Jefferies Financial Group Issues Pessimistic Forecast for WK Kellogg (NYSE:KLG) Stock Price

WK Kellogg (NYSE:KLG) had its price target dropped by investment analysts at Jefferies Financial Group from $19.00 to $16.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Jefferies Financial Group’s price objective indicates a potential downside of 3.33% from the stock’s previous close.

KLG has been the subject of a number of other research reports. Stifel Nicolaus decreased their target price on shares of WK Kellogg from $19.00 to $18.00 and set a “hold” rating for the company in a research report on Friday, January 24th. Barclays decreased their price objective on WK Kellogg from $19.00 to $16.00 and set an “underweight” rating for the company in a report on Friday, January 17th. Finally, TD Cowen lowered WK Kellogg from a “hold” rating to a “sell” rating and dropped their target price for the stock from $18.00 to $16.00 in a report on Wednesday, January 8th. Four investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $17.88.

WK Kellogg Stock Performance

KLG stock opened at $16.55 on Tuesday. WK Kellogg has a 1-year low of $12.32 and a 1-year high of $24.63. The company has a current ratio of 0.78, a quick ratio of 0.34 and a debt-to-equity ratio of 1.49. The firm has a market cap of $1.43 billion, a PE ratio of 21.22 and a beta of 0.72. The business’s 50-day moving average price is $18.41 and its two-hundred day moving average price is $17.70.

WK Kellogg (NYSE:KLG) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.05. The company had revenue of $689.00 million during the quarter, compared to analysts’ expectations of $674.10 million. WK Kellogg had a net margin of 2.50% and a return on equity of 33.41%. The business’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.49 earnings per share. As a group, research analysts forecast that WK Kellogg will post 1.49 earnings per share for the current year.

Insider Buying and Selling

In related news, Director G Zachary Gund acquired 65,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was purchased at an average cost of $17.94 per share, for a total transaction of $1,166,100.00. Following the completion of the transaction, the director now directly owns 65,000 shares of the company’s stock, valued at approximately $1,166,100. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On WK Kellogg

A number of large investors have recently made changes to their positions in the company. Captrust Financial Advisors grew its holdings in WK Kellogg by 12,352.1% in the 3rd quarter. Captrust Financial Advisors now owns 1,516,417 shares of the company’s stock valued at $25,946,000 after buying an additional 1,504,239 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of WK Kellogg by 579.1% in the second quarter. AQR Capital Management LLC now owns 1,403,854 shares of the company’s stock valued at $23,107,000 after acquiring an additional 1,197,133 shares in the last quarter. Verition Fund Management LLC increased its position in WK Kellogg by 563.8% during the third quarter. Verition Fund Management LLC now owns 333,321 shares of the company’s stock worth $5,703,000 after acquiring an additional 283,104 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in WK Kellogg by 31.1% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,124,503 shares of the company’s stock worth $19,240,000 after purchasing an additional 266,877 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC boosted its holdings in WK Kellogg by 72.3% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 542,570 shares of the company’s stock valued at $9,283,000 after purchasing an additional 227,730 shares during the period. Institutional investors 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.