WK Kellogg Co (NYSE:KLG) Receives $17.40 Consensus Price Target from Analysts

Shares of WK Kellogg Co (NYSE:KLG) have been assigned a consensus rating of “Reduce” from the ten ratings firms that are currently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $17.40.

Several analysts have issued reports on the stock. Stifel Nicolaus reduced their price target on shares of WK Kellogg from $22.00 to $18.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. JPMorgan Chase & Co. reduced their target price on WK Kellogg from $22.00 to $17.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Bank of America cut shares of WK Kellogg from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $24.00 to $17.00 in a research report on Wednesday, July 10th. Finally, Barclays cut their price objective on WK Kellogg from $19.00 to $16.00 and set an “underweight” rating on the stock in a research report on Friday, July 19th.

Institutional Trading of WK Kellogg

Several institutional investors have recently added to or reduced their stakes in KLG. Kellogg W K Foundation Trust acquired a new stake in shares of WK Kellogg during the 4th quarter worth approximately $177,458,000. AQR Capital Management LLC increased its stake in shares of WK Kellogg by 579.1% in the second 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 period. Massachusetts Financial Services Co. MA acquired a new position in shares of WK Kellogg during the fourth quarter worth approximately $18,412,000. Beutel Goodman & Co Ltd. acquired a new position in shares of WK Kellogg during the fourth quarter worth approximately $13,730,000. Finally, Bank of New York Mellon Corp raised its stake in WK Kellogg by 9.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 904,699 shares of the company’s stock valued at $14,891,000 after acquiring an additional 77,262 shares in the last quarter. Institutional investors own 95.74% of the company’s stock.

WK Kellogg Stock Performance

NYSE:KLG opened at $18.35 on Friday. The firm has a market cap of $1.58 billion and a price-to-earnings ratio of 12.89. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.83 and a quick ratio of 0.36. WK Kellogg has a 1-year low of $9.65 and a 1-year high of $24.63. The firm’s fifty day moving average price is $16.99 and its 200 day moving average price is $18.35.

WK Kellogg (NYSE:KLG) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.06). The company had revenue of $672.00 million for the quarter, compared to analysts’ expectations of $671.50 million. WK Kellogg had a return on equity of 42.12% and a net margin of 4.45%. WK Kellogg’s quarterly revenue was down 4.0% compared to the same quarter last year. On average, sell-side analysts expect that WK Kellogg will post 1.5 EPS for the current year.

WK Kellogg Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Thursday, August 29th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.49%. The ex-dividend date of this dividend is Thursday, August 29th.

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.