WK Kellogg Co (KLG) To Go Ex-Dividend on February 28th

WK Kellogg Co (NYSE:KLG) declared a quarterly dividend on Thursday, February 6th,Wall Street Journal reports. Stockholders of record on Friday, February 28th will be given a dividend of 0.165 per share on Friday, March 14th. This represents a $0.66 annualized dividend and a dividend yield of 4.01%. The ex-dividend date of this dividend is Friday, February 28th. This is an increase from WK Kellogg’s previous quarterly dividend of $0.16.

WK Kellogg has a 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

Shares of NYSE KLG opened at $16.47 on Friday. WK Kellogg has a 1 year low of $12.32 and a 1 year high of $24.63. 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 company’s fifty day moving average price is $17.96 and its 200 day moving average price is $17.69. The company has a market capitalization of $1.42 billion, a PE ratio of 21.12 and a beta of 0.70.

WK Kellogg (NYSE:KLG) last posted its earnings results on Thursday, November 7th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.05. The business had revenue of $689.00 million for the quarter, compared to analyst estimates of $674.10 million. WK Kellogg had a net margin of 2.50% and a return on equity of 33.41%. The company’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the prior year, the company posted $0.49 EPS. On average, research analysts predict that WK Kellogg will post 1.48 earnings per share for the current year.

Analyst Ratings Changes

KLG has been the topic of several research analyst reports. Jefferies Financial Group dropped 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. Stifel Nicolaus cut their price target on shares of WK Kellogg from $19.00 to $18.00 and set a “hold” rating for the company in a report on Friday, January 24th. Barclays reduced their price objective on shares of WK Kellogg from $19.00 to $16.00 and set an “underweight” rating for the company in a research report on Friday, January 17th. Finally, TD Cowen cut shares of WK Kellogg from a “hold” rating to a “sell” rating and cut their target price for the stock from $18.00 to $16.00 in a research note on Wednesday, January 8th. Four research analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $17.88.

Insider Activity

In other WK Kellogg news, Director G Zachary Gund acquired 65,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was bought at an average price of $17.94 per share, with a total value of $1,166,100.00. Following the purchase, the director now owns 65,000 shares in the company, valued at approximately $1,166,100. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.90% of the company’s stock.

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.