Jefferies Financial Group Cuts WK Kellogg (NYSE:KLG) Price Target to $16.00

WK Kellogg (NYSE:KLG) had its target price decreased by Jefferies Financial Group from $19.00 to $16.00 in a research report report published on Tuesday,Benzinga reports. Jefferies Financial Group currently has a hold rating on the stock.

KLG has been the topic of several other research reports. Stifel Nicolaus dropped their target price on WK Kellogg from $19.00 to $18.00 and set a “hold” rating on the stock in a report on Friday, January 24th. TD Cowen lowered shares of WK Kellogg from a “hold” rating to a “sell” rating and decreased their price target for the stock from $18.00 to $16.00 in a research report on Wednesday, January 8th. Finally, Barclays decreased their price target on shares of WK Kellogg from $19.00 to $16.00 and set an “underweight” rating on the stock in a research report on Friday, January 17th. Four investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to MarketBeat, WK Kellogg currently has a consensus rating of “Hold” and a consensus price target of $17.88.

WK Kellogg Stock Performance

KLG opened at $17.02 on Tuesday. The business’s 50 day moving average is $18.40 and its 200-day moving average is $17.69. The stock has a market cap of $1.47 billion, a PE ratio of 21.82 and a beta of 0.72. The company has a current ratio of 0.78, a quick ratio of 0.34 and a debt-to-equity ratio of 1.49. WK Kellogg has a twelve month low of $12.32 and a twelve month high of $24.63.

WK Kellogg (NYSE:KLG) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.05. The company had revenue of $689.00 million for the quarter, compared to analysts’ expectations of $674.10 million. WK Kellogg had a return on equity of 33.41% and a net margin of 2.50%. The business’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 earnings per share. On average, analysts predict that WK Kellogg will post 1.49 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director G Zachary Gund acquired 65,000 shares of the stock in a transaction on Thursday, November 14th. The shares were purchased at an average cost of $17.76 per share, for a total transaction of $1,154,400.00. Following the transaction, the director now owns 195,000 shares in the company, valued at approximately $3,463,200. This trade represents a 50.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On WK Kellogg

Several institutional investors and hedge funds have recently added to or reduced their stakes in KLG. Captrust Financial Advisors grew its position in WK Kellogg by 12,352.1% during the 3rd quarter. Captrust Financial Advisors now owns 1,516,417 shares of the company’s stock worth $25,946,000 after purchasing an additional 1,504,239 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of WK Kellogg by 579.1% during the 2nd quarter. AQR Capital Management LLC now owns 1,403,854 shares of the company’s stock valued at $23,107,000 after acquiring an additional 1,197,133 shares in the last quarter. Verition Fund Management LLC grew its holdings in shares of WK Kellogg by 563.8% during the 3rd quarter. Verition Fund Management LLC now owns 333,321 shares of the company’s stock valued at $5,703,000 after acquiring an additional 283,104 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of WK Kellogg by 31.1% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,124,503 shares of the company’s stock valued at $19,240,000 after acquiring an additional 266,877 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its stake in shares of WK Kellogg by 72.3% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 542,570 shares of the company’s stock valued at $9,283,000 after purchasing an additional 227,730 shares during the last quarter. 95.74% of the stock is currently owned by hedge funds and other institutional investors.

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.