WK Kellogg (NYSE:KLG) Lowered to Sell Rating by Wall Street Zen

WK Kellogg (NYSE:KLG - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Saturday.

Separately, Morgan Stanley began 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. Five equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Reduce" and an average price target of $16.86.

WK Kellogg Stock Down 2.1%

Shares of KLG opened at $17.53 on Friday. 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 1.54, a current ratio of 0.78 and a quick ratio of 0.34. The stock has a 50 day simple moving average of $16.79 and a two-hundred day simple moving average of $17.81. The firm has a market cap of $1.51 billion, a P/E ratio of 27.38, a P/E/G ratio of 1.89 and a beta of 0.23.

WK Kellogg (NYSE:KLG - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.20 earnings per share (EPS) 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 analysts' expectations of $677.91 million. During the same period last year, the company posted $0.37 EPS. WK Kellogg's revenue for the quarter was down 6.2% on a year-over-year basis. On average, analysts forecast that WK Kellogg will post 1.57 earnings per share for the current fiscal year.

Institutional Trading of WK Kellogg

Large investors have recently added to or reduced their stakes in the stock. Ancora Advisors LLC raised its holdings in WK Kellogg by 181.8% in the fourth quarter. Ancora Advisors LLC now owns 1,519 shares of the company's stock worth $27,000 after purchasing an additional 980 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of WK Kellogg in the 4th quarter worth about $36,000. Wealthfront Advisers LLC bought a new position in shares of WK Kellogg in the 4th quarter worth about $44,000. Curat Global LLC purchased a new position in WK Kellogg during the 1st quarter valued at about $66,000. Finally, Summit Securities Group LLC purchased a new position in WK Kellogg during the 4th quarter valued at about $70,000. Institutional investors 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.

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