WK Kellogg (NYSE:KLG) Price Target Lowered to $16.00 at Barclays

WK Kellogg (NYSE:KLG) had its price objective decreased by Barclays from $19.00 to $16.00 in a research note published on Friday, Benzinga reports. Barclays currently has an underweight rating on the stock.

KLG has been the subject of several other research reports. Stifel Nicolaus raised their price objective on WK Kellogg from $20.00 to $22.00 and gave the stock a hold rating in a research report on Wednesday, May 8th. Bank of America lowered shares of WK Kellogg from a neutral rating to an underperform rating and lowered their price target for the stock from $24.00 to $17.00 in a report on Wednesday, July 10th. BNP Paribas downgraded shares of WK Kellogg from a neutral rating to an underperform rating and set a $20.00 price target on the stock. in a research report on Wednesday, May 8th. TD Cowen increased their price objective on shares of WK Kellogg from $13.00 to $24.00 and gave the stock a hold rating in a research report on Wednesday, May 8th. Finally, Evercore ISI lifted their target price on shares of WK Kellogg from $21.00 to $23.00 and gave the stock an in-line rating in a research note on Wednesday, May 8th. Four equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, WK Kellogg has an average rating of Hold and a consensus target price of $17.20.

WK Kellogg Stock Down 3.7 %

Shares of NYSE KLG opened at $15.93 on Friday. The firm has a 50 day moving average price of $18.04 and a two-hundred day moving average price of $17.37. WK Kellogg has a 52-week low of $9.65 and a 52-week high of $24.63. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.43 and a current ratio of 0.84.

WK Kellogg (NYSE:KLG) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.37 earnings per share for the quarter, hitting the consensus estimate of $0.37. The business had revenue of $707.00 million during the quarter, compared to the consensus estimate of $697.83 million. WK Kellogg’s revenue for the quarter was down .7% compared to the same quarter last year. Analysts forecast that WK Kellogg will post 1.54 earnings per share for the current year.

WK Kellogg Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date of this dividend was Friday, May 31st.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Eukles Asset Management acquired a new position in shares of WK Kellogg during the fourth quarter worth approximately $25,000. Benjamin F. Edwards & Company Inc. acquired a new position in WK Kellogg during the fourth quarter worth $26,000. Toth Financial Advisory Corp acquired a new position in WK Kellogg during the fourth quarter worth $26,000. Canal Insurance CO bought a new position in shares of WK Kellogg in the fourth quarter valued at $26,000. Finally, Brown Brothers Harriman & Co. acquired a new position in shares of WK Kellogg during the fourth quarter valued at about $27,000. 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.