Shares of WK Kellogg Co (NYSE:KLG - Get Free Report) were down 5.7% during mid-day trading on Wednesday . The company traded as low as $20.26 and last traded at $20.08. Approximately 282,938 shares changed hands during trading, a decline of 75% from the average daily volume of 1,153,280 shares. The stock had previously closed at $21.29.
Wall Street Analyst Weigh In
KLG has been the topic of several research analyst reports. TD Cowen cut shares of WK Kellogg from a "hold" rating to a "sell" rating and decreased their price target for the company from $18.00 to $16.00 in a research note on Wednesday, January 8th. Stifel Nicolaus decreased their price objective on WK Kellogg from $19.00 to $18.00 and set a "hold" rating on the stock in a research report on Friday, January 24th. Jefferies Financial Group lowered 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 report on Tuesday, January 28th. Finally, Barclays reduced their price objective 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. Four research analysts have rated the stock with a sell rating and four have issued a hold rating to the company's stock. According to data from MarketBeat, WK Kellogg currently has a consensus rating of "Hold" and a consensus target price of $17.88.
Get Our Latest Stock Report on WK Kellogg
WK Kellogg Stock Performance
The company has a quick ratio of 0.32, a current ratio of 0.74 and a debt-to-equity ratio of 1.45. The stock's fifty day moving average is $17.93 and its 200-day moving average is $18.09. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of 25.01, a PEG ratio of 2.01 and a beta of 0.30.
WK Kellogg (NYSE:KLG - Get Free Report) last posted its earnings results on Tuesday, February 11th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.14. WK Kellogg had a return on equity of 39.81% and a net margin of 2.66%. On average, analysts forecast that WK Kellogg Co will post 1.57 EPS for the current year.
WK Kellogg Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a dividend of $0.165 per share. This is an increase from WK Kellogg's previous quarterly dividend of $0.16. This represents a $0.66 annualized dividend and a yield of 3.26%. The ex-dividend date is Friday, February 28th. WK Kellogg's dividend payout ratio (DPR) is 81.48%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in KLG. Halbert Hargrove Global Advisors LLC acquired a new position in WK Kellogg in the 4th quarter worth $25,000. Ancora Advisors LLC lifted its holdings in shares of WK Kellogg by 181.8% in the fourth quarter. Ancora Advisors LLC now owns 1,519 shares of the company's stock valued at $27,000 after purchasing an additional 980 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of WK Kellogg in the fourth quarter valued at about $36,000. Wealthfront Advisers LLC acquired a new position in shares of WK Kellogg during the fourth quarter worth about $44,000. Finally, GAMMA Investing LLC grew its holdings in shares of WK Kellogg by 49.4% during the fourth quarter. GAMMA Investing LLC now owns 2,823 shares of the company's stock worth $51,000 after buying an additional 933 shares in the last quarter. Institutional investors and hedge funds own 95.74% of the company's stock.
About WK Kellogg
(
Get Free Report)
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.
Featured Articles
Before you consider WK Kellogg, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and WK Kellogg wasn't on the list.
While WK Kellogg currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
