Brokerages Set WK Kellogg Co. (NYSE:KLG) PT at $20.88

Shares of WK Kellogg Co. (NYSE:KLG) have earned an average rating of “Reduce” from the ten analysts that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation and eight have given a hold recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $20.8750.

Several research analysts have recently issued reports on the stock. Cowen upgraded shares of WK Kellogg from a “sell” rating to a “hold” rating in a report on Friday, July 11th. BNP Paribas set a $23.00 target price on shares of WK Kellogg in a research report on Friday, July 11th. JPMorgan Chase & Co. assumed coverage on shares of WK Kellogg in a research report on Wednesday, August 20th. They issued a “neutral” rating and a $23.00 target price for the company. Evercore ISI increased their price target on shares of WK Kellogg from $19.00 to $23.00 and gave the stock an “in-line” rating in a research note on Friday, July 11th. Finally, TD Cowen upgraded shares of WK Kellogg from a “sell” rating to a “hold” rating and raised their target price for the company from $14.00 to $23.00 in a research note on Monday, July 14th.

Hedge Funds Weigh In On WK Kellogg

Several institutional investors have recently added to or reduced their stakes in KLG. LSV Asset Management lifted its holdings in WK Kellogg by 280.5% during the 1st quarter. LSV Asset Management now owns 3,038,537 shares of the company’s stock valued at $60,558,000 after purchasing an additional 2,239,966 shares during the last quarter. Wellington Management Group LLP acquired a new stake in WK Kellogg in the 4th quarter valued at about $14,737,000. Jupiter Asset Management Ltd. grew its position in shares of WK Kellogg by 17.8% during the 1st quarter. Jupiter Asset Management Ltd. now owns 2,939,001 shares of the company’s stock worth $58,574,000 after buying an additional 444,120 shares during the period. Credit Agricole S A grew its position in shares of WK Kellogg by 10.4% during the 1st quarter. Credit Agricole S A now owns 4,287,331 shares of the company’s stock worth $85,447,000 after buying an additional 403,970 shares during the period. Finally, Teacher Retirement System of Texas grew its position in shares of WK Kellogg by 216.8% during the 2nd quarter. Teacher Retirement System of Texas now owns 538,745 shares of the company’s stock worth $8,588,000 after buying an additional 368,674 shares during the period. 95.74% of the stock is owned by institutional investors.

WK Kellogg Price Performance

KLG opened at $23.00 on Thursday. The company has a 50-day moving average of $23.06 and a 200-day moving average of $19.77. The company has a market capitalization of $1.99 billion, a P/E ratio of 62.16 and a beta of 0.24. WK Kellogg has a 1-year low of $14.80 and a 1-year high of $23.56. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.47 and a current ratio of 0.99.

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

WK Kellogg Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 29th were issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, August 29th. WK Kellogg’s dividend payout ratio (DPR) is presently 178.38%.

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.