WK Kellogg Co (NYSE:KLG) Given Consensus Rating of "Strong Sell" by Analysts

WK Kellogg Co (NYSE:KLG - Get Free Report) has received an average recommendation of "Strong Sell" from the nine research firms that are covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $17.89.

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

Institutional Trading of WK Kellogg

Several large investors have recently modified their holdings of the business. Keybank National Association OH grew its stake in WK Kellogg by 1.1% during the 4th quarter. Keybank National Association OH now owns 4,925,470 shares of the company's stock valued at $88,609,000 after purchasing an additional 52,129 shares in the last quarter. Capital International Investors boosted its stake in shares of WK Kellogg by 149.8% during the 4th quarter. Capital International Investors now owns 4,186,763 shares of the company's stock valued at $75,320,000 after buying an additional 2,510,779 shares during the last quarter. Jupiter Asset Management Ltd. grew its position in shares of WK Kellogg by 172.9% during the fourth quarter. Jupiter Asset Management Ltd. now owns 2,494,881 shares of the company's stock worth $44,883,000 after buying an additional 1,580,704 shares in the last quarter. D. E. Shaw & Co. Inc. increased its stake in shares of WK Kellogg by 0.9% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,827,524 shares of the company's stock worth $32,877,000 after buying an additional 17,088 shares during the last quarter. Finally, Captrust Financial Advisors raised its holdings in WK Kellogg by 12.5% in the fourth quarter. Captrust Financial Advisors now owns 1,705,509 shares of the company's stock valued at $30,682,000 after acquiring an additional 189,092 shares in the last quarter. 95.74% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

WK Kellogg Trading Down 0.5 %

Shares of NYSE:KLG traded down $0.11 during midday trading on Wednesday, reaching $19.53. The company's stock had a trading volume of 502,399 shares, compared to its average volume of 1,023,320. The business has a 50 day moving average price of $18.56 and a 200 day moving average price of $18.22. WK Kellogg has a 1 year low of $15.17 and a 1 year high of $24.63. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of 24.10, a price-to-earnings-growth ratio of 2.01 and a beta of 0.30. The company has a quick ratio of 0.32, a current ratio of 0.74 and a debt-to-equity ratio of 1.45.

WK Kellogg (NYSE:KLG - Get Free Report) last posted its quarterly earnings data on Tuesday, February 11th. The company reported $0.42 EPS for the quarter, beating 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%. Research analysts forecast that WK Kellogg will post 1.57 EPS for the current year.

WK Kellogg Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.165 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.66 dividend on an annualized basis and a yield of 3.38%. This is a positive change from WK Kellogg's previous quarterly dividend of $0.16. WK Kellogg's payout ratio is currently 81.48%.

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.