WK Kellogg (NYSE:KLG) Reaches New 52-Week Low Following Weak Earnings

WK Kellogg Co (NYSE:KLG)’s stock price hit a new 52-week low during mid-day trading on Tuesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $14.80 and last traded at $16.29, with a volume of 380101 shares changing hands. The stock had previously closed at $17.36.

The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.20). WK Kellogg had a net margin of 2.66% and a return on equity of 39.81%. WK Kellogg’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.37 EPS.

WK Kellogg Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.165 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.66 annualized dividend and a dividend yield of 3.98%. WK Kellogg’s dividend payout ratio is presently 81.48%.

Wall Street Analysts Forecast Growth

KLG has been the topic of several research analyst reports. Morgan Stanley began coverage on shares of WK Kellogg in a research report on Monday, March 24th. They set an “underweight” rating and a $18.00 target price on the stock. Stifel Nicolaus cut their price objective on WK Kellogg from $19.00 to $18.00 and set a “hold” rating on the stock in a report on Friday, January 24th. Barclays dropped their target price on WK Kellogg from $19.00 to $16.00 and set an “underweight” rating on the stock in a research report on Friday, January 17th. Jefferies Financial Group reduced their price target on shares of WK Kellogg from $19.00 to $16.00 and set a “hold” rating for the company in a research report on Tuesday, January 28th. Finally, TD Cowen downgraded shares of WK Kellogg from a “hold” rating to a “sell” rating and dropped their price objective for the company from $18.00 to $16.00 in a report on Wednesday, January 8th. Five research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $17.89.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Halbert Hargrove Global Advisors LLC purchased a new position in shares of WK Kellogg in the 4th quarter valued at about $25,000. Ancora Advisors LLC raised its stake in shares of WK Kellogg by 181.8% during the 4th quarter. Ancora Advisors LLC now owns 1,519 shares of the company’s stock worth $27,000 after buying an additional 980 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of WK Kellogg during the 4th quarter valued at approximately $36,000. Wealthfront Advisers LLC acquired a new stake in WK Kellogg in the 4th quarter valued at $44,000. Finally, GAMMA Investing LLC increased its holdings in WK Kellogg by 49.4% in the 4th quarter. GAMMA Investing LLC now owns 2,823 shares of the company’s stock worth $51,000 after acquiring an additional 933 shares in the last quarter. Hedge funds and other institutional investors own 95.74% of the company’s stock.

WK Kellogg Trading Down 4.4 %

The firm has a market capitalization of $1.43 billion, a PE ratio of 20.49, a P/E/G ratio of 2.01 and a beta of 0.39. The company’s fifty day simple moving average is $19.13 and its 200-day simple moving average is $18.45. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.74 and a quick ratio of 0.32.

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.