Wall Street Zen Upgrades WK Kellogg (NYSE:KLG) to Hold

WK Kellogg (NYSE:KLG) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Sunday.

Other research analysts also recently issued reports about the company. Morgan Stanley started coverage on WK Kellogg in a research note on Monday, March 24th. They set an “underweight” rating and a $18.00 target price on the stock. Evercore ISI boosted their price target on WK Kellogg from $19.00 to $23.00 and gave the company an “in-line” rating in a research note on Friday. Finally, Cowen upgraded WK Kellogg from a “sell” rating to a “hold” rating in a research note on Friday. Three analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $17.71.

WK Kellogg Trading Up 0.1%

KLG opened at $22.88 on Friday. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of 35.75, a PEG ratio of 2.50 and a beta of 0.23. The company has a current ratio of 0.78, a quick ratio of 0.34 and a debt-to-equity ratio of 1.54. WK Kellogg has a 12 month low of $14.80 and a 12 month high of $22.96. The stock has a fifty day moving average price of $16.95 and a 200-day moving average price of $17.86.

WK Kellogg (NYSE:KLG) last announced its earnings results on Tuesday, May 6th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.21). WK Kellogg had a return on equity of 34.88% and a net margin of 2.14%. The business had revenue of $667.00 million for the quarter, compared to analysts’ expectations of $677.91 million. During the same quarter last year, the firm earned $0.37 earnings per share. The firm’s quarterly revenue was down 6.2% compared to the same quarter last year. As a group, equities research analysts anticipate that WK Kellogg will post 1.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On WK Kellogg

Hedge funds have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted its position in WK Kellogg by 11.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,240,046 shares of the company’s stock worth $22,308,000 after purchasing an additional 127,488 shares in the last quarter. Victory Capital Management Inc. boosted its position in WK Kellogg by 1,217.5% during the fourth quarter. Victory Capital Management Inc. now owns 233,997 shares of the company’s stock worth $4,210,000 after purchasing an additional 216,236 shares in the last quarter. Royce & Associates LP boosted its position in WK Kellogg by 46.0% during the fourth quarter. Royce & Associates LP now owns 105,134 shares of the company’s stock worth $1,891,000 after purchasing an additional 33,147 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in WK Kellogg during the fourth quarter worth approximately $273,000. Finally, Amundi boosted its position in WK Kellogg by 2,471.1% during the fourth quarter. Amundi now owns 119,068 shares of the company’s stock worth $2,142,000 after purchasing an additional 114,437 shares in the last quarter. Hedge funds and other institutional investors own 95.74% of the company’s stock.

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.