Stifel Nicolaus Cuts WK Kellogg (NYSE:KLG) Price Target to $18.00

WK Kellogg (NYSE:KLG) had its price target cut by Stifel Nicolaus from $19.00 to $18.00 in a research note released on Friday,Benzinga reports. They currently have a hold rating on the stock.

Other research analysts also recently issued reports about the company. Barclays reduced their price objective on WK Kellogg from $19.00 to $16.00 and set an “underweight” rating for the company in a research note on Friday, January 17th. TD Cowen cut shares of WK Kellogg from a “hold” rating to a “sell” rating and reduced their target price for the company from $18.00 to $16.00 in a research report on Wednesday, January 8th. Four research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $18.14.

WK Kellogg Stock Performance

KLG opened at $16.95 on Friday. The company has a market cap of $1.46 billion, a price-to-earnings ratio of 21.73 and a beta of 0.72. The firm’s fifty day simple moving average is $18.42 and its two-hundred day simple moving average is $17.66. The company has a quick ratio of 0.34, a current ratio of 0.78 and a debt-to-equity ratio of 1.49. WK Kellogg has a 52-week low of $12.32 and a 52-week high of $24.63.

WK Kellogg (NYSE:KLG) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.05. WK Kellogg had a return on equity of 33.41% and a net margin of 2.50%. The company had revenue of $689.00 million for the quarter, compared to analysts’ expectations of $674.10 million. During the same period in the previous year, the firm posted $0.49 EPS. WK Kellogg’s revenue was down .4% compared to the same quarter last year. Equities analysts anticipate that WK Kellogg will post 1.49 earnings per share for the current fiscal year.

WK Kellogg Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date of this dividend was Friday, November 29th. WK Kellogg’s dividend payout ratio is currently 82.05%.

Insiders Place Their Bets

In other WK Kellogg news, Director G Zachary Gund bought 65,000 shares of the business’s stock in a transaction on Thursday, November 14th. The stock was bought at an average price of $17.76 per share, with a total value of $1,154,400.00. Following the completion of the purchase, the director now directly owns 195,000 shares in the company, valued at $3,463,200. The trade was a 50.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.90% of the stock is owned by insiders.

Hedge Funds Weigh In On WK Kellogg

A number of hedge funds have recently modified their holdings of the business. GAMMA Investing LLC raised its position in WK Kellogg by 88.6% in the third quarter. GAMMA Investing LLC now owns 1,890 shares of the company’s stock valued at $32,000 after purchasing an additional 888 shares during the period. Spire Wealth Management acquired a new stake in shares of WK Kellogg in the fourth quarter valued at $56,000. Abich Financial Wealth Management LLC raised its holdings in shares of WK Kellogg by 3,575.4% in the 3rd quarter. Abich Financial Wealth Management LLC now owns 4,484 shares of the company’s stock valued at $77,000 after buying an additional 4,362 shares during the period. International Assets Investment Management LLC lifted its stake in WK Kellogg by 1,724.1% during the 3rd quarter. International Assets Investment Management LLC now owns 4,688 shares of the company’s stock worth $80,000 after acquiring an additional 4,431 shares in the last quarter. Finally, nVerses Capital LLC purchased a new position in WK Kellogg during the 3rd quarter valued at about $99,000. 95.74% of the stock is currently owned by hedge funds and other 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.