WK Kellogg (NYSE:KLG) PT Raised to $20.00

WK Kellogg (NYSE:KLG) had its price objective raised by stock analysts at Stifel Nicolaus from $13.00 to $20.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “hold” rating on the stock. Stifel Nicolaus’ price target points to a potential downside of 18.33% from the stock’s previous close.

Separately, Barclays lifted their price target on shares of WK Kellogg from $12.00 to $15.00 and gave the stock an “underweight” rating in a research note on Friday, April 12th. Two equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat, WK Kellogg currently has an average rating of “Hold” and an average target price of $13.45.

WK Kellogg Price Performance

Shares of NYSE KLG traded up $0.15 during trading hours on Friday, hitting $24.49. The company’s stock had a trading volume of 330,149 shares, compared to its average volume of 1,126,273. The business has a 50-day simple moving average of $18.00 and a 200-day simple moving average of $14.08. The company has a quick ratio of 0.43, a current ratio of 0.84 and a debt-to-equity ratio of 1.62. WK Kellogg has a 12 month low of $9.65 and a 12 month high of $24.63.

WK Kellogg (NYSE:KLG) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.03). The business had revenue of $651.00 million during the quarter, compared to analyst estimates of $645.87 million. The company’s revenue was down 2.7% compared to the same quarter last year. On average, analysts forecast that WK Kellogg will post 1.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On WK Kellogg

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Alpha Omega Wealth Management LLC grew its position in shares of WK Kellogg by 15.2% in the 1st quarter. Alpha Omega Wealth Management LLC now owns 13,080 shares of the company’s stock worth $246,000 after buying an additional 1,725 shares during the last quarter. Eukles Asset Management acquired a new position in shares of WK Kellogg in the 4th quarter valued at $25,000. Benjamin F. Edwards & Company Inc. acquired a new position in WK Kellogg during the fourth quarter worth $26,000. Toth Financial Advisory Corp acquired a new position in WK Kellogg during the fourth quarter worth $26,000. Finally, Canal Insurance CO purchased a new stake in shares of WK Kellogg during the fourth quarter worth $26,000. 95.74% of the stock is owned by hedge funds and other institutional investors.

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.