WK Kellogg (NYSE:KLG) Reaches New 52-Week High - Time to Buy?

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Wall Street Zen raised WK Kellogg from a "sell" rating to a "hold" rating in a research report on Sunday. Evercore ISI boosted their price objective on WK Kellogg from $19.00 to $23.00 and gave the stock an "in-line" rating in a research report on Friday. Morgan Stanley assumed coverage on WK Kellogg in a research report on Monday, March 24th. They set an "underweight" rating and a $18.00 price objective for the company. Finally, Cowen raised WK Kellogg from a "sell" rating to a "hold" rating in a research report on Friday. Three research analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat.com, WK Kellogg presently has a consensus rating of "Hold" and an average price target of $17.71.

WK Kellogg Stock Up 0.1%

The stock has a market cap of $1.97 billion, a P/E ratio of 35.75 and a beta of 0.23. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.34 and a current ratio of 0.78. The firm's 50-day moving average is $16.95 and its two-hundred day moving average is $17.86.

WK Kellogg (NYSE:KLG - Get Free Report) last released its earnings results 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 for the quarter, compared to analyst estimates of $677.91 million. During the same quarter in the previous year, the company posted $0.37 earnings per share. The business's revenue for the quarter was down 6.2% on a year-over-year basis. On average, equities research analysts anticipate that WK Kellogg Co. will post 1.57 earnings per share for the current year.

WK Kellogg Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were given a dividend of $0.165 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.66 annualized dividend and a dividend yield of 2.88%. WK Kellogg's payout ratio is currently 103.13%.

Institutional Investors Weigh In On WK Kellogg

Several hedge funds have recently bought and sold shares of KLG. Exchange Traded Concepts LLC raised its position in shares of WK Kellogg by 4.3% during the second quarter. Exchange Traded Concepts LLC now owns 99,020 shares of the company's stock worth $1,578,000 after purchasing an additional 4,067 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in WK Kellogg by 5.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 145,640 shares of the company's stock worth $2,903,000 after buying an additional 7,830 shares during the period. Jones Financial Companies Lllp raised its holdings in WK Kellogg by 150.3% during the 1st quarter. Jones Financial Companies Lllp now owns 19,559 shares of the company's stock worth $390,000 after buying an additional 11,746 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in WK Kellogg by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,997 shares of the company's stock valued at $777,000 after buying an additional 1,659 shares in the last quarter. Finally, Hancock Whitney Corp boosted its holdings in shares of WK Kellogg by 5.5% in the first quarter. Hancock Whitney Corp now owns 39,411 shares of the company's stock valued at $785,000 after buying an additional 2,071 shares during the period. 95.74% of the stock is currently owned by institutional investors and hedge funds.

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.