WK Kellogg (NYSE:KLG) Price Target Raised to $22.00 at Stifel Nicolaus

WK Kellogg (NYSE:KLG) had its target price lifted by Stifel Nicolaus from $20.00 to $22.00 in a research report sent to investors on Wednesday, Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

A number of other brokerages have also commented on KLG. BNP Paribas lowered WK Kellogg from a neutral rating to an underperform rating and set a $20.00 price target on the stock. in a report on Wednesday. Barclays lifted their target price on WK Kellogg from $12.00 to $15.00 and gave the stock an underweight rating in a report on Friday, April 12th. Three investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $16.55.

WK Kellogg Stock Up 1.6 %

NYSE KLG traded up $0.35 during trading hours on Wednesday, hitting $22.32. The company had a trading volume of 223,369 shares, compared to its average volume of 1,127,070. WK Kellogg has a fifty-two week low of $9.65 and a fifty-two week high of $24.63. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.84 and a quick ratio of 0.43. The business has a fifty day simple moving average of $19.56 and a 200-day simple moving average of $14.94.

WK Kellogg (NYSE:KLG) last issued its earnings results on Tuesday, May 7th. The company reported $0.37 earnings per share for the quarter, hitting the consensus estimate of $0.37. The company had revenue of $707.00 million during the quarter, compared to analyst estimates of $697.83 million. The firm’s revenue was down .7% compared to the same quarter last year. Research analysts predict that WK Kellogg will post 1.51 earnings per share 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 given a $0.16 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.87%.

Hedge Funds Weigh In On WK Kellogg

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sei Investments Co. boosted its position in WK Kellogg by 24.1% during the 1st quarter. Sei Investments Co. now owns 54,901 shares of the company’s stock worth $1,032,000 after acquiring an additional 10,672 shares during the period. Roof Eidam Maycock Peralta LLC acquired a new stake in shares of WK Kellogg during the 1st quarter valued at about $1,073,000. Texas Permanent School Fund Corp lifted its holdings in shares of WK Kellogg by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 57,706 shares of the company’s stock valued at $1,085,000 after buying an additional 754 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of WK Kellogg during the 1st quarter valued at about $2,709,000. Finally, Capstone Investment Advisors LLC acquired a new stake in shares of WK Kellogg during the 1st quarter valued at about $272,000. Institutional investors and hedge funds 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.