WK Kellogg (NYSE:KLG) Shares Up 8%

WK Kellogg Co (NYSE:KLG)’s share price shot up 8% on Tuesday . The company traded as high as $23.79 and last traded at $23.78. 957,936 shares were traded during trading, a decline of 15% from the average session volume of 1,128,765 shares. The stock had previously closed at $22.01.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on KLG. Stifel Nicolaus lifted their target price on WK Kellogg from $11.00 to $13.00 and gave the company a “hold” rating in a report on Thursday, January 25th. Barclays boosted their price target on shares of WK Kellogg from $12.00 to $15.00 and gave the company an “underweight” rating in a report on Friday, April 12th. Two analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat, WK Kellogg presently has an average rating of “Hold” and an average target price of $12.75.

WK Kellogg Stock Up 8.1 %

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 has a 50-day moving average of $17.41 and a two-hundred day moving average of $13.85.

WK Kellogg (NYSE:KLG) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.03). The business had revenue of $651.00 million for the quarter, compared to analyst estimates of $645.87 million. WK Kellogg’s quarterly revenue was down 2.7% compared to the same quarter last year. As a group, analysts expect that WK Kellogg Co will post 1.51 EPS for the current year.

WK Kellogg Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $0.16 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.64 dividend on an annualized basis and a yield of 2.69%.

Institutional Investors Weigh In On WK Kellogg

A number of large investors have recently made changes to their positions in the stock. Mackenzie Financial Corp acquired a new position in shares of WK Kellogg during the 3rd quarter worth approximately $685,000. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of WK Kellogg during the 3rd quarter valued at about $1,657,000. Diversified Trust Co bought a new stake in shares of WK Kellogg during the fourth quarter worth approximately $147,000. Daymark Wealth Partners LLC acquired a new position in WK Kellogg during the fourth quarter worth $976,000. Finally, Nordea Investment Management AB bought a new position in WK Kellogg during the fourth quarter worth about $2,119,000. 95.74% of the stock is currently owned by hedge funds and other 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.