BNP Paribas Downgrades WK Kellogg (NYSE:KLG) to Underperform

BNP Paribas lowered shares of WK Kellogg (NYSE:KLG) from a neutral rating to an underperform rating in a research note published on Wednesday, Marketbeat.com reports. BNP Paribas currently has $20.00 price target on the stock.

A number of other brokerages have also recently commented on KLG. Barclays lifted their target price on WK Kellogg from $12.00 to $15.00 and gave the stock an underweight rating in a report on Friday, April 12th. Stifel Nicolaus upped their price target on shares of WK Kellogg from $13.00 to $20.00 and gave the company a hold rating in a report on Friday, April 26th. Three analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $16.55.

WK Kellogg Trading Down 9.6 %

Shares of KLG stock opened at $21.95 on Wednesday. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.43 and a current ratio of 0.84. The firm’s 50 day moving average is $19.56 and its 200 day moving average is $14.94. WK Kellogg has a 12-month low of $9.65 and a 12-month high of $24.63.

WK Kellogg (NYSE:KLG) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.37 earnings per share for the quarter, hitting the consensus estimate of $0.37. The business had revenue of $707.00 million during the quarter, compared to the consensus estimate of $697.83 million. The company’s revenue was down .7% compared to the same quarter last year. On average, equities analysts expect 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. This represents a $0.64 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend is Friday, May 31st.

Institutional Investors Weigh In On WK Kellogg

Several large investors have recently bought and sold shares of the stock. Eukles Asset Management purchased a new position in shares of WK Kellogg in the 4th quarter valued at $25,000. Canal Insurance CO purchased a new position in WK Kellogg during the 4th quarter worth approximately $26,000. Toth Financial Advisory Corp acquired a new position in WK Kellogg during the fourth quarter worth approximately $26,000. Benjamin F. Edwards & Company Inc. purchased a new stake in WK Kellogg in the fourth quarter valued at approximately $26,000. Finally, Brown Brothers Harriman & Co. acquired a new stake in shares of WK Kellogg in the fourth quarter valued at approximately $27,000. Hedge funds and other 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.