WK Kellogg (NYSE:KLG) Earns Underweight Rating from Barclays

WK Kellogg (NYSE:KLG)‘s stock had its “underweight” rating reaffirmed by investment analysts at Barclays in a research note issued on Monday, Marketbeat.com reports. They currently have a $23.00 price objective on the stock, up from their prior price objective of $16.00. Barclays‘s price target would indicate a potential downside of 0.01% from the company’s current price.

A number of other research analysts have also issued reports on KLG. TD Cowen raised WK Kellogg from a “sell” rating to a “hold” rating and lifted their target price for the stock from $14.00 to $23.00 in a report on Monday. Morgan Stanley initiated coverage on WK Kellogg in a research note on Monday, March 24th. They issued an “underweight” rating and a $18.00 price target on the stock. Cowen raised WK Kellogg from a “sell” rating to a “hold” rating in a research note on Friday. Wall Street Zen raised WK Kellogg from a “sell” rating to a “hold” rating in a research note on Sunday. Finally, Evercore ISI raised their price objective on WK Kellogg from $19.00 to $23.00 and gave the stock an “in-line” rating in a research report on Friday. Two research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $19.71.

WK Kellogg Price Performance

Shares of KLG opened at $23.00 on Monday. The stock’s fifty day moving average is $17.06 and its 200-day moving average is $17.89. WK Kellogg has a one year low of $14.80 and a one year high of $23.07. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of 35.94 and a beta of 0.23. 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 (NYSE:KLG) last released its earnings results on Tuesday, May 6th. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.21). The firm had revenue of $667.00 million for the quarter, compared to analyst estimates of $677.91 million. WK Kellogg had a return on equity of 34.88% and a net margin of 2.14%. WK Kellogg’s revenue was down 6.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.37 earnings per share. Equities analysts anticipate that WK Kellogg will post 1.57 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in KLG. Ancora Advisors LLC increased its position in WK Kellogg by 181.8% in the 4th quarter. Ancora Advisors LLC now owns 1,519 shares of the company’s stock worth $27,000 after buying an additional 980 shares during the period. Wealthfront Advisers LLC bought a new position in WK Kellogg in the 4th quarter worth approximately $44,000. Curat Global LLC bought a new stake in shares of WK Kellogg during the first quarter valued at approximately $66,000. Summit Securities Group LLC bought a new stake in shares of WK Kellogg during the fourth quarter valued at approximately $70,000. Finally, Whittier Trust Co. of Nevada Inc. increased its position in shares of WK Kellogg by 1,030.8% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 3,675 shares of the company’s stock valued at $73,000 after purchasing an additional 3,350 shares during the period. 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.