WK Kellogg (NYSE:KLG) Trading 4.4% Higher

WK Kellogg Co (NYSE:KLG - Get Free Report) shot up 4.4% during mid-day trading on Thursday . The company traded as high as $17.61 and last traded at $17.57. 104,097 shares were traded during mid-day trading, a decline of 91% from the average session volume of 1,096,631 shares. The stock had previously closed at $16.83.

Analyst Upgrades and Downgrades

KLG has been the subject of several recent research reports. JPMorgan Chase & Co. reduced their price target on shares of WK Kellogg from $22.00 to $17.00 and set a "neutral" rating for the company in a report on Wednesday, August 7th. Stifel Nicolaus cut their target price on WK Kellogg from $22.00 to $18.00 and set a "hold" rating on the stock in a research note on Tuesday, July 23rd. Bank of America lowered shares of WK Kellogg from a "neutral" rating to an "underperform" rating and decreased their price target for the company from $24.00 to $17.00 in a research report on Wednesday, July 10th. 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 report on Friday, July 19th. Finally, 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 report on Wednesday, May 8th. Four investment analysts have rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat, WK Kellogg has an average rating of "Hold" and a consensus price target of $17.40.

WK Kellogg Stock Up 10.0 %

The stock has a market capitalization of $1.59 billion and a PE ratio of 12.06. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.83 and a quick ratio of 0.36. The business's fifty day moving average price is $16.84 and its two-hundred day moving average price is $18.23.

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

WK Kellogg Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, August 29th will be paid a $0.16 dividend. The ex-dividend date is Thursday, August 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.46%.

Institutional Investors Weigh In On WK Kellogg

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KLG. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of WK Kellogg during the 4th quarter worth approximately $26,000. Brown Brothers Harriman & Co. acquired a new position in shares of WK Kellogg in the fourth quarter worth about $27,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of WK Kellogg during the 4th quarter worth about $31,000. Kapitalo Investimentos Ltda acquired a new stake in shares of WK Kellogg during the 4th quarter valued at about $39,000. Finally, Gladius Capital Management LP purchased a new position in shares of WK Kellogg in the 4th quarter valued at about $41,000. 95.74% of the stock is owned by institutional investors and hedge funds.

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.