Jefferies Financial Group Lowers WK Kellogg (NYSE:KLG) Price Target to $16.00

WK Kellogg (NYSE:KLG) had its price objective trimmed by Jefferies Financial Group from $19.00 to $16.00 in a research report report published on Tuesday,Benzinga reports. They currently have a hold rating on the stock.

KLG has been the topic of a number of other reports. Stifel Nicolaus reduced their target price on shares of WK Kellogg from $19.00 to $18.00 and set a “hold” rating on the stock in a research report on Friday, January 24th. Barclays reduced their target price on shares of WK Kellogg from $19.00 to $16.00 and set an “underweight” rating on the stock in a research report on Friday, January 17th. Finally, TD Cowen lowered shares of WK Kellogg from a “hold” rating to a “sell” rating and cut their price objective for the company from $18.00 to $16.00 in a report on Wednesday, January 8th. Four research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $17.88.

WK Kellogg Price Performance

Shares of WK Kellogg stock opened at $17.02 on Tuesday. The company has a current ratio of 0.78, a quick ratio of 0.34 and a debt-to-equity ratio of 1.49. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of 21.82 and a beta of 0.72. WK Kellogg has a 1-year low of $12.32 and a 1-year high of $24.63. The firm’s 50-day moving average price is $18.40 and its two-hundred day moving average price is $17.69.

WK Kellogg (NYSE:KLG) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.05. The firm had revenue of $689.00 million for the quarter, compared to analysts’ expectations of $674.10 million. WK Kellogg had a net margin of 2.50% and a return on equity of 33.41%. The company’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.49 earnings per share. On average, equities analysts predict that WK Kellogg will post 1.49 earnings per share for the current fiscal year.

Insider Activity at WK Kellogg

In other news, Director G Zachary Gund bought 65,000 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were bought at an average cost of $17.76 per share, for a total transaction of $1,154,400.00. Following the completion of the acquisition, the director now owns 195,000 shares in the company, valued at approximately $3,463,200. This trade represents a 50.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On WK Kellogg

Several hedge funds have recently bought and sold shares of KLG. GAMMA Investing LLC raised its holdings in WK Kellogg by 88.6% in the third quarter. GAMMA Investing LLC now owns 1,890 shares of the company’s stock worth $32,000 after purchasing an additional 888 shares during the period. Spire Wealth Management acquired a new stake in WK Kellogg in the fourth quarter worth $56,000. Abich Financial Wealth Management LLC raised its holdings in WK Kellogg by 3,575.4% in the third quarter. Abich Financial Wealth Management LLC now owns 4,484 shares of the company’s stock worth $77,000 after purchasing an additional 4,362 shares during the period. International Assets Investment Management LLC raised its holdings in WK Kellogg by 1,724.1% in the third quarter. International Assets Investment Management LLC now owns 4,688 shares of the company’s stock worth $80,000 after purchasing an additional 4,431 shares during the period. Finally, nVerses Capital LLC bought a new stake in shares of WK Kellogg during the third quarter worth $99,000. 95.74% of the stock is currently owned by institutional investors and hedge funds.

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.