The number of Short Interest for WK Kellogg Co (NYSE:KLG – Get Free Report) increased considerably in July. The amount of short interest as of July 15th was 8,000,000 shares, up 6.1% from the sum of 7,540,000 shares as of June 30th. With 1,120,000 shares traded on average per day, the weeks-to-cover ratio is at 7.1 days at the moment. Presently, 12.3% of the stock’s shares are being sold short.
Analyst Upgrades and Downgrades: Short Interest for WK Kellogg Co (KLG) has been the subject of several recent analyst reports. On Wednesday, May 8, TD Cowen raised their price target on the stocks of the business from $13.00 to $24.00 and gave it a “hold” rating in a research note. On the same day, the analysts at Evercore ISI raised their price goal on the same shares from $21.00 to $23.00 and gave the company a “in-line” rating in a research report.
On Friday, July 19, Barclays decreased its price objective for Short Interest for WK Kellogg Co stock from $19.00 to $16.00 and assigned the business a “underweight” rating in a research report. In an analyst report released on Tuesday, July 23, Stifel Nicolaus reduced their price target for WK Kellogg down $22.00 to seventeen dollars and given the stock a “hold” rating. In a report released on Wednesday, May 8, BNP Paribas finally downgraded Short Interest for WK Kellogg Co from a “neutral” rating to a “underperform” one and assigned a $20.00 price target for the business.
Six investment professionals have assigned the firm a hold rating, while four have given the stock a sell rating. As of right now, MarketBeat reports that the business has an average price target of $16.80 and a consensus opinion of “Hold.”
On Wednesday, NYSE KLG started at $17.37. Short Interest for WK Kellogg Co has reached a one-year high of $24.63 and a low of $9.65. The moving average over the last 200 days for the stock is $17.55, while the 50-day moving average is $17.46. The company’s current ratio is 0.84, its quick ratio is 0.43, and its debt-to-equity ratio is 1.53.
The most recent quarterly profits data for Short Interest for WK Kellogg Co (NYSE:KLG – Get Free Report) was disclosed on Tuesday, May 7. The business met the $0.37 consensus projections made by analysts when it announced $0.37 profits per piece for the quarter. In contrast to experts’ projections of $697.83 million, the company’s revenues for the period in question was $707.00 million. Revenue at WK Kellogg’s decreased by.7% from the same period a year prior. For the current calendar year, investment strategists predict that WK Kellogg is going to post earnings per share of 1.54.
Additionally, the business just announced the payment of a quarterly a dividend, which was made on Friday, June 14. Shareholders who were registered on this Friday, May 31st received a $0.16 dividend each. This translates to a dividend the yield of 3.68% and a yearly dividend of $0.64. This Friday, May 31st, was the ex-dividend day.
Lately, major investors have changed the amount of the company they own. In Q4 of FY18, Kellogg W K Foundation Trust invested an extra $177,458,000 in WK Kellogg. In the fourth quarter of the year, Massachusetts Financial Services Co. MA paid $18,412,000 to acquire a new interest in WK Kellogg. Beutel Goodman as well as Co Ltd. invested $13,730,000 in a new position in WK Kellogg during the fourth quarter.
In the second quarter, Bank of New York City Mellon Corp increased its stake in WK Kellogg by 9.3%. After buying 77,262 more shares of the company’s stock in the last recent quarter, Bank of New York City Mellon Corp is currently holding 904,699 shares, valued at $14,891,000. Lastly, in the fourth quarter, London & Capital the Management of Assets Ltd invested an additional $10,363,000 in stocks of Short Interest for WK Kellogg Co. Institutional owners own 95.74 percent of the stock.
Food company WK Kellogg Co. operates in the US, Canada, and the Caribbean. It manufactures, markets, and distributes packaged nutritional products primarily under the trademarks Kashi, Froot Looping, Special K, Frosted Mini-Wheats, and Raisin Bran. In March 2023, the corporation changed its name and logo from the American Cereal Co. to Short Interest for WK Kellogg Co.
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RITES Bonus and Dividend: ₹2.5 delivery authorised in a 1:1 ratio; Q1 revenue and profit decrease