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

WK Kellogg (NYSE:KLG) issued its earnings results 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 return on equity of 33.41% and a net margin of 2.50%.

WK Kellogg Trading Up 5.6 %

NYSE:KLG opened at $17.90 on Thursday. The business’s 50-day moving average is $17.70 and its two-hundred day moving average is $17.70. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.78 and a quick ratio of 0.34. WK Kellogg has a 12 month low of $13.10 and a 12 month high of $24.63. The firm has a market capitalization of $1.54 billion, a PE ratio of 22.95 and a beta of 0.70.

WK Kellogg Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a $0.165 dividend. 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. This represents a $0.66 annualized dividend and a yield of 3.69%. WK Kellogg’s dividend payout ratio (DPR) is 82.05%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Stifel Nicolaus cut their target price 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. Jefferies Financial Group cut their target price on WK Kellogg from $19.00 to $16.00 and set a “hold” rating on the stock in a research report on Tuesday, January 28th. Barclays cut their target price on WK Kellogg from $19.00 to $16.00 and set an “underweight” rating on the stock in a research report on Friday, January 17th. Finally, TD Cowen lowered 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 report 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 data from MarketBeat.com, WK Kellogg has an average rating of “Hold” and an average target price 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.