Jefferies Financial Group Lowers WK Kellogg (NYSE:KLG) Price Target to $16.00

WK Kellogg (NYSE:KLG - Get Free Report) had its price target cut by equities researchers at Jefferies Financial Group from $19.00 to $16.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "hold" rating on the stock. Jefferies Financial Group's target price points to a potential downside of 1.92% from the stock's current price.

Other research analysts also recently issued reports about the stock. TD Cowen downgraded shares of WK Kellogg from a "hold" rating to a "sell" rating and decreased their target price for the company from $18.00 to $16.00 in a research report on Wednesday, January 8th. Stifel Nicolaus cut their price target on shares of WK Kellogg from $19.00 to $18.00 and set a "hold" rating for the company in a report on Friday. Finally, Barclays decreased their price target on shares of WK Kellogg from $19.00 to $16.00 and set an "underweight" rating for the company in a research report on Friday, January 17th. Four analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $17.88.

WK Kellogg Stock Down 7.2 %

NYSE:KLG traded down $1.27 during mid-day trading on Tuesday, reaching $16.31. The company's stock had a trading volume of 1,386,693 shares, compared to its average volume of 958,523. The company has a quick ratio of 0.34, a current ratio of 0.78 and a debt-to-equity ratio of 1.49. The firm has a market capitalization of $1.41 billion, a PE ratio of 20.92 and a beta of 0.72. The stock has a fifty day moving average of $18.42 and a 200-day moving average of $17.68. WK Kellogg has a 1 year low of $12.32 and a 1 year high of $24.63.

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

Insiders Place Their Bets

In related news, Director G Zachary Gund acquired 65,000 shares of the firm's stock in a transaction that occurred on Tuesday, November 12th. The shares were purchased at an average price of $17.94 per share, with a total value of $1,166,100.00. Following the completion of the acquisition, the director now owns 65,000 shares in the company, valued at approximately $1,166,100. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On WK Kellogg

Institutional investors and hedge funds have recently made changes to their positions in the business. Alpha Omega Wealth Management LLC lifted its stake in shares of WK Kellogg by 4.9% during the third quarter. Alpha Omega Wealth Management LLC now owns 12,880 shares of the company's stock valued at $220,000 after buying an additional 600 shares during the period. GAMMA Investing LLC lifted its stake 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 purchasing an additional 888 shares during the period. Janney Montgomery Scott LLC boosted its holdings in shares of WK Kellogg by 13.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 16,818 shares of the company's stock worth $303,000 after purchasing an additional 1,955 shares during the last quarter. Spire Wealth Management acquired a new position in shares of WK Kellogg during the 4th quarter valued at about $56,000. Finally, Inlet Private Wealth LLC boosted its holdings in shares of WK Kellogg by 1.0% in the 4th quarter. Inlet Private Wealth LLC now owns 324,040 shares of the company's stock valued at $5,829,000 after purchasing an additional 3,200 shares during the last quarter. 95.74% of the stock is currently owned by hedge funds and other institutional investors.

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.

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