WK Kellogg (NYSE:KLG) Hits New 52-Week High at $21.13

Shares of WK Kellogg Co (NYSE:KLG - Get Free Report) hit a new 52-week high during trading on Wednesday . The company traded as high as $21.13 and last traded at $20.95, with a volume of 62434 shares. The stock had previously closed at $20.81.

Wall Street Analyst Weigh In

KLG has been the topic of a number of research analyst reports. Barclays boosted their price objective on shares of WK Kellogg from $11.00 to $12.00 and gave the company an "underweight" rating in a research report on Thursday, February 15th. Morgan Stanley began coverage on shares of WK Kellogg in a research report on Thursday, December 14th. They set an "equal weight" rating and a $13.00 price objective on the stock. Finally, Stifel Nicolaus increased their price objective on WK Kellogg from $11.00 to $13.00 and gave the company a "hold" rating in a research note on Thursday, January 25th. Two analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to data from MarketBeat, WK Kellogg has a consensus rating of "Hold" and an average target price of $12.45.

WK Kellogg Stock Performance

The business has a 50-day moving average of $15.87. The company has a quick ratio of 0.43, a current ratio of 0.84 and a debt-to-equity ratio of 1.62.

WK Kellogg (NYSE:KLG - Get Free Report) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.03). The company had revenue of $651.00 million during the quarter, compared to analysts' expectations of $645.87 million. WK Kellogg's quarterly revenue was down 2.7% compared to the same quarter last year. Equities analysts predict that WK Kellogg Co will post 1.51 earnings per share for the current fiscal year.

WK Kellogg Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date was Thursday, February 29th.

Institutional Investors Weigh In On WK Kellogg

A number of large investors have recently added to or reduced their stakes in the business. Kellogg W K Foundation Trust purchased a new position in WK Kellogg during the fourth quarter worth $177,458,000. Vanguard Group Inc. purchased a new stake in WK Kellogg during the 4th quarter worth about $76,817,000. Massachusetts Financial Services Co. MA acquired a new position in WK Kellogg in the 4th quarter valued at about $18,412,000. Beutel Goodman & Co Ltd. purchased a new position in WK Kellogg in the 4th quarter valued at about $13,730,000. Finally, London & Capital Asset Management Ltd acquired a new stake in shares of WK Kellogg during the 4th quarter worth about $10,363,000. 95.74% of the stock is owned by institutional investors and hedge funds.

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.