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

Morgan Stanley assumed coverage on shares of WK Kellogg (NYSE:KLG - Get Free Report) in a report issued on Monday, MarketBeat Ratings reports. The brokerage set an "underweight" rating and a $18.00 price target on the stock. Morgan Stanley's target price would suggest a potential downside of 7.81% from the company's previous close.

KLG has been the subject of several other research reports. Jefferies Financial Group lowered their price target on shares of WK Kellogg from $19.00 to $16.00 and set a "hold" rating for the company in a report on Tuesday, January 28th. Barclays lowered their target price on shares of WK Kellogg from $19.00 to $16.00 and set an "underweight" rating for the company in a research note on Friday, January 17th. Stifel Nicolaus cut their price target on shares of WK Kellogg from $19.00 to $18.00 and set a "hold" rating on the stock in a research report on Friday, January 24th. Finally, TD Cowen cut 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 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 data from MarketBeat, the stock has an average rating of "Reduce" and a consensus target price of $17.89.

WK Kellogg Trading Down 0.5 %

Shares of NYSE:KLG traded down $0.11 during mid-day trading on Monday, reaching $19.53. 502,399 shares of the company's stock were exchanged, compared to its average volume of 1,023,320. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.32 and a current ratio of 0.74. WK Kellogg has a twelve month low of $15.17 and a twelve month high of $24.63. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 24.10, a PEG ratio of 2.01 and a beta of 0.30. The business's fifty day moving average price is $18.56 and its 200-day moving average price is $18.22.

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WK Kellogg (NYSE:KLG - Get Free Report) last announced its earnings results on Tuesday, February 11th. The company reported $0.42 earnings per share (EPS) for the quarter, topping 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%. On average, research analysts predict that WK Kellogg will post 1.57 EPS for the current fiscal year.

Hedge Funds Weigh In On WK Kellogg

A number of large investors have recently modified their holdings of the company. Halbert Hargrove Global Advisors LLC bought a new stake in WK Kellogg during the 4th quarter valued at $25,000. Ancora Advisors LLC increased its position in shares of WK Kellogg by 181.8% during the fourth quarter. Ancora Advisors LLC now owns 1,519 shares of the company's stock worth $27,000 after acquiring an additional 980 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of WK Kellogg during the fourth quarter worth about $36,000. Wealthfront Advisers LLC acquired a new stake in shares of WK Kellogg in the 4th quarter worth about $44,000. Finally, GAMMA Investing LLC lifted its position in WK Kellogg by 49.4% in the 4th quarter. GAMMA Investing LLC now owns 2,823 shares of the company's stock valued at $51,000 after acquiring an additional 933 shares in the last quarter. 95.74% of the stock is currently owned by 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.