Stifel Nicolaus Boosts WK Kellogg (NYSE:KLG) Price Target to $20.00

WK Kellogg (NYSE:KLG) had its price target upped by Stifel Nicolaus from $13.00 to $20.00 in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has a hold rating on the stock.

Separately, Barclays raised their price objective on WK Kellogg from $12.00 to $15.00 and gave the stock an underweight rating in a research note on Friday, April 12th. Two investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $13.45.

WK Kellogg Price Performance

WK Kellogg stock opened at $23.94 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.43 and a debt-to-equity ratio of 1.62. The stock has a 50 day moving average of $18.17 and a 200-day moving average of $14.22. WK Kellogg has a 52 week low of $9.65 and a 52 week high of $24.63.

WK Kellogg (NYSE:KLG) last released its earnings results on Tuesday, February 13th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.03). The firm had revenue of $651.00 million during the quarter, compared to the consensus estimate of $645.87 million. WK Kellogg’s revenue was down 2.7% compared to the same quarter last year. Equities analysts expect that WK Kellogg will post 1.51 earnings per share for the current year.

WK Kellogg Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date was Thursday, February 29th.

Institutional Investors Weigh In On WK Kellogg

A number of hedge funds have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp acquired a new position in shares of WK Kellogg during the third quarter valued at $685,000. Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of WK Kellogg during the third quarter valued at $1,657,000. Diversified Trust Co acquired a new position in shares of WK Kellogg during the fourth quarter valued at $147,000. Daymark Wealth Partners LLC acquired a new position in shares of WK Kellogg during the fourth quarter valued at $976,000. Finally, Nordea Investment Management AB acquired a new position in shares of WK Kellogg during the fourth quarter valued at $2,119,000. 95.74% of the stock is currently 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.