WK Kellogg (NYSE:KLG) Now Covered by Analysts at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. reaffirmed a neutral rating for WK Kellogg's stock, raising its target price from $19.00 to $23.00, indicating a potential upside of 0.11% from the previous close.
• Other analysts have varied opinions on WK Kellogg, with Barclays maintaining an "underweight" rating, while others upgraded the stock to a "hold" rating and set similar target prices of $23.00.
• WK Kellogg reported earnings of $0.25 EPS for its last quarter, missing estimates and showing an 8.8% year-over-year revenue decline, suggesting challenges in performance.

Analysts at JPMorgan Chase & Co. started coverage on shares of WK Kellogg (NYSE:KLG - Get Free Report) in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. The firm set a "neutral" rating and a $23.00 price target on the stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 0.07% from the stock's current price.

Other equities analysts have also issued reports about the company. Cowen raised WK Kellogg from a "sell" rating to a "hold" rating in a report on Friday, July 11th. TD Cowen raised WK Kellogg from a "sell" rating to a "hold" rating and increased their price objective for the stock from $14.00 to $23.00 in a report on Monday, July 14th. Wall Street Zen raised WK Kellogg from a "sell" rating to a "hold" rating in a report on Sunday, July 13th. BNP Paribas set a $23.00 price objective on WK Kellogg in a report on Friday, July 11th. Finally, Evercore ISI increased their price objective on WK Kellogg from $19.00 to $23.00 and gave the stock an "in-line" rating in a report on Friday, July 11th. Seven equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus price target of $20.88.

WK Kellogg Stock Performance

Shares of NYSE:KLG traded up $0.0150 during trading on Wednesday, hitting $22.9850. 571,451 shares of the company traded hands, compared to its average volume of 1,302,274. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of 62.12 and a beta of 0.24. The business's fifty day moving average is $20.68 and its 200-day moving average is $19.19. WK Kellogg has a one year low of $14.80 and a one year high of $23.56. The company has a quick ratio of 0.47, a current ratio of 0.99 and a debt-to-equity ratio of 1.97.

WK Kellogg (NYSE:KLG - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.28 by ($0.03). WK Kellogg had a return on equity of 31.34% and a net margin of 1.31%.The business had revenue of $611.52 million during the quarter, compared to the consensus estimate of $653.36 million. During the same period last year, the company earned $0.36 earnings per share. The business's quarterly revenue was down 8.8% compared to the same quarter last year. As a group, equities analysts predict that WK Kellogg will post 1.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On WK Kellogg

Institutional investors and hedge funds have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. lifted its position in shares of WK Kellogg by 7.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 10,757 shares of the company's stock valued at $214,000 after acquiring an additional 733 shares during the last quarter. Exchange Traded Concepts LLC acquired a new stake in shares of WK Kellogg during the 1st quarter valued at $1,892,000. Oppenheimer & Co. Inc. lifted its position in shares of WK Kellogg by 110.6% during the 1st quarter. Oppenheimer & Co. Inc. now owns 26,994 shares of the company's stock valued at $538,000 after acquiring an additional 14,175 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of WK Kellogg during the 4th quarter valued at $754,000. Finally, Man Group plc lifted its position in shares of WK Kellogg by 155.1% during the 4th quarter. Man Group plc now owns 30,552 shares of the company's stock valued at $550,000 after acquiring an additional 18,577 shares during the last quarter. Institutional investors and hedge funds 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.