WK Kellogg (NYSE:KLG) Price Target Raised to $24.00 at TD Cowen

WK Kellogg (NYSE:KLG) had its price target upped by TD Cowen from $13.00 to $24.00 in a research report released on Wednesday, Benzinga reports. They currently have a hold rating on the stock.

A number of other research analysts have also recently commented on KLG. Evercore ISI upped their price target on shares of WK Kellogg from $21.00 to $23.00 and gave the stock an in-line rating in a report on Wednesday. Barclays upped 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. BNP Paribas lowered shares of WK Kellogg from a neutral rating to an underperform rating and set a $20.00 price objective for the company. in a research note on Wednesday. Finally, Stifel Nicolaus boosted their price target on shares of WK Kellogg from $20.00 to $22.00 and gave the company a hold rating in a report on Wednesday. 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 company currently has a consensus rating of Hold and a consensus price target of $16.95.

WK Kellogg Stock Up 1.0 %

Shares of KLG stock traded up $0.23 during trading hours on Wednesday, reaching $22.20. 1,295,181 shares of the stock were exchanged, compared to its average volume of 1,139,482. WK Kellogg has a 12-month low of $9.65 and a 12-month high of $24.63. The company’s 50-day moving average price is $19.56 and its 200-day moving average price is $14.94. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.84 and a quick ratio of 0.43.

WK Kellogg (NYSE:KLG) last announced its earnings results on Tuesday, May 7th. The company reported $0.37 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.37. The business had revenue of $707.00 million for the quarter, compared to analysts’ expectations of $697.83 million. The business’s revenue was down .7% compared to the same quarter last year. Analysts expect 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 will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.88%. The ex-dividend date of this dividend is Friday, May 31st.

Institutional Investors Weigh In On WK Kellogg

A number of large investors have recently modified their holdings of the business. Eukles Asset Management acquired a new stake in WK Kellogg in the 4th quarter worth approximately $25,000. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of WK Kellogg during the fourth quarter worth $26,000. Toth Financial Advisory Corp acquired a new position in shares of WK Kellogg in the 4th quarter valued at $26,000. Canal Insurance CO purchased a new position in WK Kellogg in the 4th quarter worth $26,000. Finally, Brown Brothers Harriman & Co. acquired a new stake in WK Kellogg during the 4th quarter worth about $27,000. Hedge funds and other institutional investors own 95.74% of the company’s stock.

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.