Barclays Forecasts Strong Price Appreciation for WK Kellogg (NYSE:KLG) Stock

WK Kellogg (NYSE:KLG) had its price objective boosted by Barclays from $16.00 to $19.00 in a research note published on Monday morning,Benzinga reports. They currently have an underweight rating on the stock.

A number of other brokerages also recently issued reports on KLG. JPMorgan Chase & Co. cut their price target on shares of WK Kellogg from $22.00 to $17.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Stifel Nicolaus dropped their target price on shares of WK Kellogg from $22.00 to $18.00 and set a “hold” rating for the company in a research report on Tuesday, July 23rd. Three investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Based on data from MarketBeat, WK Kellogg has a consensus rating of “Hold” and a consensus target price of $18.88.

WK Kellogg Stock Performance

NYSE KLG opened at $17.84 on Monday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.36 and a current ratio of 0.78. The firm has a market capitalization of $1.54 billion and a P/E ratio of 23.09. The stock’s fifty day moving average is $17.54 and its two-hundred day moving average is $18.06. WK Kellogg has a fifty-two week low of $10.33 and a fifty-two week high of $24.63.

WK Kellogg (NYSE:KLG) last issued its earnings results on Thursday, November 7th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.05. WK Kellogg had a net margin of 2.50% and a return on equity of 33.41%. The firm had revenue of $689.00 million for the quarter, compared to analysts’ expectations of $674.10 million. During the same quarter last year, the company earned $0.49 earnings per share. The firm’s revenue was down .4% compared to the same quarter last year. On average, research analysts anticipate that WK Kellogg will post 1.52 earnings per share for the current year.

WK Kellogg Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.59%. The ex-dividend date of this dividend is Friday, November 29th. WK Kellogg’s dividend payout ratio is currently 82.05%.

Hedge Funds Weigh In On WK Kellogg

Institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC raised its stake in shares of WK Kellogg by 88.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,890 shares of the company’s stock valued at $32,000 after buying an additional 888 shares in the last quarter. EntryPoint Capital LLC acquired a new position in shares of WK Kellogg in the 1st quarter valued at $42,000. Rothschild Investment LLC bought a new position in WK Kellogg during the second quarter worth about $46,000. Abich Financial Wealth Management LLC raised its holdings in WK Kellogg by 3,575.4% in the third quarter. Abich Financial Wealth Management LLC now owns 4,484 shares of the company’s stock worth $77,000 after purchasing an additional 4,362 shares during the period. Finally, International Assets Investment Management LLC lifted its holdings in shares of WK Kellogg by 1,724.1% during the 3rd quarter. International Assets Investment Management LLC now owns 4,688 shares of the company’s stock valued at $80,000 after purchasing an additional 4,431 shares in the last quarter. 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.