WK Kellogg (NYSE:KLG) Stock Price Expected to Rise, Barclays Analyst Says

WK Kellogg (NYSE:KLG - Free Report) had its target price raised by Barclays from $16.00 to $19.00 in a report published on Monday morning,Benzinga reports. Barclays currently has an underweight rating on the stock.

Several other analysts also recently commented on KLG. JPMorgan Chase & Co. reduced their target price on WK Kellogg from $22.00 to $17.00 and set a "neutral" rating for the company in a research note on Wednesday, August 7th. Stifel Nicolaus reduced their target price on WK Kellogg from $22.00 to $18.00 and set a "hold" rating for the company in a research note on Tuesday, July 23rd. Three analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $18.88.

WK Kellogg Trading Down 0.2 %

WK Kellogg stock traded down $0.04 during trading hours on Monday, reaching $18.01. 1,215,516 shares of the company's stock were exchanged, compared to its average volume of 1,036,680. The company has a quick ratio of 0.36, a current ratio of 0.78 and a debt-to-equity ratio of 1.49. The firm's 50 day simple moving average is $17.52 and its 200 day simple moving average is $18.11. The firm has a market capitalization of $1.55 billion and a PE ratio of 23.09. WK Kellogg has a twelve month low of $10.33 and a twelve month high of $24.63.

WK Kellogg (NYSE:KLG - Get Free Report) last issued its 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 company had revenue of $689.00 million during 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%. The firm's revenue for the quarter was down .4% compared to the same quarter last year. During the same period last year, the business posted $0.49 EPS. Research analysts predict that WK Kellogg will post 1.52 earnings per share for the current year.

WK Kellogg Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.64 dividend on an annualized basis and a yield of 3.55%. WK Kellogg's dividend payout ratio (DPR) is currently 82.05%.

Hedge Funds Weigh In On WK Kellogg

Hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its position in shares of WK Kellogg by 88.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,890 shares of the company's stock worth $32,000 after buying an additional 888 shares in the last quarter. EntryPoint Capital LLC bought a new position in shares of WK Kellogg during the 1st quarter worth approximately $42,000. Rothschild Investment LLC bought a new position in shares of WK Kellogg during the 2nd quarter worth approximately $46,000. Abich Financial Wealth Management LLC lifted its position in shares of WK Kellogg by 3,575.4% during the 3rd 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 in the last quarter. Finally, International Assets Investment Management LLC lifted its position 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 buying an additional 4,431 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.