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

WK Kellogg Co (NYSE:KLG) has received a consensus rating of “Strong Sell” from the nine research firms that are covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $17.89.

KLG has been the subject of several analyst reports. Jefferies Financial Group decreased 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. TD Cowen cut shares of WK Kellogg from a “hold” rating to a “sell” rating and cut their price objective for the company from $18.00 to $16.00 in a report on Wednesday, January 8th. Stifel Nicolaus decreased their price objective 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 dropped their target price 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. Finally, Morgan Stanley started coverage on shares of WK Kellogg in a report on Monday, March 24th. They issued an “underweight” rating and a $18.00 price target for the company.

WK Kellogg Price Performance

Shares of NYSE KLG opened at $20.13 on Wednesday. WK Kellogg has a 52 week low of $15.17 and a 52 week high of $24.63. The business’s 50 day moving average price is $18.70 and its 200 day moving average price is $18.24. 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 firm has a market cap of $1.73 billion, a P/E ratio of 24.85, a P/E/G ratio of 2.01 and a beta of 0.29.

WK Kellogg (NYSE:KLG) last released its quarterly earnings data on Tuesday, February 11th. The company reported $0.42 EPS for the quarter, beating the consensus estimate 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, sell-side analysts expect that WK Kellogg will post 1.57 earnings per share for the current year.

WK Kellogg Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a dividend of $0.165 per share. The ex-dividend date of this dividend was Friday, February 28th. This is a positive change from WK Kellogg’s previous quarterly dividend of $0.16. This represents a $0.66 dividend on an annualized basis and a yield of 3.28%. WK Kellogg’s payout ratio is presently 81.48%.

Institutional Trading of WK Kellogg

A number of hedge funds have recently bought and sold shares of the business. Truist Financial Corp grew its position in shares of WK Kellogg by 2.2% in the fourth quarter. Truist Financial Corp now owns 39,658 shares of the company’s stock valued at $713,000 after purchasing an additional 838 shares in the last quarter. GAMMA Investing LLC boosted its stake in WK Kellogg by 49.4% during the fourth quarter. GAMMA Investing LLC now owns 2,823 shares of the company’s stock worth $51,000 after buying an additional 933 shares during the last quarter. Ancora Advisors LLC grew its holdings in WK Kellogg by 181.8% in the 4th quarter. Ancora Advisors LLC now owns 1,519 shares of the company’s stock valued at $27,000 after buying an additional 980 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of WK Kellogg by 3.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,338 shares of the company’s stock worth $672,000 after acquiring an additional 1,339 shares during the last quarter. Finally, Halbert Hargrove Global Advisors LLC purchased a new position in shares of WK Kellogg during the 4th quarter worth $25,000. Institutional investors and hedge funds own 95.74% of the company’s stock.

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.