WK Kellogg (NYSE:KLG) Given New $24.00 Price Target at TD Cowen

WK Kellogg (NYSE:KLG) had its price target raised by equities research analysts at TD Cowen from $13.00 to $24.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “hold” rating on the stock. TD Cowen’s price objective suggests a potential upside of 6.62% from the stock’s current price.

KLG has been the topic of a number of other reports. Stifel Nicolaus lifted their price objective on WK Kellogg from $20.00 to $22.00 and gave the stock a “hold” rating in a research note on Wednesday. Evercore ISI boosted their price target on shares of WK Kellogg from $21.00 to $23.00 and gave the stock an “in-line” rating in a research report on Wednesday. Barclays increased their price objective on shares of WK Kellogg from $12.00 to $15.00 and gave the stock an “underweight” rating in a research report on Friday, April 12th. Finally, BNP Paribas lowered shares of WK Kellogg from a “neutral” rating to an “underperform” rating and set a $20.00 target price on the stock. in a report on Wednesday. Three research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $16.55.

WK Kellogg Trading Down 7.3 %

KLG traded down $1.76 during trading on Wednesday, reaching $22.51. 967,022 shares of the company’s stock were exchanged, compared to its average volume of 1,127,224. The firm has a fifty day moving average price of $19.42 and a two-hundred day moving average price of $14.89. WK Kellogg has a one year low of $9.65 and a one year high of $24.63. 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 (NYSE:KLG) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $697.83 million. The business’s revenue for the quarter was down .7% compared to the same quarter last year. Equities research analysts expect that WK Kellogg will post 1.51 earnings per share for the current fiscal year.

Institutional Trading of WK Kellogg

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KLG. Kellogg W K Foundation Trust bought a new stake in shares of WK Kellogg during the fourth quarter worth about $177,458,000. Massachusetts Financial Services Co. MA bought a new stake in WK Kellogg during the 4th quarter worth approximately $18,412,000. Beutel Goodman & Co Ltd. purchased a new stake in shares of WK Kellogg in the fourth quarter worth approximately $13,730,000. London & Capital Asset Management Ltd bought a new position in shares of WK Kellogg in the fourth quarter valued at approximately $10,363,000. Finally, Private Management Group Inc. purchased a new stake in WK Kellogg in the 4th quarter valued at $8,956,000. 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.