Barclays Boosts WK Kellogg (NYSE:KLG) Price Target to $19.00

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

KLG has been the subject of several other reports. JPMorgan Chase & Co. lowered their price objective 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 decreased their target price on 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 research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $18.88.

WK Kellogg Trading Down 1.5 %

NYSE KLG opened at $17.18 on Monday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.34 and a current ratio of 0.78. WK Kellogg has a fifty-two week low of $10.60 and a fifty-two week high of $24.63. The stock has a market cap of $1.48 billion and a P/E ratio of 22.03. The stock has a 50 day simple moving average of $17.56 and a two-hundred day simple moving average of $18.01.

WK Kellogg (NYSE:KLG) last released its quarterly 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 business had revenue of $689.00 million for the quarter, compared to analysts’ expectations of $674.10 million. During the same quarter in the previous year, the business posted $0.49 earnings per share. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. On average, analysts forecast that WK Kellogg will post 1.49 earnings per share for the current year.

WK Kellogg Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date is Friday, November 29th. WK Kellogg’s dividend payout ratio (DPR) is presently 82.05%.

Insiders Place Their Bets

In other news, Director G Zachary Gund purchased 65,000 shares of the business’s stock in a transaction dated Thursday, November 14th. The shares were purchased at an average price of $17.76 per share, for a total transaction of $1,154,400.00. Following the completion of the acquisition, the director now directly owns 195,000 shares in the company, valued at $3,463,200. This represents a 50.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.90% of the company’s stock.

Institutional Trading of WK Kellogg

A number of institutional investors and hedge funds have recently modified their holdings of KLG. Captrust Financial Advisors boosted its position in shares of WK Kellogg by 12,352.1% during 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 last quarter. AQR Capital Management LLC boosted its holdings in shares of WK Kellogg by 579.1% during the 2nd quarter. AQR Capital Management LLC now owns 1,403,854 shares of the company’s stock valued at $23,107,000 after acquiring an additional 1,197,133 shares during the last quarter. Rodgers Brothers Inc. grew its stake in shares of WK Kellogg by 2,253.3% in the first quarter. Rodgers Brothers Inc. now owns 623,468 shares of the company’s stock worth $11,721,000 after acquiring an additional 596,975 shares during the period. Jupiter Asset Management Ltd. raised its holdings in shares of WK Kellogg by 1,876.1% during the first quarter. Jupiter Asset Management Ltd. now owns 531,108 shares of the company’s stock valued at $9,985,000 after purchasing an additional 504,232 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new position in WK Kellogg during the first quarter valued at approximately $8,998,000. Institutional investors own 95.74% of the company’s stock.

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.