WK Kellogg Co (NYSE:KLG) Receives $19.71 Consensus Price Target from Analysts

Shares of WK Kellogg Co (NYSE:KLG) have received an average rating of “Reduce” from the seven research firms that are currently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $19.71.

Separately, Barclays boosted their price target on shares of WK Kellogg from $16.00 to $19.00 and gave the company an “underweight” rating in a research report on Monday, November 11th.

WK Kellogg Stock Performance

KLG opened at $17.92 on Monday. WK Kellogg has a twelve month low of $12.28 and a twelve month high of $24.63. The firm has a market capitalization of $1.54 billion, a PE ratio of 22.97 and a beta of 0.07. The company has a current ratio of 0.78, a quick ratio of 0.34 and a debt-to-equity ratio of 1.49. The firm’s 50-day moving average price is $18.61 and its 200 day moving average price is $17.72.

WK Kellogg (NYSE:KLG) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.26 by $0.05. The firm had revenue of $689.00 million during the quarter, compared to analysts’ expectations of $674.10 million. WK Kellogg had a return on equity of 33.41% and a net margin of 2.50%. The business’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter last year, the firm earned $0.49 earnings per share. As a group, sell-side analysts expect that WK Kellogg will post 1.49 EPS for the current fiscal year.

WK Kellogg Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.57%. The ex-dividend date of this dividend was Friday, November 29th. WK Kellogg’s dividend payout ratio (DPR) is presently 82.05%.

Insider Buying and Selling at WK Kellogg

In other news, Director G Zachary Gund acquired 65,000 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was acquired at an average cost of $17.76 per share, with a total value of $1,154,400.00. Following the completion of the purchase, the director now owns 195,000 shares of the company’s stock, valued at $3,463,200. This represents a 50.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On WK Kellogg

Hedge funds and other institutional investors have recently bought and sold shares of the company. Royce & Associates LP increased its stake in WK Kellogg by 199.8% during the third quarter. Royce & Associates LP now owns 71,987 shares of the company’s stock worth $1,232,000 after purchasing an additional 47,973 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of WK Kellogg by 7.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,112,558 shares of the company’s stock valued at $19,036,000 after purchasing an additional 79,808 shares in the last quarter. Seven Eight Capital LP purchased a new stake in WK Kellogg during the 2nd quarter worth approximately $577,000. Captrust Financial Advisors lifted its holdings in WK Kellogg by 12,352.1% during the 3rd quarter. Captrust Financial Advisors now owns 1,516,417 shares of the company’s stock worth $25,946,000 after buying an additional 1,504,239 shares in the last quarter. Finally, Atlas Financial Advisors Inc. purchased a new position in WK Kellogg in the 3rd quarter valued at approximately $818,000. 95.74% of the stock is currently owned by hedge funds and other institutional investors.

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.