 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 increased its position in shares of WK Kellogg by 1,724.1% in the 3rd quarter. International Assets Investment Management LLC now owns 4,688 shares of the company’s stock valued at $80,000 after buying an additional 4,431 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of WK Kellogg during the third quarter worth $99,000. Finally, Nisa Investment Advisors LLC boosted its holdings in WK Kellogg by 65.1% during the third quarter. Nisa Investment Advisors LLC now owns 8,802 shares of the company’s stock worth $151,000 after purchasing an additional 3,471 shares during the last quarter. 95.74% of the stock is currently owned by institutional investors and hedge funds.

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.