WK Kellogg (NYSE:KLG) Trading 3% Higher - Time to Buy?

WK Kellogg Co (NYSE:KLG - Get Free Report) shares were up 3% during trading on Wednesday . The company traded as high as $19.05 and last traded at $19.11. Approximately 223,280 shares traded hands during trading, a decline of 78% from the average daily volume of 999,378 shares. The stock had previously closed at $18.56.

Wall Street Analyst Weigh In

KLG has been the subject of several research analyst reports. Jefferies Financial Group reduced their price objective on shares of WK Kellogg from $19.00 to $16.00 and set a "hold" rating for the company in a report on Tuesday, January 28th. Stifel Nicolaus reduced their price target 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. Morgan Stanley initiated coverage on shares of WK Kellogg in a research note on Monday, March 24th. They set an "underweight" rating and a $18.00 price objective on the stock. Barclays cut their target price on WK Kellogg from $19.00 to $16.00 and set an "underweight" rating for the company in a research report on Friday, January 17th. Finally, TD Cowen cut WK Kellogg from a "hold" rating to a "sell" rating and lowered their price target for the company from $18.00 to $16.00 in a research report on Wednesday, January 8th. Five equities research 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, the company has a consensus rating of "Reduce" and an average target price of $17.89.

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WK Kellogg Trading Down 0.5 %

The company has a 50-day moving average price of $18.56 and a 200-day moving average price of $18.22. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of 24.10, a P/E/G 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 earnings results on Tuesday, February 11th. The company reported $0.42 earnings per share 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 predict that WK Kellogg Co will post 1.57 EPS for the current fiscal year.

WK Kellogg Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a $0.165 dividend. 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. The ex-dividend date of this dividend was Friday, February 28th. WK Kellogg's dividend payout ratio (DPR) is presently 81.48%.

Hedge Funds Weigh In On WK Kellogg

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KLG. Charles Schwab Investment Management Inc. lifted its holdings in shares of WK Kellogg by 11.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,240,046 shares of the company's stock valued at $22,308,000 after purchasing an additional 127,488 shares in the last quarter. Victory Capital Management Inc. grew its holdings in WK Kellogg by 1,217.5% during the fourth quarter. Victory Capital Management Inc. now owns 233,997 shares of the company's stock worth $4,210,000 after purchasing an additional 216,236 shares during the period. Royce & Associates LP increased its holdings 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 acquiring an additional 33,147 shares during the last quarter. Alberta Investment Management Corp bought a new position in shares of WK Kellogg in the fourth quarter valued at about $2,022,000. Finally, Barclays PLC boosted its holdings in shares of WK Kellogg by 406.6% during the third quarter. Barclays PLC now owns 128,710 shares of the company's stock worth $2,202,000 after acquiring an additional 103,301 shares during the period. Institutional investors own 95.74% of the company's stock.

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.