WK Kellogg Co (NYSE:KLG) Given Average Rating of "Reduce" by Brokerages

WK Kellogg Co (NYSE:KLG - Get Free Report) has received an average rating of "Reduce" from the ten ratings firms that are covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $17.20.

Several analysts recently commented on the stock. Evercore ISI increased their target price on shares of WK Kellogg from $21.00 to $23.00 and gave the company an "in-line" rating in a research note on Wednesday, May 8th. Bank of America lowered shares of WK Kellogg from a "neutral" rating to an "underperform" rating and cut their target price for the company from $24.00 to $17.00 in a research note on Wednesday, July 10th. Barclays cut 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. TD Cowen increased their target price on shares of WK Kellogg from $13.00 to $24.00 and gave the company a "hold" rating in a research note on Wednesday, May 8th. Finally, Stifel Nicolaus increased their target price on shares of WK Kellogg from $20.00 to $22.00 and gave the company a "hold" rating in a research note on Wednesday, May 8th.

Institutional Investors Weigh In On WK Kellogg

A number of large investors have recently made changes to their positions in the company. Eukles Asset Management acquired a new position in WK Kellogg in the 4th quarter valued at approximately $25,000. Benjamin F. Edwards & Company Inc. bought a new stake in WK Kellogg in the 4th quarter valued at $26,000. Toth Financial Advisory Corp bought a new stake in WK Kellogg in the 4th quarter valued at $26,000. Canal Insurance CO bought a new stake in WK Kellogg in the 4th quarter valued at $26,000. Finally, Brown Brothers Harriman & Co. acquired a new position in shares of WK Kellogg in the 4th quarter valued at $27,000. Institutional investors and hedge funds own 95.74% of the company's stock.

WK Kellogg Price Performance

WK Kellogg stock traded down $0.62 during midday trading on Friday, reaching $15.93. 1,092,914 shares of the stock traded hands, compared to its average volume of 1,130,791. The company has a current ratio of 0.84, a quick ratio of 0.43 and a debt-to-equity ratio of 1.53. The firm has a fifty day moving average price of $18.16 and a two-hundred day moving average price of $17.30. WK Kellogg has a fifty-two week low of $9.65 and a fifty-two week high of $24.63.

WK Kellogg (NYSE:KLG - Get Free Report) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.37 earnings per share for the quarter, hitting analysts' consensus estimates of $0.37. The company had revenue of $707.00 million during the quarter, compared to analyst estimates of $697.83 million. The firm's quarterly revenue was down .7% on a year-over-year basis. As a group, research analysts expect that WK Kellogg will post 1.54 earnings per share for the current year.

WK Kellogg Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.02%.

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.