Why Investors Found WK Kellogg Stock So Tasty This Week
The market was eager to swallow a giant helping of WK Kellogg (NYSE: KLG) stock this week. Collectively, it traded the specialty food company's shares more than 20% higher over the period, according to data compiled by S&P Global Market Intelligence. Investors liked what they saw in the company's latest quarterly earnings report.
Kellogg released that report on Tuesday, revealing that its net sales for the quarter came in at $651 million. That was nearly 4% below the fourth-quarter 2022 tally of $676 million. On a brighter note, the cereal maker flipped to a net profit of $15 million ($0.18 per share) against a steep $152 million loss one year prior.
While that jump into the black on the bottom line was heartening, it fell just short of the average analyst estimate of $0.21 per share. Conversely, despite the revenue slide, the top line beat the consensus projection of over $646 million.
Source Fool.com
Kellogg Co. Stock
Our community is currently high on Kellogg Co. with 3 Buy predictions and 0 Sell predictions.
With a target price of 69 € there is a positive potential of 20.8% for Kellogg Co. compared to the current price of 57.12 €.
