Analysts Set WK Kellogg Co (NYSE:KLG) Price Target at $17.89

WK Kellogg Co (NYSE:KLG - Get Free Report) has received an average rating of "Strong Sell" from the nine ratings firms that are covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $17.89.

Several equities analysts have commented on KLG shares. Stifel Nicolaus dropped their target price on WK Kellogg from $19.00 to $18.00 and set a "hold" rating for the company in a research report on Friday, January 24th. TD Cowen lowered shares of WK Kellogg from a "hold" rating to a "sell" rating and reduced their target price for the stock from $18.00 to $16.00 in a report on Wednesday, January 8th. Jefferies Financial Group dropped their price target on shares of WK Kellogg from $19.00 to $16.00 and set a "hold" rating for the company in a research note on Tuesday, January 28th. Barclays reduced their price objective on shares of WK Kellogg from $19.00 to $16.00 and set an "underweight" rating on the stock in a research note on Friday, January 17th. Finally, Morgan Stanley assumed coverage on WK Kellogg in a research report on Monday, March 24th. They set an "underweight" rating and a $18.00 target price for the company.

WK Kellogg Price Performance

KLG traded down $0.05 during trading on Friday, hitting $18.53. 69,941 shares of the stock traded hands, compared to its average volume of 995,728. The business has a 50 day moving average price of $19.45 and a 200 day moving average price of $18.41. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.74 and a quick ratio of 0.32. WK Kellogg has a twelve month low of $15.17 and a twelve month high of $24.63. The company has a market cap of $1.60 billion, a price-to-earnings ratio of 22.90, a PEG ratio of 2.01 and a beta of 0.39.

WK Kellogg (NYSE:KLG - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.28 by $0.14. WK Kellogg had a net margin of 2.66% and a return on equity of 39.81%. Equities research analysts forecast that WK Kellogg will post 1.57 earnings per share for the current fiscal year.

WK Kellogg Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a $0.165 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.66 annualized dividend and a dividend yield of 3.56%. This is an increase from WK Kellogg's previous quarterly dividend of $0.16. WK Kellogg's dividend payout ratio is currently 81.48%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Keybank National Association OH boosted its stake in shares of WK Kellogg by 1.1% in the 4th quarter. Keybank National Association OH now owns 4,925,470 shares of the company's stock worth $88,609,000 after buying an additional 52,129 shares during the last quarter. Capital International Investors boosted its position in WK Kellogg by 149.8% in the fourth quarter. Capital International Investors now owns 4,186,763 shares of the company's stock worth $75,320,000 after purchasing an additional 2,510,779 shares during the last quarter. Jupiter Asset Management Ltd. grew its stake in WK Kellogg by 172.9% in the 4th quarter. Jupiter Asset Management Ltd. now owns 2,494,881 shares of the company's stock valued at $44,883,000 after purchasing an additional 1,580,704 shares during the period. D. E. Shaw & Co. Inc. increased its position in shares of WK Kellogg by 0.9% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,827,524 shares of the company's stock valued at $32,877,000 after purchasing an additional 17,088 shares during the last quarter. Finally, Captrust Financial Advisors raised its stake in shares of WK Kellogg by 12.5% during the 4th quarter. Captrust Financial Advisors now owns 1,705,509 shares of the company's stock worth $30,682,000 after purchasing an additional 189,092 shares during the period. 95.74% of the stock is currently 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.