WK Kellogg (NYSE:KLG) Hits New 1-Year High - What's Next?

WK Kellogg Co. (NYSE:KLG - Get Free Report)'s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $22.87 and last traded at $22.90, with a volume of 18546841 shares trading hands. The stock had previously closed at $17.50.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on KLG shares. Evercore ISI lifted their price target on WK Kellogg from $19.00 to $23.00 and gave the company an "in-line" rating in a research note on Friday. Wall Street Zen lowered WK Kellogg from a "hold" rating to a "sell" rating in a research report on Saturday, July 5th. Finally, Morgan Stanley initiated coverage on shares of WK Kellogg in a report on Monday, March 24th. They set an "underweight" rating and a $18.00 price objective for the company. Four analysts have rated the stock with a sell rating and four have given a hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $17.71.

WK Kellogg Trading Up 0.1%

The firm's 50 day moving average is $16.85 and its 200 day moving average is $17.83. 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 company has a market capitalization of $1.97 billion, a PE ratio of 35.75, a P/E/G ratio of 1.89 and a beta of 0.23.

WK Kellogg (NYSE:KLG - Get Free Report) last issued 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 company had revenue of $667.00 million for the quarter, compared to analysts' expectations of $677.91 million. During the same period in the previous year, the firm posted $0.37 earnings per share. The firm's revenue for the quarter was down 6.2% compared to the same quarter last year. As a group, equities analysts predict that WK Kellogg Co. will post 1.57 EPS for the current year.

WK Kellogg Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were issued a $0.165 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.66 annualized dividend and a yield of 2.88%. WK Kellogg's dividend payout ratio (DPR) is presently 103.13%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in KLG. Vanguard Group Inc. grew its stake in WK Kellogg by 4.6% in the first quarter. Vanguard Group Inc. now owns 5,640,453 shares of the company's stock worth $112,414,000 after purchasing an additional 245,555 shares during the period. Credit Agricole S A increased its stake in shares of WK Kellogg by 10.4% in the 1st quarter. Credit Agricole S A now owns 4,287,331 shares of the company's stock worth $85,447,000 after acquiring an additional 403,970 shares in the last quarter. Capital International Investors lifted its position in WK Kellogg by 149.8% during the 4th quarter. Capital International Investors now owns 4,186,763 shares of the company's stock valued at $75,320,000 after acquiring an additional 2,510,779 shares during the period. LSV Asset Management boosted its stake 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 acquiring an additional 2,239,966 shares in the last quarter. Finally, Jupiter Asset Management Ltd. increased its stake in shares of WK Kellogg by 17.8% during the first quarter. Jupiter Asset Management Ltd. now owns 2,939,001 shares of the company's stock valued at $58,574,000 after purchasing an additional 444,120 shares in the last quarter. Institutional investors own 95.74% of the company's stock.

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.