WK Kellogg Co (NYSE:KLG) Given Average Recommendation of "Strong Sell" by Brokerages

Shares of WK Kellogg Co (NYSE:KLG - Get Free Report) have received an average rating of "Strong Sell" from the nine analysts that are presently covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $17.89.

Several analysts recently issued reports on the company. Jefferies Financial Group lowered their price target on WK Kellogg from $19.00 to $16.00 and set a "hold" rating for the company in a report on Tuesday, January 28th. Barclays dropped 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 note on Friday, January 17th. Stifel Nicolaus decreased their target price on shares of WK Kellogg from $19.00 to $18.00 and set a "hold" rating for the company in a research note on Friday, January 24th. TD Cowen downgraded shares of WK Kellogg from a "hold" rating to a "sell" rating and dropped their price target for the stock from $18.00 to $16.00 in a research note on Wednesday, January 8th. Finally, Morgan Stanley assumed coverage on WK Kellogg in a research note on Monday, March 24th. They set an "underweight" rating and a $18.00 target price for the company.

WK Kellogg Trading Down 3.5 %

KLG stock traded down $0.69 during trading on Friday, reaching $18.84. 781,895 shares of the stock traded hands, compared to its average volume of 1,003,231. The firm has a market capitalization of $1.62 billion, a PE ratio of 23.26, a P/E/G ratio of 2.01 and a beta of 0.39. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.74 and a quick ratio of 0.32. The business's 50 day moving average price is $19.44 and its 200-day moving average price is $18.40. WK Kellogg has a 52-week low of $15.17 and a 52-week high of $24.63.

WK Kellogg (NYSE:KLG - Get Free Report) last posted its earnings results on Tuesday, February 11th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.28 by $0.14. WK Kellogg had a net margin of 2.66% and a return on equity of 39.81%. As a group, sell-side analysts forecast that WK Kellogg will post 1.57 earnings per share for the current year.

WK Kellogg Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a dividend of $0.165 per share. This is a positive change from WK Kellogg's previous quarterly dividend of $0.16. This represents a $0.66 annualized dividend and a dividend yield of 3.50%. The ex-dividend date was Friday, February 28th. WK Kellogg's dividend payout ratio is currently 81.48%.

Institutional Trading of WK Kellogg

Institutional investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its holdings in shares of WK Kellogg by 11.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,240,046 shares of the company's stock valued at $22,308,000 after buying an additional 127,488 shares during the period. Victory Capital Management Inc. grew its holdings in shares of WK Kellogg by 1,217.5% during the fourth quarter. Victory Capital Management Inc. now owns 233,997 shares of the company's stock valued at $4,210,000 after purchasing an additional 216,236 shares during the last quarter. Royce & Associates LP raised its position in shares of WK Kellogg by 46.0% during the 4th quarter. Royce & Associates LP now owns 105,134 shares of the company's stock worth $1,891,000 after purchasing an additional 33,147 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of WK Kellogg in the 4th quarter worth approximately $273,000. Finally, Alberta Investment Management Corp acquired a new position in WK Kellogg during the 4th quarter valued at approximately $2,022,000. 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.