WK Kellogg (NYSE:KLG) Announces Quarterly Earnings Results

WK Kellogg (NYSE:KLG) announced its quarterly earnings results on Tuesday. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.14, Zacks reports. WK Kellogg had a net margin of 2.50% and a return on equity of 33.41%.

WK Kellogg Stock Up 0.4 %

Shares of KLG traded up $0.06 during midday trading on Tuesday, reaching $16.37. 1,109,707 shares of the stock were exchanged, compared to its average volume of 1,014,589. The company has a current ratio of 0.78, a quick ratio of 0.34 and a debt-to-equity ratio of 1.49. The company has a market capitalization of $1.41 billion, a P/E ratio of 20.99 and a beta of 0.70. The company’s 50 day moving average is $17.88 and its two-hundred day moving average is $17.71. WK Kellogg has a 52 week low of $12.34 and a 52 week high of $24.63.

WK Kellogg Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 4.03%. The ex-dividend date of this dividend is Friday, February 28th. This is an increase from WK Kellogg’s previous quarterly dividend of $0.16. WK Kellogg’s payout ratio is currently 82.05%.

Wall Street Analyst Weigh In

A number of brokerages have commented on KLG. Stifel Nicolaus reduced their price target on WK Kellogg from $19.00 to $18.00 and set a “hold” rating for the company in a research report on Friday, January 24th. Barclays lowered their price target on shares of WK Kellogg from $19.00 to $16.00 and set an “underweight” rating on the stock in a report on Friday, January 17th. TD Cowen downgraded shares of WK Kellogg from a “hold” rating to a “sell” rating and dropped their target price for the stock from $18.00 to $16.00 in a report on Wednesday, January 8th. Finally, Jefferies Financial Group dropped their price objective on WK Kellogg from $19.00 to $16.00 and set a “hold” rating for the company in a research note on Tuesday, January 28th. Four investment analysts have rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat.com, WK Kellogg has a consensus rating of “Hold” and an average target price of $17.88.

Insider Activity

In other WK Kellogg news, Director G Zachary Gund acquired 65,000 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was purchased at an average price of $17.76 per share, for a total transaction of $1,154,400.00. Following the acquisition, the director now owns 195,000 shares in the company, valued at approximately $3,463,200. This trade represents a 50.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.90% 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.