Barclays Raises WK Kellogg (NYSE:KLG) Price Target to $19.00

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

Other equities research analysts also recently issued reports about the company. TD Cowen raised their price target on WK Kellogg from $13.00 to $24.00 and gave the stock a “hold” rating in a research note on Wednesday. BNP Paribas cut shares of WK Kellogg from a “neutral” rating to an “underperform” rating and set a $20.00 price objective for the company. in a report on Wednesday. Stifel Nicolaus raised their target price on WK Kellogg from $20.00 to $22.00 and gave the company a “hold” rating in a report on Wednesday. Finally, Evercore ISI increased their price objective on WK Kellogg from $21.00 to $23.00 and gave the company an “in-line” rating in a report on Wednesday. Three analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat.com, WK Kellogg currently has a consensus rating of “Hold” and a consensus target price of $16.95.

WK Kellogg Stock Performance

NYSE:KLG traded up $0.41 on Thursday, hitting $22.38. 458,961 shares of the company’s stock traded hands, compared to its average volume of 1,129,246. The firm has a 50-day moving average price of $19.56 and a 200-day moving average price of $14.94. The company has a current ratio of 0.84, a quick ratio of 0.43 and a debt-to-equity ratio of 1.62. WK Kellogg has a 1 year low of $9.65 and a 1 year high of $24.63.

WK Kellogg (NYSE:KLG) last issued its earnings results on Tuesday, May 7th. The company reported $0.37 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.37. The company 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. Sell-side analysts expect that WK Kellogg will post 1.51 EPS for the current fiscal year.

Hedge Funds Weigh In On WK Kellogg

Several institutional investors have recently added to or reduced their stakes in the company. Texas Permanent School Fund Corp boosted its holdings in shares of WK Kellogg by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 57,706 shares of the company’s stock worth $1,085,000 after acquiring an additional 754 shares in the last quarter. Alpha Omega Wealth Management LLC increased its stake in shares of WK Kellogg by 15.2% in the first quarter. Alpha Omega Wealth Management LLC now owns 13,080 shares of the company’s stock valued at $246,000 after buying an additional 1,725 shares in the last quarter. Eukles Asset Management acquired a new position in WK Kellogg during the 4th quarter worth about $25,000. Benjamin F. Edwards & Company Inc. acquired a new stake in WK Kellogg in the 4th quarter valued at about $26,000. Finally, Toth Financial Advisory Corp bought a new position in shares of WK Kellogg in the fourth quarter worth about $26,000. 95.74% of the stock is owned by institutional investors.

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.