WK Kellogg (NYSE:KLG – Get Free Report) was downgraded by investment analysts at Bank of America from a “neutral” rating to an “underperform” rating in a research report issued on Wednesday, Marketbeat reports. They currently have a $17.00 price target on the stock, down from their previous price target of $24.00. Bank of America‘s price objective would indicate a potential upside of 6.12% from the stock’s previous close.
A number of other brokerages have also recently weighed in on KLG. Evercore ISI raised their price target on WK Kellogg from $21.00 to $23.00 and gave the company an “in-line” rating in a research report on Wednesday, May 8th. Stifel Nicolaus raised their price target on WK Kellogg from $20.00 to $22.00 and gave the company a “hold” rating in a research report on Wednesday, May 8th. BNP Paribas lowered WK Kellogg from a “neutral” rating to an “underperform” rating and set a $20.00 price objective on the stock. in a research note on Wednesday, May 8th. TD Cowen increased their price objective on WK Kellogg from $13.00 to $24.00 and gave the company a “hold” rating in a research note on Wednesday, May 8th. Finally, Barclays increased their price objective on WK Kellogg from $15.00 to $19.00 and gave the company an “underweight” rating in a research note on Thursday, May 9th. Four research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, WK Kellogg presently has a consensus rating of “Hold” and a consensus target price of $17.50.
Read Our Latest Stock Analysis on WK Kellogg
WK Kellogg Trading Up 1.5 %
WK Kellogg (NYSE:KLG – Get Free Report) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.37 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.37. The firm had revenue of $707.00 million during the quarter, compared to analysts’ expectations of $697.83 million. The business’s quarterly revenue was down .7% compared to the same quarter last year. As a group, equities research analysts forecast that WK Kellogg will post 1.54 earnings per share for the current fiscal year.
Institutional Trading of WK Kellogg
A number of hedge funds have recently added to or reduced their stakes in the business. Kellogg W K Foundation Trust acquired a new stake in WK Kellogg in the 4th quarter worth about $177,458,000. Massachusetts Financial Services Co. MA acquired a new position in shares of WK Kellogg in the 4th quarter valued at about $18,412,000. Beutel Goodman & Co Ltd. acquired a new position in shares of WK Kellogg in the 4th quarter valued at about $13,730,000. London & Capital Asset Management Ltd acquired a new position in shares of WK Kellogg in the 4th quarter valued at about $10,363,000. Finally, Private Management Group Inc. acquired a new position in shares of WK Kellogg in the 4th quarter valued at about $8,956,000. 95.74% of the stock is owned by institutional investors and hedge funds.
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.
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