WK Kellogg (NYSE:KLG) Hits New 12-Month High - Should You Buy?

WK Kellogg Co (NYSE:KLG - Get Free Report)'s share price hit a new 52-week high on Wednesday . The stock traded as high as $18.21 and last traded at $17.93, with a volume of 691650 shares traded. The stock had previously closed at $17.87.

Wall Street Analyst Weigh In

KLG has been the topic of several recent analyst reports. Stifel Nicolaus decreased their price target 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. Barclays lowered their price objective on shares of WK Kellogg from $19.00 to $16.00 and set an "underweight" rating for the company in a research report on Friday, January 17th. TD Cowen lowered WK Kellogg from a "hold" rating to a "sell" rating and cut their target price for the company from $18.00 to $16.00 in a research report on Wednesday, January 8th. Morgan Stanley started coverage on WK Kellogg in a research report on Monday, March 24th. They set an "underweight" rating and a $18.00 price target for the company. Finally, Jefferies Financial Group cut their price objective on WK Kellogg from $19.00 to $16.00 and set a "hold" rating on the stock in a report on Tuesday, January 28th. Five research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and an average target price of $17.89.

WK Kellogg Stock Down 4.0 %

The business has a 50-day simple moving average of $19.13 and a 200-day simple moving average of $18.45. 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 company has a market cap of $1.44 billion, a price-to-earnings ratio of 20.78, a price-to-earnings-growth ratio of 2.01 and a beta of 0.39.

WK Kellogg (NYSE:KLG - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.40 by ($0.20). WK Kellogg had a return on equity of 39.81% and a net margin of 2.66%. During the same quarter in the previous year, the company posted $0.37 earnings per share. WK Kellogg's revenue was down 6.2% compared to the same quarter last year. On average, equities analysts anticipate that WK Kellogg Co will post 1.57 earnings per share for the current fiscal year.

WK Kellogg Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.66 annualized dividend and a dividend yield of 3.96%. WK Kellogg's dividend payout ratio is currently 81.48%.

Institutional Investors Weigh In On WK Kellogg

Several hedge funds and other institutional investors have recently made changes to their positions in KLG. Charles Schwab Investment Management Inc. raised its holdings in WK Kellogg by 11.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,240,046 shares of the company's stock worth $22,308,000 after purchasing an additional 127,488 shares in the last quarter. Victory Capital Management Inc. raised its stake in WK Kellogg by 1,217.5% during the 4th quarter. Victory Capital Management Inc. now owns 233,997 shares of the company's stock worth $4,210,000 after acquiring an additional 216,236 shares in the last quarter. Royce & Associates LP lifted its position in WK Kellogg by 46.0% in the fourth quarter. Royce & Associates LP now owns 105,134 shares of the company's stock valued at $1,891,000 after acquiring an additional 33,147 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in WK Kellogg in the fourth quarter valued at $273,000. Finally, Alberta Investment Management Corp acquired a new stake in shares of WK Kellogg during the fourth quarter worth about $2,022,000. Institutional investors and hedge funds 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.