WK Kellogg (NYSE:KLG) Price Target Raised to $23.00

WK Kellogg (NYSE:KLG) had its price objective upped by Evercore ISI from $21.00 to $23.00 in a research note published on Wednesday, Benzinga reports. They currently have an in-line rating on the stock.

KLG has been the topic of a number of other research reports. Stifel Nicolaus increased their price objective on WK Kellogg from $20.00 to $22.00 and gave the stock a hold rating in a research report on Wednesday. BNP Paribas cut WK Kellogg from a neutral rating to an underperform rating and set a $20.00 price target on the stock. in a report on Wednesday. Finally, Barclays boosted their price objective on WK Kellogg from $12.00 to $15.00 and gave the stock an underweight rating in a report on Friday, April 12th. Three research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat, WK Kellogg currently has a consensus rating of Hold and an average price target of $16.95.

WK Kellogg Stock Performance

Shares of WK Kellogg stock traded up $0.23 during trading hours on Wednesday, reaching $22.20. The company had a trading volume of 1,295,181 shares, compared to its average volume of 1,139,482. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.84 and a quick ratio of 0.43. WK Kellogg has a one year low of $9.65 and a one year high of $24.63. The business has a fifty day simple moving average of $19.56 and a 200 day simple moving average of $14.94.

WK Kellogg (NYSE:KLG) last posted its earnings results on Tuesday, May 7th. The company reported $0.37 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.37. The firm had revenue of $707.00 million for the quarter, compared to the consensus estimate of $697.83 million. The firm’s revenue was down .7% on a year-over-year basis. Research analysts anticipate that WK Kellogg will post 1.51 earnings per share for the current fiscal year.

WK Kellogg Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be paid a $0.16 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.88%.

Hedge Funds Weigh In On WK Kellogg

A number of large investors have recently added to or reduced their stakes in the business. Lincoln Capital Corp purchased a new stake in WK Kellogg during the fourth quarter valued at about $1,026,000. Nordea Investment Management AB purchased a new stake in WK Kellogg during the 4th quarter valued at about $2,119,000. Inlet Private Wealth LLC bought a new position in WK Kellogg during the 4th quarter worth approximately $4,038,000. Oak Thistle LLC purchased a new position in shares of WK Kellogg in the fourth quarter worth $1,721,000. Finally, London & Capital Asset Management Ltd bought a new stake in WK Kellogg during the 4th quarter valued at $10,363,000. Hedge funds and other institutional investors own 95.74% of the company’s stock.

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.