WK Kellogg Co (NYSE:KLG) Given Average Rating of “Reduce” by Analysts

Shares of WK Kellogg Co (NYSE:KLG) have been assigned a consensus recommendation of “Reduce” from the ten analysts that are presently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a sell rating and six have issued a hold rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $17.40.

Several brokerages recently commented on KLG. Evercore ISI lifted their price objective on WK Kellogg from $21.00 to $23.00 and gave the stock an “in-line” rating in a report on Wednesday, May 8th. Barclays cut their price target on WK Kellogg from $19.00 to $16.00 and set an “underweight” rating for the company in a research note on Friday, July 19th. Stifel Nicolaus lowered their price objective on shares of WK Kellogg from $22.00 to $18.00 and set a “hold” rating on the stock in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. cut their target price on shares of WK Kellogg from $22.00 to $17.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Finally, BNP Paribas downgraded WK Kellogg from a “neutral” rating to an “underperform” rating and set a $20.00 target price on the stock. in a research report on Wednesday, May 8th.

WK Kellogg Stock Performance

Shares of NYSE KLG opened at $17.40 on Tuesday. The firm’s 50-day moving average price is $16.89 and its 200-day moving average price is $17.92. WK Kellogg has a 52-week low of $9.65 and a 52-week high of $24.63. The company has a market cap of $1.49 billion and a PE ratio of 10.74. The company has a quick ratio of 0.43, a current ratio of 0.84 and a debt-to-equity ratio of 1.53.

WK Kellogg (NYSE:KLG) last issued its earnings results on Tuesday, August 6th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.06). The company had revenue of $672.00 million for the quarter, compared to the consensus estimate of $671.50 million. The business’s revenue was down 4.0% on a year-over-year basis. As a group, analysts anticipate that WK Kellogg will post 1.53 EPS for the current year.

WK Kellogg Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Thursday, August 29th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.68%. The ex-dividend date of this dividend is Thursday, August 29th. WK Kellogg’s dividend payout ratio (DPR) is presently 39.51%.

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 stock. Eukles Asset Management purchased a new stake in shares of WK Kellogg in the fourth quarter valued at approximately $25,000. Benjamin F. Edwards & Company Inc. purchased a new stake in WK Kellogg during the fourth quarter worth $26,000. Brown Brothers Harriman & Co. bought a new stake in WK Kellogg during the 4th quarter valued at $27,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of WK Kellogg in the 4th quarter valued at $31,000. Finally, Kapitalo Investimentos Ltda bought a new position in shares of WK Kellogg in the 4th quarter worth $39,000. 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.