WK Kellogg (NYSE:KLG – Get Free Report)‘s stock had its “underweight” rating reaffirmed by equities research analysts at Barclays in a research note issued to investors on Monday, MarketBeat Ratings reports. They presently have a $23.00 price objective on the stock, up from their previous price objective of $16.00. Barclays‘s target price suggests a potential downside of 0.22% from the company’s previous close.
Other research analysts also recently issued research reports about the company. Wall Street Zen raised WK Kellogg from a “sell” rating to a “hold” rating in a research note on Sunday. TD Cowen raised WK Kellogg from a “sell” rating to a “hold” rating and raised their price objective for the stock from $14.00 to $23.00 in a research note on Monday. Morgan Stanley began coverage on WK Kellogg in a research note on Monday, March 24th. They issued an “underweight” rating and a $18.00 price objective on the stock. Cowen raised WK Kellogg from a “sell” rating to a “hold” rating in a research note on Friday. Finally, Evercore ISI raised their price objective on WK Kellogg from $19.00 to $23.00 and gave the stock an “in-line” rating in a research note on Friday, July 11th. Two equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat.com, WK Kellogg currently has a consensus rating of “Hold” and an average target price of $20.13.
Read Our Latest Stock Report on KLG
WK Kellogg Stock Up 0.2%
WK Kellogg (NYSE:KLG – Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.20 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $677.91 million. During the same period last year, the business earned $0.37 EPS. The firm’s quarterly revenue was down 6.2% compared to the same quarter last year. On average, equities research analysts predict that WK Kellogg will post 1.57 earnings per share for the current year.
Institutional Trading of WK Kellogg
Several institutional investors have recently made changes to their positions in KLG. Capital International Investors grew its position in shares of WK Kellogg by 149.8% during the fourth quarter. Capital International Investors now owns 4,186,763 shares of the company’s stock worth $75,320,000 after purchasing an additional 2,510,779 shares in the last quarter. LSV Asset Management grew its position in shares of WK Kellogg by 280.5% during the first quarter. LSV Asset Management now owns 3,038,537 shares of the company’s stock worth $60,558,000 after purchasing an additional 2,239,966 shares in the last quarter. Wellington Management Group LLP purchased a new stake in shares of WK Kellogg during the fourth quarter worth about $14,737,000. Jupiter Asset Management Ltd. grew its holdings in WK Kellogg by 17.8% during the 1st quarter. Jupiter Asset Management Ltd. now owns 2,939,001 shares of the company’s stock valued at $58,574,000 after buying an additional 444,120 shares in the last quarter. Finally, Credit Agricole S A grew its holdings in WK Kellogg by 10.4% during the 1st quarter. Credit Agricole S A now owns 4,287,331 shares of the company’s stock valued at $85,447,000 after buying an additional 403,970 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.
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