WK Kellogg (NYSE:KLG) Raised to "Hold" at TD Cowen

WK Kellogg (NYSE:KLG - Get Free Report) was upgraded by stock analysts at TD Cowen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Monday, MarketBeat.com reports. The brokerage presently has a $23.00 price objective on the stock, up from their previous price objective of $14.00. TD Cowen's price target indicates a potential downside of 0.84% from the company's current price.

Other equities research analysts have also recently issued reports about the company. Evercore ISI lifted their target price on WK Kellogg from $19.00 to $23.00 and gave the stock an "in-line" rating in a report on Friday, July 11th. Morgan Stanley began coverage on WK Kellogg in a report on Monday, March 24th. They issued an "underweight" rating and a $18.00 target price on the stock. Wall Street Zen raised WK Kellogg from a "sell" rating to a "hold" rating in a report on Sunday. Finally, Cowen raised WK Kellogg from a "sell" rating to a "hold" rating in a report on Friday, July 11th. Two equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $20.13.

WK Kellogg Stock Performance

NYSE KLG traded up $0.02 on Monday, hitting $23.20. 452,614 shares of the company traded hands, compared to its average volume of 1,163,295. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of 36.23 and a beta of 0.23. The company has a current ratio of 0.78, a quick ratio of 0.34 and a debt-to-equity ratio of 1.54. The business's 50 day moving average price is $17.29 and its 200-day moving average price is $17.96. WK Kellogg has a 52-week low of $14.80 and a 52-week high of $23.22.

WK Kellogg (NYSE:KLG - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.21). WK Kellogg had a net margin of 2.14% and a return on equity of 34.88%. The company had revenue of $667.00 million for the quarter, compared to analysts' expectations of $677.91 million. During the same quarter last year, the firm posted $0.37 earnings per share. WK Kellogg's revenue for the quarter was down 6.2% on a year-over-year basis. Equities analysts expect that WK Kellogg will post 1.57 earnings per share for the current year.

Institutional Investors Weigh In On WK Kellogg

Large investors have recently added to or reduced their stakes in the stock. Ancora Advisors LLC boosted its position in shares of WK Kellogg by 181.8% during the fourth quarter. Ancora Advisors LLC now owns 1,519 shares of the company's stock valued at $27,000 after buying an additional 980 shares during the period. Wealthfront Advisers LLC purchased a new position in shares of WK Kellogg during the fourth quarter valued at approximately $44,000. Curat Global LLC purchased a new stake in shares of WK Kellogg in the first quarter valued at approximately $66,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of WK Kellogg by 1,030.8% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 3,675 shares of the company's stock valued at $73,000 after purchasing an additional 3,350 shares during the period. Finally, Summit Securities Group LLC purchased a new stake in shares of WK Kellogg in the fourth quarter valued at approximately $70,000. 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.