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

WK Kellogg (NYSE:KLG) announced its 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 Trading Down 0.9 %

Shares of KLG stock traded down $0.15 during mid-day trading on Tuesday, reaching $16.16. The company’s stock had a trading volume of 1,200,879 shares, compared to its average volume of 1,019,200. 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 market capitalization of $1.39 billion, a PE ratio of 20.65 and a beta of 0.70. The company’s 50 day simple moving average is $17.77 and its 200-day simple moving average is $17.70. WK Kellogg has a 12-month low of $12.34 and a 12-month high of $24.63.

WK Kellogg Increases Dividend

The firm also recently disclosed 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 is an increase from WK Kellogg’s previous quarterly dividend of $0.16. This represents a $0.66 annualized dividend and a yield of 4.08%. The ex-dividend date is Friday, February 28th. WK Kellogg’s payout ratio is currently 82.05%.

Insider Buying and Selling

In other news, Director G Zachary Gund bought 65,000 shares of WK Kellogg stock in a transaction dated Thursday, November 14th. The shares were acquired at an average cost of $17.76 per share, with a total value of $1,154,400.00. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on KLG. Stifel Nicolaus decreased their target price 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. 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. TD Cowen lowered WK Kellogg from a “hold” rating to a “sell” rating and dropped their target price for the company from $18.00 to $16.00 in a research note on Wednesday, January 8th. Finally, Barclays lowered their target price on shares of WK Kellogg from $19.00 to $16.00 and set an “underweight” rating for the company in a report on Friday, January 17th. Four equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price 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.