WK Kellogg Co (NYSE:KLG) Given Consensus Rating of “Reduce” by Brokerages

Shares of WK Kellogg Co (NYSE:KLG) have been given a consensus rating of “Reduce” by the eight ratings firms that are covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $18.88.

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. cut their target price on WK Kellogg from $22.00 to $17.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Barclays lifted their price objective on WK Kellogg from $16.00 to $19.00 and gave the company an “underweight” rating in a research note on Monday, November 11th.

WK Kellogg Price Performance

Shares of KLG opened at $20.19 on Thursday. The company has a 50 day moving average of $17.50 and a two-hundred day moving average of $17.67. 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 twelve month low of $10.99 and a twelve month high of $24.63. The company has a market cap of $1.74 billion and a price-to-earnings ratio of 25.88.

WK Kellogg (NYSE:KLG) last posted its quarterly earnings data 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. WK Kellogg had a return on equity of 33.41% and a net margin of 2.50%. The firm had revenue of $689.00 million during the quarter, compared to analysts’ expectations of $674.10 million. During the same quarter last year, the firm earned $0.49 EPS. The business’s quarterly revenue was down .4% on a year-over-year basis. As a group, analysts predict that WK Kellogg will post 1.49 earnings per share for the current fiscal year.

WK Kellogg Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a $0.16 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.64 annualized dividend and a dividend yield of 3.17%. WK Kellogg’s dividend payout ratio (DPR) is presently 82.05%.

Insider Buying and Selling

In related news, Director G Zachary Gund purchased 65,000 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was acquired at an average cost of $17.76 per share, for a total transaction of $1,154,400.00. Following the completion of the transaction, the director now directly owns 195,000 shares of the company’s stock, valued at approximately $3,463,200. This trade represents a 50.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.90% of the stock is owned by company insiders.

Institutional Trading of WK Kellogg

Several large investors have recently added to or reduced their stakes in the stock. Alpha Omega Wealth Management LLC increased its position in shares of WK Kellogg by 4.9% during the 3rd quarter. Alpha Omega Wealth Management LLC now owns 12,880 shares of the company’s stock worth $220,000 after purchasing an additional 600 shares during the last quarter. GAMMA Investing LLC boosted its holdings in WK Kellogg by 88.6% in the third quarter. GAMMA Investing LLC now owns 1,890 shares of the company’s stock valued at $32,000 after purchasing an additional 888 shares during the period. Ancora Advisors LLC grew its stake in WK Kellogg by 0.5% during the 1st quarter. Ancora Advisors LLC now owns 318,596 shares of the company’s stock worth $5,990,000 after purchasing an additional 1,550 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in WK Kellogg by 15.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,638 shares of the company’s stock worth $276,000 after purchasing an additional 2,009 shares during the period. Finally, EntryPoint Capital LLC acquired a new stake in WK Kellogg in the 1st quarter valued at about $42,000. 95.74% of the stock is currently owned by hedge funds and other institutional investors.

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.