WK Kellogg (NYSE:KLG) Trading Up 4.8% After Analyst Upgrade

Shares of WK Kellogg Co (NYSE:KLG - Get Free Report) were up 4.8% on Monday after Barclays raised their price target on the stock from $12.00 to $15.00. Barclays currently has an underweight rating on the stock. WK Kellogg traded as high as $22.08 and last traded at $21.93. Approximately 153,045 shares traded hands during trading, a decline of 86% from the average daily volume of 1,130,324 shares. The stock had previously closed at $20.92.

Other equities research analysts also recently issued reports about the company. Morgan Stanley started coverage on WK Kellogg in a report on Thursday, December 14th. They issued an "equal weight" rating and a $13.00 price objective for the company. Stifel Nicolaus lifted 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 company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $12.75.

Institutional Investors Weigh In On WK Kellogg

Hedge funds and other institutional investors have recently modified their holdings of the stock. Eukles Asset Management purchased a new stake in WK Kellogg in the 4th quarter worth approximately $25,000. Canal Insurance CO purchased a new stake in shares of WK Kellogg in the fourth quarter worth $26,000. Toth Financial Advisory Corp bought a new stake in shares of WK Kellogg during the 4th quarter valued at $26,000. Benjamin F. Edwards & Company Inc. bought a new stake in shares of WK Kellogg during the 4th quarter valued at $26,000. Finally, Mango Five Family Inc. purchased a new position in shares of WK Kellogg during the 4th quarter valued at $26,000. 95.74% of the stock is currently owned by hedge funds and other institutional investors.

WK Kellogg Stock Up 0.2 %

The company has a quick ratio of 0.43, a current ratio of 0.84 and a debt-to-equity ratio of 1.62. The stock has a 50 day simple moving average of $16.52.

WK Kellogg (NYSE:KLG - Get Free Report) last issued its earnings results on Tuesday, February 13th. The company reported $0.18 earnings per share (EPS) 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 the consensus estimate of $645.87 million. The business's quarterly revenue was down 2.7% on a year-over-year basis. As a group, equities analysts expect that WK Kellogg Co will post 1.51 earnings per share for the current fiscal year.

WK Kellogg Announces Dividend

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

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.