WK Kellogg (NYSE:KLG) Hits New 12-Month High at $22.08

WK Kellogg Co (NYSE:KLG)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as $22.08 and last traded at $22.07, with a volume of 902541 shares. The stock had previously closed at $21.22.

Wall Street Analysts Forecast Growth

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

WK Kellogg Stock Up 8.1 %

The business’s fifty day moving average price is $17.62 and its 200-day moving average price is $13.94. The company has a current ratio of 0.84, a quick ratio of 0.43 and a debt-to-equity ratio of 1.62.

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

WK Kellogg Announces Dividend

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

Institutional Trading of WK Kellogg

Several hedge funds and other institutional investors have recently modified their holdings of the business. Kellogg W K Foundation Trust bought a new stake in shares of WK Kellogg in the fourth quarter valued at approximately $177,458,000. Massachusetts Financial Services Co. MA bought a new stake in WK Kellogg during the 4th quarter worth approximately $18,412,000. Beutel Goodman & Co Ltd. bought a new stake in WK Kellogg during the 4th quarter worth approximately $13,730,000. London & Capital Asset Management Ltd bought a new stake in WK Kellogg during the 4th quarter worth approximately $10,363,000. Finally, Private Management Group Inc. bought a new stake in WK Kellogg during the 4th quarter worth approximately $8,956,000. Institutional investors 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.