WK Kellogg (NYSE:KLG) Stock Price Down 3%

WK Kellogg Co (NYSE:KLG - Get Free Report)'s stock price was down 3% during mid-day trading on Thursday . The stock traded as low as $16.93 and last traded at $16.93. Approximately 48,035 shares traded hands during mid-day trading, a decline of 96% from the average daily volume of 1,101,686 shares. The stock had previously closed at $17.45.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Barclays lowered their target price on WK Kellogg from $19.00 to $16.00 and set an "underweight" rating on the stock in a research report on Friday, July 19th. Evercore ISI upped their price objective on shares of WK Kellogg from $21.00 to $23.00 and gave the stock an "in-line" rating in a report on Wednesday, May 8th. Bank of America cut shares of WK Kellogg from a "neutral" rating to an "underperform" rating and reduced their price objective for the company from $24.00 to $17.00 in a report on Wednesday, July 10th. JPMorgan Chase & Co. lowered their target price 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. Finally, Stifel Nicolaus cut their price target on WK Kellogg from $22.00 to $18.00 and set a "hold" rating for the company in a research note on Tuesday, July 23rd. Four equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $17.40.

WK Kellogg Price Performance

The company has a quick ratio of 0.43, a current ratio of 0.84 and a debt-to-equity ratio of 1.53. The firm's 50-day moving average is $16.83 and its 200-day moving average is $18.12. The company has a market cap of $1.45 billion and a PE ratio of 10.42.

WK Kellogg (NYSE:KLG - Get Free Report) last announced its earnings results on Tuesday, August 6th. The company reported $0.36 EPS for the quarter, missing analysts' consensus estimates of $0.42 by ($0.06). The firm had revenue of $672.00 million for the quarter, compared to analysts' expectations of $671.50 million. The company's revenue was down 4.0% on a year-over-year basis. On average, equities analysts anticipate that WK Kellogg Co will post 1.53 EPS for the current year.

WK Kellogg Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Thursday, August 29th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.79%. The ex-dividend date is Thursday, August 29th. WK Kellogg's dividend payout ratio (DPR) is currently 39.51%.

Institutional Trading of WK Kellogg

Institutional investors have recently made changes to their positions in the stock. Benjamin F. Edwards & Company Inc. bought a new position in WK Kellogg in the 4th quarter worth $26,000. Brown Brothers Harriman & Co. purchased a new position in shares of WK Kellogg during the 4th quarter valued at about $27,000. EntryPoint Capital LLC purchased a new position in shares of WK Kellogg during the 1st quarter valued at about $42,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of WK Kellogg during the 4th quarter valued at about $31,000. Finally, Rothschild Investment LLC bought a new position in shares of WK Kellogg during the 2nd quarter valued at approximately $46,000. Hedge funds and other institutional investors own 95.74% of the company's stock.

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.