Analysts Set WK Kellogg Co (NYSE:KLG) Target Price at $17.88

Shares of WK Kellogg Co (NYSE:KLG - Get Free Report) have earned a consensus rating of "Reduce" from the eight brokerages that are presently covering the stock, MarketBeat reports. Four research analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $17.88.

Several research firms have issued reports on KLG. TD Cowen cut shares of WK Kellogg from a "hold" rating to a "sell" rating and decreased their price target for the stock from $18.00 to $16.00 in a research note on Wednesday, January 8th. Barclays decreased their price target 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. Jefferies Financial Group decreased their target price on shares of WK Kellogg from $19.00 to $16.00 and set a "hold" rating on the stock in a research report on Tuesday, January 28th. Finally, Stifel Nicolaus decreased their target price on shares of WK Kellogg from $19.00 to $18.00 and set a "hold" rating on the stock in a research report on Friday, January 24th.

WK Kellogg Price Performance

Shares of KLG traded down $0.41 during trading hours on Friday, reaching $18.98. The company had a trading volume of 1,037,869 shares, compared to its average volume of 1,158,429. The firm has a 50 day simple moving average of $17.62 and a 200-day simple moving average of $17.97. The company has a current ratio of 0.74, a quick ratio of 0.32 and a debt-to-equity ratio of 1.45. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 23.44, a PEG ratio of 2.01 and a beta of 0.70. WK Kellogg has a 12-month low of $14.37 and a 12-month 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 for the quarter, beating the consensus estimate 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 expect that WK Kellogg will post 1.57 earnings per share for the current year.

WK Kellogg Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 3.48%. This is a boost from WK Kellogg's previous quarterly dividend of $0.16. The ex-dividend date is Friday, February 28th. WK Kellogg's payout ratio is 81.48%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Alberta Investment Management Corp acquired a new position in WK Kellogg during the fourth quarter valued at approximately $2,022,000. Royce & Associates LP lifted its position in WK Kellogg by 199.8% during the third quarter. Royce & Associates LP now owns 71,987 shares of the company's stock valued at $1,232,000 after buying an additional 47,973 shares in the last quarter. Barclays PLC lifted its position in WK Kellogg by 406.6% during the third quarter. Barclays PLC now owns 128,710 shares of the company's stock valued at $2,202,000 after buying an additional 103,301 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in WK Kellogg by 7.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,112,558 shares of the company's stock valued at $19,036,000 after buying an additional 79,808 shares in the last quarter. Finally, CWA Asset Management Group LLC lifted its position in WK Kellogg by 191.9% during the fourth quarter. CWA Asset Management Group LLC now owns 49,010 shares of the company's stock valued at $882,000 after buying an additional 32,218 shares in the last quarter. 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.