WK Kellogg Co. (NYSE:KLG) Receives Average Recommendation of "Reduce" from Analysts

Key Points

• WK Kellogg Co. has received an average recommendation of "Reduce" from analysts, with two sell ratings and seven hold ratings among the nine firms covering the stock.
• Institutional investors hold 95.74% of WK Kellogg's stock, with significant recent stake increases by multiple firms, including Ancora Advisors, which raised its stake by 181.8%.
• The company's last earnings report showed a net margin decline, missing analysts' consensus estimates significantly with earnings per share of $0.20 compared to expectations of $0.41.

WK Kellogg Co. (NYSE:KLG - Get Free Report) has been assigned an average recommendation of "Reduce" from the nine ratings firms that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation and seven have given a hold recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $20.13.

A number of equities analysts have weighed in on the stock. Cowen raised shares of WK Kellogg from a "sell" rating to a "hold" rating in a research report on Friday, July 11th. Barclays reissued an "underweight" rating and issued a $23.00 price objective (up from $16.00) on shares of WK Kellogg in a research report on Monday, July 14th. TD Cowen raised shares of WK Kellogg from a "sell" rating to a "hold" rating and upped their price objective for the company from $14.00 to $23.00 in a research report on Monday, July 14th. Evercore ISI upped their price objective on shares of WK Kellogg from $19.00 to $23.00 and gave the company an "in-line" rating in a research report on Friday, July 11th. Finally, Wall Street Zen raised shares of WK Kellogg from a "sell" rating to a "hold" rating in a research report on Sunday, July 13th.

Institutional Investors Weigh In On WK Kellogg

Institutional investors and hedge funds have recently bought and sold shares of the business. Ancora Advisors LLC increased its stake in shares of WK Kellogg by 181.8% in the fourth quarter. Ancora Advisors LLC now owns 1,519 shares of the company's stock valued at $27,000 after purchasing an additional 980 shares during the period. Rosenberg Matthew Hamilton increased its stake in shares of WK Kellogg by 594.1% in the second quarter. Rosenberg Matthew Hamilton now owns 2,353 shares of the company's stock valued at $38,000 after purchasing an additional 2,014 shares during the period. Curat Global LLC acquired a new stake in shares of WK Kellogg in the first quarter valued at approximately $66,000. Whittier Trust Co. of Nevada Inc. increased its stake 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, Quantbot Technologies LP acquired a new stake in shares of WK Kellogg in the first quarter valued at approximately $87,000. Institutional investors and hedge funds own 95.74% of the company's stock.

WK Kellogg Stock Down 0.2%

Shares of NYSE KLG opened at $23.08 on Wednesday. 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 stock has a fifty day moving average price of $18.30 and a 200 day moving average price of $18.34. The company has a market cap of $1.99 billion, a P/E ratio of 36.06 and a beta of 0.23. WK Kellogg has a 12-month low of $14.80 and a 12-month high of $23.56.

WK Kellogg (NYSE:KLG - Get Free Report) last posted its quarterly earnings data 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). The firm had revenue of $667.00 million during the quarter, compared to analysts' expectations of $677.91 million. WK Kellogg had a net margin of 2.14% and a return on equity of 34.88%. The business's quarterly revenue was down 6.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.37 earnings per share. Research analysts anticipate that WK Kellogg will post 1.57 EPS for the current fiscal year.

WK Kellogg Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were paid a dividend of $0.165 per share. The ex-dividend date was Friday, May 30th. This represents a $0.66 annualized dividend and a yield of 2.86%. WK Kellogg's dividend payout ratio (DPR) 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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