WK Kellogg Co (NYSE:KLG) Given Average Recommendation of "Reduce" by Analysts

Shares of WK Kellogg Co (NYSE:KLG - Get Free Report) have received an average recommendation of "Reduce" from the eight ratings firms that are covering the firm, MarketBeat reports. Three research analysts have rated the stock with a sell rating and five have given a hold rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $18.88.

KLG has been the subject of several recent analyst reports. Barclays upped their target price on WK Kellogg from $16.00 to $19.00 and gave the stock an "underweight" rating in a research note on Monday, November 11th. JPMorgan Chase & Co. reduced their price objective on WK Kellogg from $22.00 to $17.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 7th.

WK Kellogg Stock Down 0.7 %

Shares of NYSE KLG opened at $17.08 on Thursday. WK Kellogg has a 52 week low of $10.99 and a 52 week high of $24.63. The stock's fifty day moving average is $17.48 and its 200 day moving average is $17.79. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.34 and a current ratio of 0.78. The stock has a market capitalization of $1.47 billion and a P/E ratio of 21.90.

WK Kellogg (NYSE:KLG - Get Free Report) last released its earnings results on Thursday, November 7th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.26 by $0.05. WK Kellogg had a net margin of 2.50% and a return on equity of 33.41%. The firm had revenue of $689.00 million for the quarter, compared to analyst estimates of $674.10 million. During the same period last year, the firm earned $0.49 EPS. The business's quarterly revenue was down .4% compared to the same quarter last year. Sell-side analysts forecast that WK Kellogg will post 1.49 earnings per share for the current fiscal year.

WK Kellogg Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 3.75%. The ex-dividend date is Friday, November 29th. WK Kellogg's dividend payout ratio is currently 82.05%.

Insider Buying and Selling

In other news, Director G Zachary Gund purchased 65,000 shares of the company's stock in a transaction dated Thursday, November 14th. The shares were purchased at an average price of $17.76 per share, for a total transaction of $1,154,400.00. Following the transaction, the director now owns 195,000 shares of the company's stock, valued at approximately $3,463,200. This trade represents a 50.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On WK Kellogg

A number of institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC raised its stake in WK Kellogg by 88.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,890 shares of the company's stock worth $32,000 after buying an additional 888 shares during the period. EntryPoint Capital LLC acquired a new position in shares of WK Kellogg during the first quarter worth approximately $42,000. Rothschild Investment LLC bought a new position in shares of WK Kellogg in the 2nd quarter worth $46,000. Abich Financial Wealth Management LLC grew its position in WK Kellogg by 3,575.4% in the 3rd quarter. Abich Financial Wealth Management LLC now owns 4,484 shares of the company's stock valued at $77,000 after purchasing an additional 4,362 shares during the period. Finally, International Assets Investment Management LLC grew its position in WK Kellogg by 1,724.1% in the 3rd quarter. International Assets Investment Management LLC now owns 4,688 shares of the company's stock valued at $80,000 after purchasing an additional 4,431 shares during the period. 95.74% of the stock is currently owned by institutional investors.

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.