WK Kellogg Co (NYSE:KLG) Receives $16.86 Average Price Target from Analysts

Shares of WK Kellogg Co (NYSE:KLG) have earned a consensus recommendation of “Strong Sell” from the seven brokerages that are presently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $16.86.

Separately, Morgan Stanley started coverage on shares of WK Kellogg in a report on Monday, March 24th. They issued an “underweight” rating and a $18.00 price objective on the stock.

WK Kellogg Trading Down 0.8%

KLG opened at $15.56 on Monday. WK Kellogg has a 12 month low of $14.80 and a 12 month high of $22.21. The stock has a fifty day moving average price of $17.59 and a 200-day moving average price of $18.29. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of 19.21, a PEG ratio of 2.01 and a beta of 0.35. The company has a current ratio of 0.74, a quick ratio of 0.32 and a debt-to-equity ratio of 1.45.

WK Kellogg (NYSE:KLG) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.21). WK Kellogg had a net margin of 2.66% and a return on equity of 39.81%. The business had revenue of $667.00 million for the quarter, compared to analysts’ expectations of $677.91 million. During the same quarter in the prior year, the company posted $0.37 EPS. The business’s revenue for the quarter was down 6.2% on a year-over-year basis. As a group, equities research analysts anticipate that WK Kellogg will post 1.57 earnings per share for the current fiscal year.

WK Kellogg Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were given a $0.165 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.66 annualized dividend and a yield of 4.24%. WK Kellogg’s dividend payout ratio is presently 103.13%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in KLG. Halbert Hargrove Global Advisors LLC acquired a new position in shares of WK Kellogg during the 4th quarter worth about $25,000. Ancora Advisors LLC raised its holdings in WK Kellogg by 181.8% during the fourth quarter. Ancora Advisors LLC now owns 1,519 shares of the company’s stock worth $27,000 after purchasing an additional 980 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of WK Kellogg during the 4th quarter worth approximately $36,000. Wealthfront Advisers LLC acquired a new position in WK Kellogg in the fourth quarter valued at $44,000. Finally, Spire Wealth Management purchased a new position in shares of WK Kellogg during the fourth quarter worth about $56,000. Hedge funds and other institutional investors own 95.74% of the company’s stock.

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.