WK Kellogg (NYSE:KLG) Stock Price Expected to Rise, Barclays Analyst Says

WK Kellogg (NYSE:KLG) had its price objective boosted by equities research analysts at Barclays from $16.00 to $23.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Barclays‘s target price suggests a potential upside of 0.52% from the company’s current price.

KLG has been the subject of several other reports. TD Cowen upgraded shares of WK Kellogg from a “sell” rating to a “hold” rating and upped their price target for the company from $14.00 to $23.00 in a research report on Monday. Cowen upgraded shares of WK Kellogg from a “sell” rating to a “hold” rating in a research report on Friday. Wall Street Zen upgraded shares of WK Kellogg from a “sell” rating to a “hold” rating in a research report on Sunday. Evercore ISI increased their price objective on shares of WK Kellogg from $19.00 to $23.00 and gave the stock an “in-line” rating in a research report on Friday. Finally, Morgan Stanley started coverage on shares of WK Kellogg in a research report on Monday, March 24th. They set an “underweight” rating and a $18.00 price objective for the company. Two analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $19.71.

WK Kellogg Trading Up 0.1%

Shares of NYSE KLG opened at $22.88 on Monday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.34 and a current ratio of 0.78. WK Kellogg has a 52-week low of $14.80 and a 52-week high of $22.96. The firm has a 50 day moving average price of $16.95 and a two-hundred day moving average price of $17.86. The stock has a market cap of $1.97 billion, a P/E ratio of 35.75 and a beta of 0.23.

WK Kellogg (NYSE:KLG) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.21). WK Kellogg had a net margin of 2.14% and a return on equity of 34.88%. The business had revenue of $667.00 million during the quarter, compared to analyst estimates of $677.91 million. During the same quarter last year, the company posted $0.37 earnings per share. The company’s revenue was down 6.2% compared to the same quarter last year. As a group, equities analysts forecast that WK Kellogg will post 1.57 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. boosted its stake in WK Kellogg by 11.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,240,046 shares of the company’s stock worth $22,308,000 after acquiring an additional 127,488 shares in the last quarter. Royce & Associates LP boosted its stake in WK Kellogg by 46.0% during the fourth quarter. Royce & Associates LP now owns 105,134 shares of the company’s stock worth $1,891,000 after acquiring an additional 33,147 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in WK Kellogg during the fourth quarter worth $273,000. Amundi boosted its stake in WK Kellogg by 2,471.1% during the fourth quarter. Amundi now owns 119,068 shares of the company’s stock worth $2,142,000 after acquiring an additional 114,437 shares in the last quarter. Finally, Exchange Traded Concepts LLC bought a new position in WK Kellogg during the first quarter worth $1,892,000. 95.74% of the stock is owned by 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.