WK Kellogg Co (NYSE:KLG) Given Average Rating of “Strong Sell” by Brokerages

WK Kellogg Co (NYSE:KLG) has been assigned a consensus rating of “Strong Sell” from the nine analysts that are currently covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $17.89.

Several research firms have commented on KLG. Jefferies Financial Group reduced their price objective on WK Kellogg from $19.00 to $16.00 and set a “hold” rating on the stock in a report on Tuesday, January 28th. Stifel Nicolaus decreased their target price 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. Barclays lowered their price target on WK Kellogg from $19.00 to $16.00 and set an “underweight” rating for the company in a report on Friday, January 17th. Morgan Stanley initiated coverage on shares of WK Kellogg in a research note on Monday. They issued an “underweight” rating and a $18.00 price target for the company. Finally, TD Cowen lowered WK Kellogg from a “hold” rating to a “sell” rating and cut their target price for the stock from $18.00 to $16.00 in a research report on Wednesday, January 8th.

Hedge Funds Weigh In On WK Kellogg

A number of large investors have recently made changes to their positions in KLG. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of WK Kellogg in the fourth quarter worth $25,000. Ancora Advisors LLC lifted its holdings in shares of WK Kellogg by 181.8% during the 4th quarter. Ancora Advisors LLC now owns 1,519 shares of the company’s stock worth $27,000 after acquiring an additional 980 shares during the period. SBI Securities Co. Ltd. bought a new position in WK Kellogg during the fourth quarter worth about $36,000. Wealthfront Advisers LLC acquired a new stake in WK Kellogg in the 4th quarter valued at $44,000. Finally, GAMMA Investing LLC increased its position in shares of WK Kellogg by 49.4% during the 4th quarter. GAMMA Investing LLC now owns 2,823 shares of the company’s stock worth $51,000 after purchasing an additional 933 shares in the last quarter. Institutional investors and hedge funds own 95.74% of the company’s stock.

WK Kellogg Stock Performance

WK Kellogg stock opened at $18.55 on Wednesday. The stock’s 50 day moving average is $18.34 and its 200 day moving average is $18.19. The company has a quick ratio of 0.32, a current ratio of 0.74 and a debt-to-equity ratio of 1.45. The company has a market capitalization of $1.60 billion, a P/E ratio of 22.90, a PEG ratio of 2.01 and a beta of 0.30. WK Kellogg has a twelve month low of $15.17 and a twelve month high of $24.63.

WK Kellogg (NYSE:KLG) last posted its earnings results on Tuesday, February 11th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.14. WK Kellogg had a net margin of 2.66% and a return on equity of 39.81%. On average, equities research analysts predict that WK Kellogg will post 1.57 earnings per share for the current fiscal year.

WK Kellogg Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date was Friday, February 28th. This is an increase from WK Kellogg’s previous quarterly dividend of $0.16. WK Kellogg’s payout ratio is currently 81.48%.

About WK Kellogg

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.