Stifel Nicolaus Raises WK Kellogg (NYSE:KLG) Price Target to $22.00

WK Kellogg (NYSE:KLG) had its target price hoisted by Stifel Nicolaus from $20.00 to $22.00 in a research note published on Wednesday morning, Benzinga reports. They currently have a hold rating on the stock.

Other research analysts also recently issued research reports about the company. BNP Paribas downgraded WK Kellogg from a neutral rating to an underperform rating and set a $20.00 price objective on the stock. in a report on Wednesday. Barclays increased their price objective on WK Kellogg from $12.00 to $15.00 and gave the company an underweight rating in a report on Friday, April 12th. Three research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $16.55.

WK Kellogg Price Performance

NYSE KLG traded up $0.35 during trading hours on Wednesday, hitting $22.32. 223,369 shares of the company were exchanged, compared to its average volume of 1,127,070. The company has a 50 day moving average of $19.56 and a two-hundred day moving average of $14.94. 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 52-week low of $9.65 and a 52-week high of $24.63.

WK Kellogg (NYSE:KLG) last issued 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 company had revenue of $707.00 million for the quarter, compared to analysts’ expectations of $697.83 million. The business’s revenue for the quarter was down .7% on a year-over-year basis. As a group, research analysts predict that WK Kellogg will post 1.51 EPS for the current year.

WK Kellogg Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be given 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 2.87%.

Institutional Trading of WK Kellogg

A number of hedge funds have recently added to or reduced their stakes in the stock. Kellogg W K Foundation Trust acquired a new stake in WK Kellogg during the 4th quarter worth approximately $177,458,000. Massachusetts Financial Services Co. MA purchased a new position in WK Kellogg in the 4th quarter valued at approximately $18,412,000. Beutel Goodman & Co Ltd. purchased a new position in WK Kellogg in the 4th quarter valued at approximately $13,730,000. London & Capital Asset Management Ltd purchased a new position in WK Kellogg in the 4th quarter valued at approximately $10,363,000. Finally, Private Management Group Inc. purchased a new position in WK Kellogg in the 4th quarter valued at approximately $8,956,000. 95.74% of the stock is owned by institutional investors and hedge funds.

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.