WK Kellogg (NYSE:KLG) Given New $15.00 Price Target at Barclays

WK Kellogg (NYSE:KLG - Get Free Report) had its price objective lifted by stock analysts at Barclays from $12.00 to $15.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an "underweight" rating on the stock. Barclays's price target indicates a potential downside of 28.30% from the company's current price.

Several other brokerages have also commented on KLG. Morgan Stanley initiated coverage on shares of WK Kellogg in a research report on Thursday, December 14th. They set an "equal weight" rating and a $13.00 target price on the stock. Stifel Nicolaus boosted their target price on shares of WK Kellogg from $11.00 to $13.00 and gave the stock a "hold" rating in a research report on Thursday, January 25th. Two research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $12.75.

WK Kellogg Stock Performance

KLG traded down $0.66 during trading on Friday, hitting $20.92. The stock had a trading volume of 1,049,891 shares, compared to its average volume of 1,144,870. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.43 and a current ratio of 0.84. The business has a 50-day moving average of $16.20. WK Kellogg has a twelve month low of $9.65 and a twelve month high of $21.80.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Lincoln Capital Corp acquired a new position in shares of WK Kellogg during the 4th quarter valued at about $1,026,000. Nordea Investment Management AB acquired a new position in shares of WK Kellogg during the 4th quarter valued at about $2,119,000. Inlet Private Wealth LLC acquired a new position in shares of WK Kellogg during the 4th quarter valued at about $4,038,000. Oak Thistle LLC acquired a new position in shares of WK Kellogg during the 4th quarter valued at about $1,721,000. Finally, Salem Investment Counselors Inc. acquired a new position in shares of WK Kellogg during the 4th quarter valued at about $2,319,000. Institutional investors and hedge funds 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.