WK Kellogg (NYSE:KLG) PT Raised to $20.00

WK Kellogg (NYSE:KLG - Free Report) had its price objective increased by Stifel Nicolaus from $13.00 to $20.00 in a research report sent to investors on Friday, Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

Separately, Barclays raised their price target on WK Kellogg from $12.00 to $15.00 and gave the company an underweight rating in a report on Friday, April 12th. Two research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to MarketBeat.com, the stock has an average rating of Hold and an average target price of $13.45.

WK Kellogg Stock Down 1.6 %

NYSE KLG traded down $0.40 during trading hours on Friday, hitting $23.94. The company had a trading volume of 891,706 shares, compared to its average volume of 1,133,363. WK Kellogg has a 52 week low of $9.65 and a 52 week high of $24.63. The firm has a 50 day simple moving average of $18.00 and a 200 day simple moving average of $14.08. 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 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 during the quarter, compared to analyst estimates of $645.87 million. The firm's quarterly revenue was down 2.7% on a year-over-year basis. As a group, sell-side analysts forecast that WK Kellogg will post 1.51 EPS for the current year.

WK Kellogg Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a $0.16 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.67%.

Institutional Trading of WK Kellogg

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Kellogg W K Foundation Trust purchased a new position in shares of WK Kellogg during the fourth quarter worth approximately $177,458,000. Massachusetts Financial Services Co. MA purchased a new position in shares of WK Kellogg during the fourth quarter worth approximately $18,412,000. Beutel Goodman & Co Ltd. purchased a new position in shares of WK Kellogg during the fourth quarter worth approximately $13,730,000. London & Capital Asset Management Ltd purchased a new position in shares of WK Kellogg during the fourth quarter worth approximately $10,363,000. Finally, Private Management Group Inc. purchased a new position in shares of WK Kellogg during the fourth quarter worth approximately $8,956,000. 95.74% of the stock is owned by hedge funds and other institutional investors.

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.