WK Kellogg (NYSE:KLG) Given New $19.00 Price Target at Barclays

WK Kellogg (NYSE:KLG) had its price objective boosted by Barclays from $15.00 to $19.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “underweight” rating on the stock. Barclays‘s price objective would suggest a potential downside of 15.10% from the stock’s current price.

KLG has been the topic of a number of other research reports. Evercore ISI boosted their price objective on WK Kellogg from $21.00 to $23.00 and gave the stock an “in-line” rating in a research report on Wednesday. BNP Paribas downgraded shares of WK Kellogg from a “neutral” rating to an “underperform” rating and set a $20.00 target price on the stock. in a research report on Wednesday. TD Cowen upped their price target on shares of WK Kellogg from $13.00 to $24.00 and gave the company a “hold” rating in a research report on Wednesday. Finally, Stifel Nicolaus lifted their price target on shares of WK Kellogg from $20.00 to $22.00 and gave the stock a “hold” rating in a report on Wednesday. Three research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $16.95.

WK Kellogg Stock Performance

KLG stock traded up $0.41 during mid-day trading on Thursday, hitting $22.38. The stock had a trading volume of 458,961 shares, compared to its average volume of 1,129,246. WK Kellogg has a 52 week low of $9.65 and a 52 week high of $24.63. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.84 and a quick ratio of 0.43. The firm 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 quarterly earnings results on Tuesday, May 7th. The company reported $0.37 EPS for the quarter, hitting analysts’ consensus estimates of $0.37. The business had revenue of $707.00 million for the quarter, compared to analyst estimates of $697.83 million. WK Kellogg’s quarterly revenue was down .7% on a year-over-year basis. On average, equities research analysts expect that WK Kellogg will post 1.51 EPS for the current fiscal year.

Institutional Trading of WK Kellogg

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

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.