WK Kellogg (NYSE:KLG) Trading 10.1% Higher - What's Next?

WK Kellogg Co (NYSE:KLG - Get Free Report)'s share price traded up 10.1% during trading on Friday . The company traded as high as $19.09 and last traded at $19.95. 579,341 shares changed hands during mid-day trading, a decline of 48% from the average session volume of 1,104,002 shares. The stock had previously closed at $18.11.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Jefferies Financial Group decreased their price target on shares of WK Kellogg from $19.00 to $16.00 and set a "hold" rating for the company in a research note on Tuesday, January 28th. Stifel Nicolaus lowered their price target on WK Kellogg from $19.00 to $18.00 and set a "hold" rating on the stock in a report on Friday, January 24th. TD Cowen downgraded WK Kellogg from a "hold" rating to a "sell" rating and reduced their price objective for the company from $18.00 to $16.00 in a research note on Wednesday, January 8th. Finally, 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 note on Friday, January 17th. Four analysts have rated the stock with a sell rating and four have given a hold rating to the company's stock. According to data from MarketBeat.com, WK Kellogg currently has a consensus rating of "Hold" and an average price target of $17.88.

WK Kellogg Trading Down 3.1 %

The company has a market cap of $1.65 billion, a price-to-earnings ratio of 24.44 and a beta of 0.70. The business has a fifty day simple moving average of $17.57 and a 200 day simple moving average of $17.72. The company has a quick ratio of 0.34, a current ratio of 0.78 and a debt-to-equity ratio of 1.49.

WK Kellogg (NYSE:KLG - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.28 by $0.14. WK Kellogg had a net margin of 2.50% and a return on equity of 33.41%. On average, equities analysts anticipate that WK Kellogg Co will post 1.48 EPS for the current fiscal year.

WK Kellogg Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a $0.165 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.45%. This is a boost from WK Kellogg's previous quarterly dividend of $0.16. WK Kellogg's dividend payout ratio is currently 82.05%.

Hedge Funds Weigh In On WK Kellogg

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Halbert Hargrove Global Advisors LLC purchased a new position in shares of WK Kellogg in the fourth quarter valued at $25,000. Ancora Advisors LLC grew its stake in WK Kellogg by 181.8% in the 4th quarter. Ancora Advisors LLC now owns 1,519 shares of the company's stock valued at $27,000 after acquiring an additional 980 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in WK Kellogg during the 4th quarter valued at about $36,000. Wealthfront Advisers LLC acquired a new position in WK Kellogg during the fourth quarter worth about $44,000. Finally, GAMMA Investing LLC lifted its holdings in shares of WK Kellogg by 49.4% in the fourth quarter. GAMMA Investing LLC now owns 2,823 shares of the company's stock valued at $51,000 after purchasing an additional 933 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.