WK Kellogg (NYSE:KLG) Posts Quarterly Earnings Results, Beats Expectations By $0.14 EPS

WK Kellogg (NYSE:KLG) posted its quarterly earnings results on Tuesday. The company reported $0.42 EPS 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 Down 0.9 %

Shares of KLG stock traded down $0.15 during trading on Tuesday, hitting $16.16. 1,200,879 shares of the company were exchanged, compared to its average volume of 1,019,200. The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of 20.65 and a beta of 0.70. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.34 and a current ratio of 0.78. The business’s 50-day simple moving average is $17.77 and its 200 day simple moving average is $17.70. WK Kellogg has a twelve month low of $12.34 and a twelve month high of $24.63.

WK Kellogg Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders 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 yield of 4.08%. The ex-dividend date of this dividend is Friday, February 28th. This is a boost from WK Kellogg’s previous quarterly dividend of $0.16. WK Kellogg’s payout ratio is 82.05%.

Analyst Ratings Changes

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

Insiders Place Their Bets

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