WK Kellogg Co (NYSE:KLG) Receives Consensus Recommendation of “Reduce” from Analysts

Shares of WK Kellogg Co (NYSE:KLG) have earned a consensus recommendation of “Reduce” from the eight ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $18.88.

A number of research analysts recently weighed in on KLG shares. JPMorgan Chase & Co. cut their price objective on WK Kellogg from $22.00 to $17.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Barclays lifted their price target on WK Kellogg from $16.00 to $19.00 and gave the stock an “underweight” rating in a research report on Monday, November 11th.

WK Kellogg Stock Down 0.7 %

KLG opened at $17.08 on Thursday. WK Kellogg has a fifty-two week low of $10.99 and a fifty-two week high of $24.63. The business has a 50-day moving average of $17.48 and a 200-day moving average of $17.79. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.78 and a quick ratio of 0.34. The company has a market capitalization of $1.47 billion and a PE ratio of 21.90.

WK Kellogg (NYSE:KLG) last issued its quarterly earnings data 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. WK Kellogg had a return on equity of 33.41% and a net margin of 2.50%. The business had revenue of $689.00 million for the quarter, compared to the consensus estimate of $674.10 million. During the same period last year, the business earned $0.49 EPS. The firm’s revenue was down .4% compared to the same quarter last year. Equities research analysts forecast that WK Kellogg will post 1.49 EPS for the current fiscal year.

WK Kellogg Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.75%. The ex-dividend date of this dividend is Friday, November 29th. WK Kellogg’s payout ratio is presently 82.05%.

Insider Transactions at WK Kellogg

In related news, Director G Zachary Gund purchased 65,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were acquired at an average price of $17.76 per share, with a total value of $1,154,400.00. Following the purchase, the director now directly owns 195,000 shares in the company, valued at $3,463,200. This represents a 50.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.90% of the stock is owned by insiders.

Institutional Trading of WK Kellogg

Several institutional investors have recently bought and sold shares of KLG. GAMMA Investing LLC boosted its stake in WK Kellogg by 88.6% in the third quarter. GAMMA Investing LLC now owns 1,890 shares of the company’s stock worth $32,000 after purchasing an additional 888 shares in the last quarter. EntryPoint Capital LLC bought a new stake in WK Kellogg in the first quarter valued at about $42,000. Rothschild Investment LLC bought a new stake in WK Kellogg in the second quarter valued at about $46,000. Abich Financial Wealth Management LLC increased its holdings in WK Kellogg by 3,575.4% in the third quarter. Abich Financial Wealth Management LLC now owns 4,484 shares of the company’s stock valued at $77,000 after purchasing an additional 4,362 shares during the last quarter. Finally, International Assets Investment Management LLC increased its holdings in WK Kellogg by 1,724.1% in the third quarter. International Assets Investment Management LLC now owns 4,688 shares of the company’s stock valued at $80,000 after purchasing an additional 4,431 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.