WK Kellogg (NYSE:KLG) Trading Up 8%

WK Kellogg Co (NYSE:KLG) shares traded up 8% on Tuesday . The company traded as high as $23.79 and last traded at $23.78. 957,936 shares changed hands during mid-day trading, a decline of 15% from the average session volume of 1,128,765 shares. The stock had previously closed at $22.01.

Analysts Set New Price Targets

Several research firms have recently weighed in on KLG. Stifel Nicolaus upped their price objective on WK Kellogg from $11.00 to $13.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. Barclays upped their price target on WK Kellogg from $12.00 to $15.00 and gave the stock an “underweight” rating in a research report on Friday, April 12th. Two equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. Based on data from MarketBeat, WK Kellogg has a consensus rating of “Hold” and an average price target of $12.75.

WK Kellogg Trading Up 0.9 %

The business’s 50-day simple moving average is $18.00 and its two-hundred day simple moving average is $14.08. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.84 and a quick ratio of 0.43.

WK Kellogg (NYSE:KLG) last released its quarterly earnings data on Tuesday, February 13th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.03). The firm had revenue of $651.00 million during the quarter, compared to the consensus estimate of $645.87 million. WK Kellogg’s quarterly revenue was down 2.7% on a year-over-year basis. Equities analysts anticipate that WK Kellogg Co will post 1.51 EPS for the current fiscal year.

WK Kellogg Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date was Thursday, February 29th.

Institutional Investors Weigh In On WK Kellogg

Several large investors have recently modified their holdings of KLG. Eukles Asset Management bought a new stake in WK Kellogg in the fourth quarter worth approximately $25,000. Benjamin F. Edwards & Company Inc. acquired a new position in shares of WK Kellogg during the 4th quarter valued at $26,000. Toth Financial Advisory Corp bought a new position in WK Kellogg during the fourth quarter worth $26,000. Canal Insurance CO acquired a new stake in WK Kellogg in the fourth quarter worth $26,000. Finally, Brown Brothers Harriman & Co. bought a new stake in WK Kellogg in the fourth quarter valued at $27,000. 95.74% of the stock is currently owned by institutional investors and hedge funds.

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.