WK Kellogg Co (NYSE:KLG) Declares Quarterly Dividend of $0.17

WK Kellogg Co (NYSE:KLG - Get Free Report) declared a quarterly dividend on Thursday, February 6th,Wall Street Journal reports. Shareholders of record on Friday, February 28th will be paid a dividend of 0.165 per share on Friday, March 14th. This represents a $0.66 annualized dividend and a yield of 3.91%. The ex-dividend date of this dividend is Friday, February 28th. This is a positive change from WK Kellogg's previous quarterly dividend of $0.16.

WK Kellogg has a dividend payout ratio of 35.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect WK Kellogg to earn $1.43 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 44.8%.

WK Kellogg Stock Performance

NYSE KLG traded up $0.58 during trading on Tuesday, hitting $16.89. The company's stock had a trading volume of 3,133,904 shares, compared to its average volume of 1,092,996. The company has a quick ratio of 0.34, a current ratio of 0.78 and a debt-to-equity ratio of 1.49. The firm has a 50 day moving average price of $17.77 and a 200 day moving average price of $17.70. The firm has a market cap of $1.45 billion, a P/E ratio of 21.65 and a beta of 0.70. WK Kellogg has a 52 week low of $12.34 and a 52 week high of $24.63.

WK Kellogg (NYSE:KLG - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.28 by $0.14. WK Kellogg had a return on equity of 33.41% and a net margin of 2.50%. Equities research analysts forecast that WK Kellogg will post 1.48 earnings per share for the current fiscal year.

Insider Activity at WK Kellogg

In related news, Director G Zachary Gund purchased 65,000 shares of the firm's stock in a transaction that occurred on Thursday, November 14th. The shares were acquired at an average price of $17.76 per share, with a total value 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 represents a 50.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Stifel Nicolaus dropped their price target on WK Kellogg from $19.00 to $18.00 and set a "hold" rating on the stock in a research report on Friday, January 24th. TD Cowen lowered WK Kellogg from a "hold" rating to a "sell" rating and decreased their price objective for the stock from $18.00 to $16.00 in a report on Wednesday, January 8th. Jefferies Financial Group decreased their price objective on WK Kellogg from $19.00 to $16.00 and set a "hold" rating on the stock in a report on Tuesday, January 28th. Finally, Barclays decreased their price objective on WK Kellogg from $19.00 to $16.00 and set an "underweight" rating on the stock in a report on Friday, January 17th. Four research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $17.88.

About WK Kellogg

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.