WK Kellogg (NYSE:KLG) Now Covered by Morgan Stanley

Equities researchers at Morgan Stanley began coverage on shares of WK Kellogg (NYSE:KLG - Get Free Report) in a report released on Monday, MarketBeat reports. The firm set an "underweight" rating and a $18.00 price target on the stock. Morgan Stanley's target price would indicate a potential downside of 2.96% from the company's previous close.

A number of other equities research analysts also recently commented on KLG. Jefferies Financial Group decreased their target price on WK Kellogg from $19.00 to $16.00 and set a "hold" rating for the company in a report on Tuesday, January 28th. Stifel Nicolaus decreased their price objective on shares of WK Kellogg from $19.00 to $18.00 and set a "hold" rating for the company in a research note on Friday, January 24th. Barclays cut their price objective on shares of WK Kellogg from $19.00 to $16.00 and set an "underweight" rating on the stock in a research note on Friday, January 17th. Finally, 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. Five equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Reduce" and an average target price of $17.89.

WK Kellogg Stock Performance

KLG stock traded up $0.33 during trading on Monday, reaching $18.55. The company had a trading volume of 517,965 shares, compared to its average volume of 1,004,521. The company has a market cap of $1.60 billion, a price-to-earnings ratio of 22.90, a price-to-earnings-growth ratio of 2.01 and a beta of 0.30. WK Kellogg has a twelve month low of $15.17 and a twelve month high of $24.63. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.32 and a current ratio of 0.74. The firm has a 50-day simple moving average of $18.34 and a 200-day simple moving average of $18.19.

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WK Kellogg (NYSE:KLG - Get Free Report) last released its earnings results on Tuesday, February 11th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.14. WK Kellogg had a return on equity of 39.81% and a net margin of 2.66%. As a group, sell-side analysts expect that WK Kellogg will post 1.57 earnings per share for the current year.

Institutional Investors Weigh In On WK Kellogg

Several hedge funds have recently modified their holdings of KLG. Keybank National Association OH raised its holdings in WK Kellogg by 1.1% in the 4th quarter. Keybank National Association OH now owns 4,925,470 shares of the company's stock worth $88,609,000 after purchasing an additional 52,129 shares during the period. Capital International Investors increased its position in shares of WK Kellogg by 149.8% in the fourth quarter. Capital International Investors now owns 4,186,763 shares of the company's stock valued at $75,320,000 after buying an additional 2,510,779 shares in the last quarter. Jupiter Asset Management Ltd. raised its stake in shares of WK Kellogg by 172.9% during the 4th quarter. Jupiter Asset Management Ltd. now owns 2,494,881 shares of the company's stock worth $44,883,000 after buying an additional 1,580,704 shares during the period. D. E. Shaw & Co. Inc. lifted its position in shares of WK Kellogg by 0.9% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,827,524 shares of the company's stock valued at $32,877,000 after buying an additional 17,088 shares in the last quarter. Finally, Captrust Financial Advisors grew its stake in WK Kellogg by 12.5% in the 4th quarter. Captrust Financial Advisors now owns 1,705,509 shares of the company's stock valued at $30,682,000 after acquiring an additional 189,092 shares during the period. 95.74% of the stock is 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.