Brokerages Set WK Kellogg Co (NYSE:KLG) PT at $19.71

Shares of WK Kellogg Co (NYSE:KLG) have been assigned a consensus recommendation of “Reduce” from the seven analysts that are covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $19.71.

Separately, Barclays increased their price objective on WK Kellogg from $16.00 to $19.00 and gave the company an “underweight” rating in a report on Monday, November 11th.

Insider Buying and Selling

In other WK Kellogg news, Director G Zachary Gund bought 65,000 shares of the stock in a transaction dated Thursday, November 14th. The shares were acquired at an average cost of $17.76 per share, for a total transaction of $1,154,400.00. Following the completion of the transaction, the director now owns 195,000 shares in the company, valued at approximately $3,463,200. The trade was a 50.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.90% of the stock is currently owned by company insiders.

Institutional Trading of WK Kellogg

A number of large investors have recently bought and sold shares of KLG. Captrust Financial Advisors boosted its stake in shares of WK Kellogg by 12,352.1% during the third quarter. Captrust Financial Advisors now owns 1,516,417 shares of the company’s stock worth $25,946,000 after buying an additional 1,504,239 shares during the period. Geode Capital Management LLC lifted its position in WK Kellogg by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,507,713 shares of the company’s stock worth $25,802,000 after acquiring an additional 38,939 shares during the period. AQR Capital Management LLC grew its stake in shares of WK Kellogg by 579.1% in the 2nd quarter. AQR Capital Management LLC now owns 1,403,854 shares of the company’s stock valued at $23,107,000 after purchasing an additional 1,197,133 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of WK Kellogg by 31.1% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,124,503 shares of the company’s stock valued at $19,240,000 after purchasing an additional 266,877 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of 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 worth $19,036,000 after purchasing an additional 79,808 shares during the last quarter. Institutional investors and hedge funds own 95.74% of the company’s stock.

WK Kellogg Stock Up 0.2 %

KLG stock opened at $17.92 on Monday. WK Kellogg has a fifty-two week low of $12.28 and a fifty-two week high of $24.63. The company’s 50 day moving average price is $18.61 and its 200 day moving average price is $17.72. 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 firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of 22.97 and a beta of 0.07.

WK Kellogg (NYSE:KLG) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.05. The business had revenue of $689.00 million for the quarter, compared to analyst estimates of $674.10 million. WK Kellogg had a net margin of 2.50% and a return on equity of 33.41%. The company’s revenue was down .4% on a year-over-year basis. During the same period last year, the business earned $0.49 EPS. On average, equities research analysts anticipate that WK Kellogg will post 1.49 EPS for the current fiscal year.

WK Kellogg Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a $0.16 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.57%. WK Kellogg’s dividend payout ratio (DPR) is presently 82.05%.

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.