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

WK Kellogg (NYSE:KLG) had its price target hoisted by equities research analysts at Stifel Nicolaus from $20.00 to $22.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Stifel Nicolaus’ target price suggests a potential downside of 4.80% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on the stock. BNP Paribas cut shares of WK Kellogg from a “neutral” rating to an “underperform” rating and set a $20.00 price target on the stock. in a research note on Wednesday. Barclays lifted their target price on shares of WK Kellogg from $12.00 to $15.00 and gave the company an “underweight” rating in a research report on Friday, April 12th. Three 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 company presently has an average rating of “Hold” and an average target price of $14.25.

WK Kellogg Stock Performance

NYSE KLG traded down $1.16 on Wednesday, hitting $23.11. 190,328 shares of the company’s stock traded hands, compared to its average volume of 1,118,523. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.43 and a current ratio of 0.84. The firm’s 50-day moving average price is $19.42 and its two-hundred day moving average price is $14.89. WK Kellogg has a 1-year low of $9.65 and a 1-year high of $24.63.

WK Kellogg (NYSE:KLG) last released 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 firm had revenue of $707.00 million during the quarter, compared to analysts’ expectations of $697.83 million. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. On average, equities research analysts expect that WK Kellogg will post 1.51 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of KLG. Mackenzie Financial Corp acquired a new stake in shares of WK Kellogg during the 3rd quarter worth approximately $685,000. Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of WK Kellogg in the 3rd quarter valued at $1,657,000. Diversified Trust Co acquired a new stake in shares of WK Kellogg during the 4th quarter worth about $147,000. Daymark Wealth Partners LLC purchased a new stake in WK Kellogg in the 4th quarter valued at about $976,000. Finally, Nordea Investment Management AB acquired a new position in WK Kellogg in the fourth quarter valued at about $2,119,000. 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.