Evercore ISI Increases WK Kellogg (NYSE:KLG) Price Target to $23.00

WK Kellogg (NYSE:KLG - Get Free Report) had its price objective boosted by analysts at Evercore ISI from $19.00 to $23.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an "in-line" rating on the stock. Evercore ISI's price objective would indicate a potential downside of 0.01% from the stock's previous close.

A number of other research firms also recently issued reports on KLG. 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. Wall Street Zen cut shares of WK Kellogg from a "hold" rating to a "sell" rating in a research note on Saturday, July 5th. Two research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to MarketBeat, WK Kellogg currently has a consensus rating of "Hold" and an average target price of $19.71.

WK Kellogg Price Performance

Shares of KLG traded up $0.11 during trading hours on Friday, reaching $23.00. 3,477,889 shares of the company's stock traded hands, compared to its average volume of 1,155,420. WK Kellogg has a 12 month low of $14.80 and a 12 month high of $23.06. 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 stock has a market cap of $1.98 billion, a PE ratio of 35.94 and a beta of 0.23. The firm's 50 day simple moving average is $16.95 and its 200-day simple moving average is $17.86.

WK Kellogg (NYSE:KLG - Get Free Report) last announced its earnings results 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 net margin of 2.14% and a return on equity of 34.88%. The company had revenue of $667.00 million during the quarter, compared to analysts' expectations of $677.91 million. During the same period in the prior year, the business earned $0.37 earnings per share. The company's revenue for the quarter was down 6.2% compared to the same quarter last year. Equities analysts expect that WK Kellogg will post 1.57 EPS for the current year.

Institutional Investors Weigh In On WK Kellogg

Several institutional investors and hedge funds have recently bought and sold shares of KLG. Ancora Advisors LLC increased its stake in shares of WK Kellogg by 181.8% during the fourth quarter. Ancora Advisors LLC now owns 1,519 shares of the company's stock valued at $27,000 after buying an additional 980 shares during the period. Wealthfront Advisers LLC bought a new stake in WK Kellogg in the fourth quarter valued at $44,000. Curat Global LLC purchased a new position in WK Kellogg during the 1st quarter valued at $66,000. Summit Securities Group LLC bought a new position in WK Kellogg in the 4th quarter worth $70,000. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in WK Kellogg by 1,030.8% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 3,675 shares of the company's stock worth $73,000 after purchasing an additional 3,350 shares in the last quarter. Hedge funds and other 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.