WK Kellogg Co. (NYSE:KLG) Receives $20.88 Consensus Target Price from Analysts

Key Points

• WK Kellogg Co. has received an average analyst rating of "Reduce", with two analysts recommending a sell and seven suggesting a hold.
• The company's recent quarterly earnings reported an EPS of $0.25, missing expectations by $0.03, and revenue fell 8.8% year-over-year.
• WK Kellogg declared a quarterly dividend of $0.165, providing an annualized yield of 2.9%, but the company's payout ratio stands at a high 178.38%.

WK Kellogg Co. (NYSE:KLG - Get Free Report) has received an average rating of "Reduce" from the nine ratings firms that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation and seven have assigned a hold recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $20.8750.

A number of analysts have recently issued reports on the company. Wall Street Zen raised WK Kellogg from a "sell" rating to a "hold" rating in a research report on Sunday, July 13th. JPMorgan Chase & Co. assumed coverage on WK Kellogg in a report on Wednesday, August 20th. They issued a "neutral" rating and a $23.00 target price on the stock. Cowen raised WK Kellogg from a "sell" rating to a "hold" rating in a report on Friday, July 11th. Barclays reaffirmed an "underweight" rating and set a $23.00 target price (up from $16.00) on shares of WK Kellogg in a report on Monday, July 14th. Finally, Evercore ISI lifted their price objective on WK Kellogg from $19.00 to $23.00 and gave the stock an "in-line" rating in a research report on Friday, July 11th.

WK Kellogg Stock Up 0.1%

Shares of KLG stock traded up $0.03 on Friday, hitting $23.05. 229,757 shares of the stock were exchanged, compared to its average volume of 1,291,762. The company has a current ratio of 0.99, a quick ratio of 0.47 and a debt-to-equity ratio of 1.97. The firm has a market capitalization of $1.99 billion, a P/E ratio of 62.28 and a beta of 0.24. The business has a 50-day moving average of $21.12 and a 200 day moving average of $19.29. WK Kellogg has a fifty-two week low of $14.80 and a fifty-two week high of $23.56.

WK Kellogg (NYSE:KLG - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.03). WK Kellogg had a return on equity of 31.34% and a net margin of 1.31%.The company had revenue of $611.52 million for the quarter, compared to the consensus estimate of $653.36 million. During the same quarter in the previous year, the company posted $0.36 EPS. The business's revenue was down 8.8% on a year-over-year basis. Equities analysts anticipate that WK Kellogg will post 1.57 EPS for the current year.

WK Kellogg Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 29th will be given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Friday, August 29th. WK Kellogg's payout ratio is presently 178.38%.

Hedge Funds Weigh In On WK Kellogg

A number of hedge funds have recently added to or reduced their stakes in KLG. Envestnet Asset Management Inc. boosted its stake in shares of WK Kellogg by 22.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 15,185 shares of the company's stock worth $273,000 after buying an additional 2,766 shares during the last quarter. Raymond James Financial Inc. bought a new stake in WK Kellogg during the 4th quarter valued at $754,000. Marshall Wace LLP bought a new position in shares of WK Kellogg in the fourth quarter worth $397,000. Canada Pension Plan Investment Board bought a new position in shares of WK Kellogg in the fourth quarter worth $94,000. Finally, First Trust Advisors LP increased its stake in WK Kellogg by 15.3% in the fourth quarter. First Trust Advisors LP now owns 147,285 shares of the company's stock valued at $2,650,000 after acquiring an additional 19,591 shares during the last quarter. Institutional investors and hedge funds own 95.74% of the company's stock.

WK Kellogg Company Profile

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.