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

WK Kellogg Co (NYSE:KLG) has been given a consensus recommendation of “Strong Sell” by the seven ratings firms that are presently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a sell rating and three have given a hold rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $18.57.

Several brokerages have recently issued reports on KLG. Barclays lifted their target price on shares of WK Kellogg from $16.00 to $19.00 and gave the company an “underweight” rating in a research report on Monday, November 11th. TD Cowen lowered WK Kellogg from a “hold” rating to a “sell” rating and cut their price objective for the stock from $18.00 to $16.00 in a research note on Wednesday.

Insider Activity at WK Kellogg

In other news, Director G Zachary Gund bought 65,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was purchased at an average price of $17.94 per share, for a total transaction of $1,166,100.00. Following the completion of the purchase, the director now owns 65,000 shares in the company, valued at approximately $1,166,100. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of KLG. Captrust Financial Advisors increased its position in WK Kellogg by 12,352.1% during the third quarter. Captrust Financial Advisors now owns 1,516,417 shares of the company’s stock worth $25,946,000 after buying an additional 1,504,239 shares during the period. Geode Capital Management LLC increased its holdings in shares of WK Kellogg by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,507,713 shares of the company’s stock valued at $25,802,000 after acquiring an additional 38,939 shares during the period. AQR Capital Management LLC raised its position in WK Kellogg by 579.1% in the 2nd quarter. AQR Capital Management LLC now owns 1,403,854 shares of the company’s stock valued at $23,107,000 after purchasing an additional 1,197,133 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position 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 valued at $19,240,000 after purchasing an additional 266,877 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in WK Kellogg by 7.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,112,558 shares of the company’s stock worth $19,036,000 after purchasing an additional 79,808 shares during the period. Institutional investors and hedge funds own 95.74% of the company’s stock.

WK Kellogg Stock Performance

Shares of WK Kellogg stock opened at $16.31 on Friday. The company has a 50 day moving average price of $18.70 and a 200 day moving average price of $17.70. The firm has a market capitalization of $1.40 billion, a P/E ratio of 20.91 and a beta of 0.72. The company has a quick ratio of 0.34, a current ratio of 0.78 and a debt-to-equity ratio of 1.49. WK Kellogg has a 52 week low of $12.32 and a 52 week high of $24.63.

WK Kellogg (NYSE:KLG) last released its earnings results on Thursday, November 7th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.05. The firm 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 company’s revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 earnings per share. Sell-side analysts expect that WK Kellogg will post 1.49 EPS for the current year.

WK Kellogg Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were given a $0.16 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.64 annualized dividend and a yield of 3.92%. WK Kellogg’s dividend payout ratio is presently 82.05%.

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.