WK Kellogg (NYSE:KLG) Stock Price Expected to Rise, Evercore ISI Analyst Says

WK Kellogg (NYSE:KLG - Get Free Report) had its price target upped by analysts at Evercore ISI from $19.00 to $23.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an "in-line" rating on the stock. Evercore ISI's target price would indicate a potential upside of 0.68% from the stock's current price.

Several other analysts have also recently commented on the stock. Morgan Stanley assumed coverage on shares of WK Kellogg in a research note on Monday, March 24th. They issued an "underweight" rating and a $18.00 target price for the company. Wall Street Zen downgraded WK Kellogg from a "hold" rating to a "sell" rating in a research report on Saturday, July 5th. Four investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $17.71.

WK Kellogg Stock Performance

Shares of KLG traded down $0.02 during mid-day trading on Friday, hitting $22.85. 3,828,949 shares of the company's stock were exchanged, compared to its average volume of 1,323,957. WK Kellogg has a fifty-two week low of $14.80 and a fifty-two week high of $22.96. The firm has a market capitalization of $1.97 billion, a P/E ratio of 35.70, a P/E/G ratio of 1.89 and a beta of 0.23. The business's 50 day moving average is $16.85 and its two-hundred day moving average is $17.83. The company has a current ratio of 0.78, a quick ratio of 0.34 and a debt-to-equity ratio of 1.54.

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

Hedge Funds Weigh In On WK Kellogg

A number of hedge funds have recently made changes to their positions in the business. Jones Financial Companies Lllp raised its holdings in shares of WK Kellogg by 26.9% during the 4th quarter. Jones Financial Companies Lllp now owns 7,813 shares of the company's stock valued at $141,000 after buying an additional 1,657 shares during the period. Charles Schwab Investment Management Inc. increased its stake 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 buying an additional 127,488 shares during the period. Victory Capital Management Inc. increased 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 buying an additional 216,236 shares during the period. Raymond James Financial Inc. purchased a new stake in WK Kellogg during the 4th quarter worth $754,000. Finally, Amundi increased its position in shares of WK Kellogg by 2,471.1% during the fourth quarter. Amundi now owns 119,068 shares of the company's stock worth $2,142,000 after acquiring an additional 114,437 shares during the last quarter. 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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