WK Kellogg Co (NYSE:KLG) Receives Average Recommendation of “Strong Sell” from Brokerages

WK Kellogg Co (NYSE:KLG) has been assigned a consensus recommendation of “Strong Sell” from the nine analysts that are presently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $17.89.

Several equities research analysts recently weighed in on the stock. TD Cowen cut shares of 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 report on Wednesday, January 8th. Jefferies Financial Group dropped their target price on shares of WK Kellogg from $19.00 to $16.00 and set a “hold” rating for the company in a research report on Tuesday, January 28th. Stifel Nicolaus decreased their price objective on shares of WK Kellogg from $19.00 to $18.00 and set a “hold” rating on the stock in a research note on Friday, January 24th. Barclays lowered their price objective on shares of WK Kellogg from $19.00 to $16.00 and set an “underweight” rating for the company in a research report on Friday, January 17th. Finally, Morgan Stanley began coverage on WK Kellogg in a report on Monday, March 24th. They issued an “underweight” rating and a $18.00 target price on the stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of KLG. Capital International Investors increased its holdings in WK Kellogg by 149.8% in the 4th quarter. Capital International Investors now owns 4,186,763 shares of the company’s stock worth $75,320,000 after purchasing an additional 2,510,779 shares in the last quarter. Jupiter Asset Management Ltd. increased its stake in shares of WK Kellogg by 172.9% in the fourth quarter. Jupiter Asset Management Ltd. now owns 2,494,881 shares of the company’s stock valued at $44,883,000 after buying an additional 1,580,704 shares during the period. Captrust Financial Advisors increased its stake in shares of WK Kellogg by 12,352.1% in the third quarter. Captrust Financial Advisors now owns 1,516,417 shares of the company’s stock valued at $25,946,000 after buying an additional 1,504,239 shares during the period. Wellington Management Group LLP bought a new position in WK Kellogg in the 4th quarter valued at approximately $14,737,000. Finally, LSV Asset Management boosted its position in WK Kellogg by 572.9% during the 4th quarter. LSV Asset Management now owns 798,571 shares of the company’s stock worth $14,366,000 after buying an additional 679,888 shares during the period. 95.74% of the stock is currently owned by institutional investors.

WK Kellogg Stock Down 0.5 %

NYSE KLG opened at $19.53 on Wednesday. The company has a current ratio of 0.74, a quick ratio of 0.32 and a debt-to-equity ratio of 1.45. The company has a market cap of $1.68 billion, a price-to-earnings ratio of 24.10, a PEG ratio of 2.01 and a beta of 0.30. The company has a 50 day moving average of $18.56 and a 200-day moving average of $18.22. WK Kellogg has a 1-year low of $15.17 and a 1-year high of $24.63.

WK Kellogg (NYSE:KLG) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.14. WK Kellogg had a return on equity of 39.81% and a net margin of 2.66%. On average, equities research analysts expect that WK Kellogg will post 1.57 earnings per share for the current fiscal year.

WK Kellogg Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date was Friday, February 28th. This is a boost from WK Kellogg’s previous quarterly dividend of $0.16. WK Kellogg’s payout ratio is presently 81.48%.

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.