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

WK Kellogg Co (NYSE:KLG) has received an average recommendation of “Reduce” from the eight research firms that are presently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $17.88.

Several research analysts have recently issued reports on the stock. TD Cowen lowered shares of WK Kellogg from a “hold” rating to a “sell” rating and reduced their target price for the company from $18.00 to $16.00 in a research note on Wednesday, January 8th. Barclays lowered their target price on shares of WK Kellogg from $19.00 to $16.00 and set an “underweight” rating for the company in a report on Friday, January 17th. Stifel Nicolaus reduced their price target on WK Kellogg from $19.00 to $18.00 and set a “hold” rating on the stock in a research report on Friday, January 24th. Finally, Jefferies Financial Group dropped their price objective on WK Kellogg from $19.00 to $16.00 and set a “hold” rating for the company in a report on Tuesday, January 28th.

WK Kellogg Price Performance

KLG opened at $16.27 on Tuesday. 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’s 50 day simple moving average is $18.34 and its 200-day simple moving average is $17.71. WK Kellogg has a one year low of $12.32 and a one year high of $24.63. The stock has a market capitalization of $1.40 billion, a P/E ratio of 20.85 and a beta of 0.71.

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 analysts’ consensus estimates of $0.26 by $0.05. The company 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 firm’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.49 earnings per share. Sell-side analysts anticipate that WK Kellogg will post 1.48 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in KLG. Captrust Financial Advisors grew its stake in shares of WK Kellogg by 12,352.1% in the third 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. Geode Capital Management LLC increased its stake in shares of WK Kellogg by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,507,713 shares of the company’s stock worth $25,802,000 after purchasing an additional 38,939 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of 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 valued at $19,240,000 after purchasing an additional 266,877 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in WK Kellogg by 7.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,112,558 shares of the company’s stock valued at $19,036,000 after purchasing an additional 79,808 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its position in WK Kellogg by 72.3% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 542,570 shares of the company’s stock worth $9,283,000 after buying an additional 227,730 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.