WK Kellogg (NYSE:KLG) Price Target Raised to $15.00 at Barclays

WK Kellogg (NYSE:KLG) had its target price upped by Barclays from $12.00 to $15.00 in a research report released on Friday morning, Benzinga reports. Barclays currently has an underweight rating on the stock.

Other research analysts have also issued reports about the stock. Morgan Stanley initiated coverage on shares of WK Kellogg in a research report on Thursday, December 14th. They set an equal weight rating and a $13.00 price target on the stock. Stifel Nicolaus raised their price target on shares of WK Kellogg from $11.00 to $13.00 and gave the company a hold rating in a research report on Thursday, January 25th. Two research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat, WK Kellogg currently has an average rating of Hold and a consensus price target of $12.75.

WK Kellogg Stock Up 0.2 %

WK Kellogg stock opened at $20.97 on Friday. WK Kellogg has a 1-year low of $9.65 and a 1-year high of $22.08. The firm has a fifty day simple moving average of $16.52. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.43 and a current ratio of 0.84.

WK Kellogg (NYSE:KLG) last released its quarterly earnings results on Tuesday, February 13th. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.03). The company had revenue of $651.00 million for the quarter, compared to the consensus estimate of $645.87 million. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year. Analysts anticipate that WK Kellogg will post 1.51 earnings per share for the current fiscal year.

WK Kellogg Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.16 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.64 annualized dividend and a dividend yield of 3.05%.

Hedge Funds Weigh In On WK Kellogg

Large investors have recently modified their holdings of the business. Eukles Asset Management purchased a new position in shares of WK Kellogg in the fourth quarter worth about $25,000. Canal Insurance CO purchased a new position in shares of WK Kellogg in the fourth quarter worth about $26,000. Toth Financial Advisory Corp purchased a new position in shares of WK Kellogg in the fourth quarter worth about $26,000. Benjamin F. Edwards & Company Inc. purchased a new position in shares of WK Kellogg in the fourth quarter worth about $26,000. Finally, Mango Five Family Inc. purchased a new position in shares of WK Kellogg in the fourth quarter worth about $26,000. 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.