WK Kellogg Co (NYSE:KLG) Receives Average Recommendation of "Strong Sell" from Analysts

Shares of WK Kellogg Co (NYSE:KLG - Get Free Report) have been given an average recommendation of "Strong Sell" by the seven analysts that are currently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell rating and three have issued a hold rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $16.86.

Several analysts recently commented on KLG shares. Jefferies Financial Group dropped their price objective on WK Kellogg from $19.00 to $16.00 and set a "hold" rating on the stock in a research note on Tuesday, January 28th. Stifel Nicolaus dropped their price objective on WK Kellogg from $19.00 to $18.00 and set a "hold" rating on the stock in a research note on Friday, January 24th. Finally, Morgan Stanley started coverage on WK Kellogg in a research note on Monday, March 24th. They set an "underweight" rating and a $18.00 price objective on the stock.

Institutional Trading of WK Kellogg

Several hedge funds and other institutional investors have recently modified their holdings of KLG. Barclays PLC raised its stake in shares of WK Kellogg by 406.6% in the 3rd quarter. Barclays PLC now owns 128,710 shares of the company's stock valued at $2,202,000 after purchasing an additional 103,301 shares during the period. Franklin Resources Inc. raised its stake in shares of WK Kellogg by 13.3% in the 3rd quarter. Franklin Resources Inc. now owns 170,161 shares of the company's stock valued at $3,010,000 after purchasing an additional 20,033 shares during the period. JPMorgan Chase & Co. raised its stake in shares of WK Kellogg by 69.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 313,182 shares of the company's stock valued at $5,359,000 after purchasing an additional 127,984 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of WK Kellogg by 75.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 15,433 shares of the company's stock valued at $278,000 after purchasing an additional 6,631 shares during the period. Finally, Janney Montgomery Scott LLC raised its stake in shares of WK Kellogg by 13.2% in the 4th quarter. Janney Montgomery Scott LLC now owns 16,818 shares of the company's stock valued at $303,000 after purchasing an additional 1,955 shares during the period. Institutional investors and hedge funds own 95.74% of the company's stock.

WK Kellogg Price Performance

Shares of KLG stock remained flat at $17.87 during trading hours on Thursday. The stock had a trading volume of 895,760 shares, compared to its average volume of 980,318. The firm's fifty day simple moving average is $18.62 and its 200 day simple moving average is $18.47. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.32 and a current ratio of 0.74. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of 22.06, a price-to-earnings-growth ratio of 2.01 and a beta of 0.54. WK Kellogg has a one year low of $14.80 and a one year high of $22.21.

WK Kellogg (NYSE:KLG - Get Free Report) last posted its quarterly 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). The company had revenue of $667.00 million during the quarter, compared to analyst estimates of $677.91 million. WK Kellogg had a net margin of 2.66% and a return on equity of 39.81%. The business's revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period last year, the company earned $0.37 EPS. As a group, sell-side analysts forecast that WK Kellogg will post 1.57 EPS for the current fiscal year.

WK Kellogg Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be paid a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 3.69%. The ex-dividend date of this dividend is Friday, May 30th. WK Kellogg's dividend payout ratio is 103.13%.

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.