WK Kellogg (NYSE:KLG) Shares Down 3.6% - Should You Sell?

Shares of WK Kellogg Co. (NYSE:KLG - Get Free Report) dropped 3.6% on Thursday . The stock traded as low as $17.31 and last traded at $17.27. Approximately 125,152 shares traded hands during trading, a decline of 87% from the average daily volume of 940,444 shares. The stock had previously closed at $17.91.

Wall Street Analyst Weigh In

Separately, Morgan Stanley started coverage on shares of WK Kellogg in a research note on Monday, March 24th. They set an "underweight" rating and a $18.00 price target on the stock. Four investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company's stock. According to MarketBeat, WK Kellogg currently has an average rating of "Reduce" and a consensus price target of $16.86.

WK Kellogg Stock Performance

The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of 27.40, a price-to-earnings-growth ratio of 1.84 and a beta of 0.23. The company has a current ratio of 0.78, a quick ratio of 0.34 and a debt-to-equity ratio of 1.54. The firm's fifty day moving average price is $16.81 and its 200 day moving average price is $17.85.

WK Kellogg (NYSE:KLG - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.21). WK Kellogg had a return on equity of 34.88% and a net margin of 2.14%. The business had revenue of $667.00 million for the quarter, compared to analyst estimates of $677.91 million. During the same period in the prior year, the company posted $0.37 earnings per share. The company's revenue was down 6.2% compared to the same quarter last year. Analysts forecast that WK Kellogg Co. will post 1.57 EPS for the current fiscal year.

WK Kellogg Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were paid a dividend of $0.165 per share. The ex-dividend date was Friday, May 30th. This represents a $0.66 dividend on an annualized basis and a yield of 3.76%. WK Kellogg's dividend payout ratio is presently 103.13%.

Institutional Trading of WK Kellogg

Several institutional investors and hedge funds have recently bought and sold shares of KLG. Charles Schwab Investment Management Inc. lifted its position in WK Kellogg by 11.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,240,046 shares of the company's stock worth $22,308,000 after acquiring an additional 127,488 shares during the period. Victory Capital Management Inc. grew its position in shares of WK Kellogg by 1,217.5% in the fourth quarter. Victory Capital Management Inc. now owns 233,997 shares of the company's stock valued at $4,210,000 after purchasing an additional 216,236 shares during the period. Royce & Associates LP increased its stake 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 purchasing an additional 33,147 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in WK Kellogg in the 4th quarter valued at about $273,000. Finally, Amundi grew its holdings in WK Kellogg by 2,471.1% in the 4th quarter. Amundi now owns 119,068 shares of the company's stock valued at $2,142,000 after buying an additional 114,437 shares during the period. Hedge funds and other 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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