WK Kellogg (NYSE:KLG) Trading 5% Higher – Time to Buy?

WK Kellogg Co (NYSE:KLG) shares traded up 5% during trading on Monday . The stock traded as high as $21.10 and last traded at $21.05. 143,168 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 1,104,995 shares. The stock had previously closed at $20.05.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Stifel Nicolaus dropped their price objective on WK Kellogg from $19.00 to $18.00 and set a “hold” rating on the stock in a report on Friday, January 24th. Jefferies Financial Group dropped their price objective on WK Kellogg from $19.00 to $16.00 and set a “hold” rating on the stock in a report on Tuesday, January 28th. Barclays dropped their price objective on WK Kellogg from $19.00 to $16.00 and set an “underweight” rating on the stock in a report on Friday, January 17th. Finally, TD Cowen lowered WK Kellogg from a “hold” rating to a “sell” rating and dropped their price objective for the company from $18.00 to $16.00 in a report on Wednesday, January 8th. Four equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $17.88.

WK Kellogg Stock Performance

The stock has a market cap of $1.83 billion, a PE ratio of 26.18, 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. The stock has a 50-day moving average of $17.85 and a 200 day moving average of $18.07.

WK Kellogg (NYSE:KLG) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.42 EPS for the quarter, topping 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%. Equities analysts predict that WK Kellogg Co will post 1.57 EPS for the current fiscal year.

WK Kellogg Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a $0.165 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.66 dividend on an annualized basis and a yield of 3.11%. This is an increase from WK Kellogg’s previous quarterly dividend of $0.16. WK Kellogg’s payout ratio is currently 81.48%.

Institutional Investors Weigh In On WK Kellogg

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Truist Financial Corp raised its position in WK Kellogg by 2.2% in the fourth quarter. Truist Financial Corp now owns 39,658 shares of the company’s stock valued at $713,000 after purchasing an additional 838 shares during the period. GAMMA Investing LLC raised its holdings in shares of WK Kellogg by 49.4% in the 4th quarter. GAMMA Investing LLC now owns 2,823 shares of the company’s stock valued at $51,000 after buying an additional 933 shares during the period. Ancora Advisors LLC raised its holdings in shares of 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 buying an additional 980 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of WK Kellogg by 3.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,338 shares of the company’s stock valued at $672,000 after buying an additional 1,339 shares during the period. Finally, Halbert Hargrove Global Advisors LLC purchased a new stake in shares of WK Kellogg in the 4th quarter valued at $25,000. Hedge funds and other 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.