WK Kellogg Co (NYSE:KLG) Receives Consensus Rating of "Strong Sell" from Analysts

WK Kellogg Co (NYSE:KLG - Get Free Report) has been given an average rating of "Strong Sell" by the seven research firms that are currently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $16.86.

KLG has been the topic of a number of recent analyst reports. Morgan Stanley initiated coverage on shares of WK Kellogg in a research report on Monday, March 24th. They issued an "underweight" rating and a $18.00 price objective on the stock. Barclays reduced their target price on WK Kellogg from $19.00 to $16.00 and set an "underweight" rating on the stock in a research note on Friday, January 17th. Stifel Nicolaus decreased their price objective on shares of WK Kellogg from $19.00 to $18.00 and set a "hold" rating for the company in a report on Friday, January 24th. Finally, Jefferies Financial Group decreased 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.

WK Kellogg Stock Performance

NYSE:KLG opened at $17.43 on Thursday. The stock's 50 day simple moving average is $18.84 and its two-hundred day simple moving average is $18.44. WK Kellogg has a 1 year low of $14.80 and a 1 year high of $22.21. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.74 and a quick ratio of 0.32. The company has a market cap of $1.50 billion, a price-to-earnings ratio of 21.52, a PEG ratio of 2.01 and a beta of 0.54.

WK Kellogg (NYSE:KLG - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.21). WK Kellogg had a return on equity of 39.81% and a net margin of 2.66%. The company had revenue of $667.00 million during the quarter, compared to analysts' expectations of $677.91 million. During the same quarter in the prior year, the business posted $0.37 EPS. The company's revenue was down 6.2% on a year-over-year basis. As a group, equities analysts anticipate that WK Kellogg will post 1.57 earnings per share for the current fiscal year.

WK Kellogg Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 3.79%. The ex-dividend date is Friday, May 30th. WK Kellogg's dividend payout ratio (DPR) is presently 103.13%.

Hedge Funds Weigh In On WK Kellogg

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its position in WK Kellogg by 2.8% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,224 shares of the company's stock valued at $443,000 after purchasing an additional 613 shares during the last quarter. PNC Financial Services Group Inc. increased its position in WK Kellogg by 6.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 11,939 shares of the company's stock worth $238,000 after purchasing an additional 679 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in shares of WK Kellogg by 7.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 10,757 shares of the company's stock valued at $214,000 after buying an additional 733 shares in the last quarter. Truist Financial Corp raised its holdings in WK Kellogg by 2.2% during the fourth quarter. Truist Financial Corp now owns 39,658 shares of the company's stock worth $713,000 after purchasing an additional 838 shares during the last quarter. Finally, Alpha Omega Wealth Management LLC lifted its stake in WK Kellogg by 7.0% in the 1st quarter. Alpha Omega Wealth Management LLC now owns 13,780 shares of the company's stock valued at $275,000 after buying an additional 900 shares in the last quarter. 95.74% of the stock is owned by institutional investors and hedge funds.

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.

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