WK Kellogg Co Announces Quarterly Dividend of $0.16 (NYSE:KLG)

WK Kellogg Co (NYSE:KLG) declared a quarterly dividend on Thursday, October 31st, RTT News reports. Shareholders of record on Friday, November 29th will be paid a dividend of 0.16 per share on Friday, December 13th. This represents a $0.64 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date is Friday, November 29th.

WK Kellogg has a payout ratio of 42.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect WK Kellogg to earn $1.50 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 42.7%.

WK Kellogg Stock Performance

Shares of WK Kellogg stock opened at $16.73 on Friday. The company has a market capitalization of $1.44 billion and a PE ratio of 11.95. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.36 and a current ratio of 0.83. The company has a 50-day simple moving average of $17.53 and a two-hundred day simple moving average of $18.32. WK Kellogg has a one year low of $9.82 and a one year high of $24.63.

WK Kellogg (NYSE:KLG) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.06). WK Kellogg had a net margin of 4.45% and a return on equity of 42.12%. The company had revenue of $672.00 million for the quarter, compared to analyst estimates of $671.50 million. The business’s quarterly revenue was down 4.0% compared to the same quarter last year. Research analysts expect that WK Kellogg will post 1.5 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. cut their price target on shares of WK Kellogg from $22.00 to $17.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Barclays cut their price target on shares of WK Kellogg from $19.00 to $16.00 and set an “underweight” rating on the stock in a report on Friday, July 19th. Bank of America downgraded shares of WK Kellogg from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $24.00 to $17.00 in a report on Wednesday, July 10th. Finally, Stifel Nicolaus cut their price target on shares of WK Kellogg from $22.00 to $18.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. Three investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat, WK Kellogg currently has an average rating of “Hold” and a consensus price target of $18.50.

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.