Stifel Nicolaus Cuts WK Kellogg (NYSE:KLG) Price Target to $18.00

WK Kellogg (NYSE:KLG) had its price objective cut by Stifel Nicolaus from $19.00 to $18.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a hold rating on the stock.

A number of other equities research analysts also recently weighed in on KLG. Barclays dropped their price objective 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. TD Cowen downgraded shares of WK Kellogg from a “hold” rating to a “sell” rating and lowered their target price for the company from $18.00 to $16.00 in a research note on Wednesday, January 8th. Four equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to MarketBeat.com, WK Kellogg presently has a consensus rating of “Reduce” and an average target price of $18.14.

WK Kellogg Price Performance

Shares of KLG stock opened at $16.95 on Friday. The stock has a 50 day moving average price of $18.42 and a 200 day moving average price of $17.68. WK Kellogg has a 52-week low of $12.32 and a 52-week high of $24.63. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.34 and a current ratio of 0.78. The firm has a market capitalization of $1.46 billion, a P/E ratio of 21.73 and a beta of 0.72.

WK Kellogg (NYSE:KLG) last released its earnings results on Thursday, November 7th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.05. The business had revenue of $689.00 million during the quarter, compared to the consensus estimate 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 period last year, the company earned $0.49 earnings per share. As a group, sell-side analysts predict that WK Kellogg will post 1.49 earnings per share for the current year.

WK Kellogg Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date was Friday, November 29th. WK Kellogg’s dividend payout ratio (DPR) is 82.05%.

Insider Buying and Selling at WK Kellogg

In other WK Kellogg news, Director G Zachary Gund purchased 65,000 shares of the stock in a transaction on Thursday, November 14th. The shares were bought at an average price of $17.76 per share, for a total transaction of $1,154,400.00. Following the completion of the transaction, the director now owns 195,000 shares of the company’s stock, valued at $3,463,200. This trade represents a 50.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its stake in WK Kellogg by 11.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 439,258 shares of the company’s stock valued at $7,232,000 after acquiring an additional 46,735 shares during the period. Public Sector Pension Investment Board grew its position in shares of WK Kellogg by 6.3% in the second quarter. Public Sector Pension Investment Board now owns 145,471 shares of the company’s stock valued at $2,394,000 after purchasing an additional 8,647 shares during the period. AQR Capital Management LLC increased its stake in shares of WK Kellogg by 579.1% during the second quarter. AQR Capital Management LLC now owns 1,403,854 shares of the company’s stock worth $23,107,000 after purchasing an additional 1,197,133 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of WK Kellogg by 158.0% during the second quarter. The Manufacturers Life Insurance Company now owns 33,726 shares of the company’s stock valued at $555,000 after acquiring an additional 20,656 shares during the last quarter. Finally, Mackenzie Financial Corp acquired a new stake in shares of WK Kellogg in the second quarter worth approximately $183,000. 95.74% of the stock is owned by institutional investors and hedge funds.

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.