WK Kellogg (NYSE:KLG) Shares Up 8%

WK Kellogg Co (NYSE:KLG - Get Free Report)'s stock price traded up 8% on Tuesday . The company traded as high as $23.79 and last traded at $23.78. 957,936 shares were traded during mid-day trading, a decline of 15% from the average session volume of 1,128,765 shares. The stock had previously closed at $22.01.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Barclays boosted their target price on WK Kellogg from $12.00 to $15.00 and gave the stock an "underweight" rating in a research report on Friday, April 12th. Stifel Nicolaus boosted their price objective on WK Kellogg from $11.00 to $13.00 and gave the company a "hold" rating in a research report on Thursday, January 25th. Two investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $12.75.

WK Kellogg Stock Performance

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 company has a 50 day moving average price of $17.62 and a 200-day moving average price of $13.94.

WK Kellogg (NYSE:KLG - Get Free Report) last posted 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 firm had revenue of $651.00 million during the quarter, compared to analysts' expectations of $645.87 million. The business's revenue was down 2.7% compared to the same quarter last year. As a group, equities analysts anticipate that WK Kellogg Co will post 1.51 EPS for the current year.

WK Kellogg Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a $0.16 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.64 annualized dividend and a yield of 2.69%.

Institutional Investors Weigh In On WK Kellogg

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