WK Kellogg (NYSE:KLG) Posts Earnings Results

WK Kellogg (NYSE:KLG) posted 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 Price Performance

WK Kellogg stock 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 firm has a market cap of $1.41 billion, a PE ratio of 20.99 and a beta of 0.70. WK Kellogg has a 52 week low of $12.34 and a 52 week high of $24.63. The company’s fifty day moving average is $17.88 and its 200-day moving average is $17.71. 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 Increases Dividend

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

Insider Transactions at WK Kellogg

In other WK Kellogg news, Director G Zachary Gund purchased 65,000 shares of WK Kellogg stock in a transaction on Thursday, November 14th. The shares were acquired at an average cost of $17.76 per share, for a total transaction of $1,154,400.00. Following the completion of the transaction, the director now directly owns 195,000 shares of the company’s stock, valued at approximately $3,463,200. The trade was a 50.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 0.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Stifel Nicolaus decreased their price target on shares of WK Kellogg from $19.00 to $18.00 and set a “hold” rating on the stock in a report on Friday, January 24th. Jefferies Financial Group lowered their price objective on WK Kellogg from $19.00 to $16.00 and set a “hold” rating for the company in a research report on Tuesday, January 28th. TD Cowen lowered shares of WK Kellogg from a “hold” rating to a “sell” rating and reduced their price objective 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 research note on Friday, January 17th. Four analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat.com, WK Kellogg presently has a consensus 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.