BNP Paribas lowered shares of WK Kellogg (NYSE:KLG – Free Report) from a neutral rating to an underperform rating in a research note published on Wednesday, MarketBeat.com reports. The firm currently has $20.00 price target on the stock.
Other research analysts have also recently issued reports about the company. Barclays boosted their target price on WK Kellogg from $12.00 to $15.00 and gave the stock an underweight rating in a research note on Friday, April 12th. Stifel Nicolaus raised their target price on WK Kellogg from $13.00 to $20.00 and gave the stock a hold rating in a research report on Friday, April 26th. Three analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $16.55.
Get Our Latest Stock Report on WK Kellogg
WK Kellogg Stock Down 9.6 %
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 company had revenue of $707.00 million for the quarter, compared to analyst estimates of $697.83 million. The company’s revenue was down .7% compared to the same quarter last year. As a group, analysts expect that WK Kellogg will post 1.51 EPS for the current year.
WK Kellogg Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date is Friday, May 31st.
Hedge Funds Weigh In On WK Kellogg
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Lincoln Capital Corp acquired a new position in WK Kellogg during the fourth quarter worth $1,026,000. Nordea Investment Management AB purchased a new stake in WK Kellogg during the fourth quarter worth about $2,119,000. Inlet Private Wealth LLC acquired a new position in WK Kellogg during the fourth quarter worth about $4,038,000. Oak Thistle LLC purchased a new position in WK Kellogg in the fourth quarter valued at about $1,721,000. Finally, London & Capital Asset Management Ltd acquired a new stake in shares of WK Kellogg during the 4th quarter valued at approximately $10,363,000. 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.
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