WK Kellogg Co. (NYSE:KLG) Given Consensus Rating of "Strong Sell" by Brokerages

Shares of WK Kellogg Co. (NYSE:KLG - Get Free Report) have earned a consensus rating of "Strong Sell" from the seven analysts that are presently covering the stock, MarketBeat reports. Four research analysts have rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $16.86.

A number of analysts have recently weighed in on the company. Morgan Stanley assumed coverage on WK Kellogg in a research note on Monday, March 24th. They issued an "underweight" rating and a $18.00 target price for the company. Wall Street Zen lowered WK Kellogg from a "hold" rating to a "sell" rating in a research note on Saturday.

Institutional Trading of WK Kellogg

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capital International Investors boosted its holdings in WK Kellogg by 149.8% during the fourth quarter. Capital International Investors now owns 4,186,763 shares of the company's stock worth $75,320,000 after buying an additional 2,510,779 shares during the last quarter. LSV Asset Management boosted its holdings in WK Kellogg by 280.5% during the first quarter. LSV Asset Management now owns 3,038,537 shares of the company's stock worth $60,558,000 after buying an additional 2,239,966 shares during the last quarter. Jupiter Asset Management Ltd. boosted its holdings in WK Kellogg by 172.9% during the fourth quarter. Jupiter Asset Management Ltd. now owns 2,494,881 shares of the company's stock worth $44,883,000 after buying an additional 1,580,704 shares during the last quarter. Wellington Management Group LLP bought a new position in WK Kellogg during the fourth quarter worth about $14,737,000. Finally, Credit Agricole S A boosted its holdings in WK Kellogg by 10.4% during the first quarter. Credit Agricole S A now owns 4,287,331 shares of the company's stock worth $85,447,000 after buying an additional 403,970 shares during the last quarter. 95.74% of the stock is currently owned by institutional investors and hedge funds.

WK Kellogg Stock Performance

Shares of NYSE:KLG opened at $17.53 on Friday. WK Kellogg has a twelve month low of $14.80 and a twelve month high of $22.21. The firm has a market cap of $1.51 billion, a PE ratio of 27.38, a price-to-earnings-growth ratio of 1.89 and a beta of 0.23. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.34 and a current ratio of 0.78. The business has a fifty day moving average of $16.79 and a 200-day moving average of $17.81.

WK Kellogg (NYSE:KLG - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.20 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.21). WK Kellogg had a net margin of 2.14% and a return on equity of 34.88%. The business had revenue of $667.00 million during the quarter, compared to analyst estimates of $677.91 million. During the same quarter last year, the business posted $0.37 earnings per share. The business's quarterly revenue was down 6.2% compared to the same quarter last year. On average, equities research analysts predict that WK Kellogg will post 1.57 EPS for the current fiscal year.

WK Kellogg Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were given a $0.165 dividend. The ex-dividend date was Friday, May 30th. This represents a $0.66 dividend on an annualized basis and a yield of 3.77%. WK Kellogg's payout ratio is 103.13%.

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.

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