WK Kellogg Co (NYSE:KLG) Receives $18.50 Consensus PT from Analysts

WK Kellogg Co (NYSE:KLG - Get Free Report) has received a consensus rating of "Reduce" from the eight ratings firms that are presently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $18.50.

KLG has been the topic of several research reports. Bank of America downgraded WK Kellogg from a "neutral" rating to an "underperform" rating and reduced their price objective for the stock from $24.00 to $17.00 in a report on Wednesday, July 10th. Barclays cut their price target on WK Kellogg from $19.00 to $16.00 and set an "underweight" rating on the stock in a research note on Friday, July 19th. Stifel Nicolaus lowered their price target on shares of WK Kellogg from $22.00 to $18.00 and set a "hold" rating for the company in a research report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. cut their price objective on shares of WK Kellogg from $22.00 to $17.00 and set a "neutral" rating on the stock in a report on Wednesday, August 7th.

WK Kellogg Price Performance

Shares of NYSE:KLG traded down $0.28 during midday trading on Friday, reaching $17.05. The company's stock had a trading volume of 527,362 shares, compared to its average volume of 626,319. The business's fifty day simple moving average is $17.57 and its 200-day simple moving average is $18.45. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.83 and a quick ratio of 0.36. WK Kellogg has a fifty-two week low of $9.82 and a fifty-two week high of $24.63. The company has a market capitalization of $1.46 billion and a P/E ratio of 12.18.

WK Kellogg (NYSE:KLG - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.06). WK Kellogg had a net margin of 4.45% and a return on equity of 42.12%. The company had revenue of $672.00 million during the quarter, compared to analyst estimates of $671.50 million. The business's revenue was down 4.0% on a year-over-year basis. As a group, equities research analysts expect that WK Kellogg will post 1.5 EPS for the current fiscal year.

WK Kellogg Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 29th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.75%. WK Kellogg's dividend payout ratio is 45.71%.

Institutional Trading of WK Kellogg

A number of large investors have recently made changes to their positions in KLG. PNC Financial Services Group Inc. bought a new position in WK Kellogg in the fourth quarter valued at approximately $160,000. Alpha Omega Wealth Management LLC boosted its stake in WK Kellogg by 15.2% in the 1st quarter. Alpha Omega Wealth Management LLC now owns 13,080 shares of the company's stock worth $246,000 after purchasing an additional 1,725 shares during the period. Westhampton Capital LLC boosted its stake in WK Kellogg by 2.5% in the 1st quarter. Westhampton Capital LLC now owns 83,494 shares of the company's stock worth $1,570,000 after purchasing an additional 2,000 shares during the period. North Star Investment Management Corp. increased its holdings in WK Kellogg by 98.0% during the 1st quarter. North Star Investment Management Corp. now owns 70,760 shares of the company's stock worth $1,330,000 after purchasing an additional 35,015 shares in the last quarter. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of WK Kellogg in the 1st quarter valued at about $241,000. Institutional investors own 95.74% of the company's stock.

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.