WK Kellogg (NYSE:KLG) Issues Earnings Results

WK Kellogg (NYSE:KLG - Get Free Report) released its quarterly earnings data on Tuesday. The company reported $0.42 earnings per share for the quarter, topping 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 9.3 %

WK Kellogg stock traded up $1.69 during midday trading on Friday, reaching $19.80. The stock had a trading volume of 3,342,764 shares, compared to its average volume of 1,196,261. The stock has a market capitalization of $1.70 billion, a P/E ratio of 25.44 and a beta of 0.70. The firm's fifty day simple moving average is $17.59 and its 200-day simple moving average is $17.70. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.34 and a current ratio of 0.78. WK Kellogg has a 1-year low of $14.33 and a 1-year high of $24.63.

WK Kellogg Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a dividend of $0.165 per share. The ex-dividend date is Friday, February 28th. This is an increase from WK Kellogg's previous quarterly dividend of $0.16. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.33%. WK Kellogg's dividend payout ratio (DPR) is presently 81.48%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Stifel Nicolaus reduced their price target on shares of 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 reduced their target price for the stock from $18.00 to $16.00 in a report on Wednesday, January 8th. Jefferies Financial Group lowered their price target on WK Kellogg from $19.00 to $16.00 and set a "hold" rating for the company in a report on Tuesday, January 28th. Finally, Barclays cut 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 assigned a hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $17.88.

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.