WK Kellogg (NYSE:KLG) Price Target Raised to $24.00 at TD Cowen

WK Kellogg (NYSE:KLG - Free Report) had its price objective hoisted by TD Cowen from $13.00 to $24.00 in a research note published on Wednesday, Benzinga reports. They currently have a hold rating on the stock.

KLG has been the topic of a number of other reports. Barclays boosted 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. Stifel Nicolaus upped their price target on WK Kellogg from $20.00 to $22.00 and gave the stock a hold rating in a research report on Wednesday. BNP Paribas downgraded shares of WK Kellogg from a neutral rating to an underperform rating and set a $20.00 price objective on the stock. in a report on Wednesday. Finally, Evercore ISI boosted their price objective on shares of WK Kellogg from $21.00 to $23.00 and gave the stock an in-line rating in a research report on Wednesday. Three investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $16.55.

WK Kellogg Price Performance

NYSE KLG traded down $2.32 during trading hours on Wednesday, reaching $21.95. 1,853,679 shares of the company's stock were exchanged, compared to its average volume of 1,137,729. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.84 and a quick ratio of 0.43. The company's 50-day moving average is $19.56 and its two-hundred day moving average is $14.94. WK Kellogg has a one year low of $9.65 and a one year high of $24.63.

WK Kellogg (NYSE:KLG - Get Free Report) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.37 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.37. The company had revenue of $707.00 million for 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. Equities research analysts forecast that WK Kellogg will post 1.51 EPS for the current fiscal year.

WK Kellogg Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date is Friday, May 31st.

Hedge Funds Weigh In On WK Kellogg

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp acquired a new stake in shares of WK Kellogg during the 3rd quarter worth about $685,000. Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of WK Kellogg during the third quarter worth approximately $1,657,000. Diversified Trust Co acquired a new position in shares of WK Kellogg in the fourth quarter valued at approximately $147,000. Daymark Wealth Partners LLC bought a new position in shares of WK Kellogg during the fourth quarter worth approximately $976,000. Finally, Nordea Investment Management AB acquired a new stake in WK Kellogg during the 4th quarter worth approximately $2,119,000. 95.74% of the stock is owned by institutional investors.

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.