WK Kellogg (NYSE:KLG) Releases 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 (EPS) for the quarter, topping analysts’ consensus estimates 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 Price Performance

Shares of NYSE:KLG opened at $17.90 on Thursday. The business’s fifty day moving average price is $17.70 and its two-hundred day moving average price is $17.70. The stock has a market cap of $1.54 billion, a PE ratio of 22.95 and a beta of 0.70. 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 has a one year low of $13.10 and a one year high of $24.63.

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 3.69%. The ex-dividend date is Friday, February 28th. This is a boost from WK Kellogg’s previous quarterly dividend of $0.16. WK Kellogg’s dividend payout ratio is 82.05%.

Analysts Set New Price Targets

KLG has been the subject of a number of analyst reports. TD Cowen downgraded 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. Barclays cut their target price on WK Kellogg from $19.00 to $16.00 and set an “underweight” rating for the company in a research note on Friday, January 17th. Stifel Nicolaus lowered their price target on WK Kellogg from $19.00 to $18.00 and set a “hold” rating on the stock in a report on Friday, January 24th. Finally, Jefferies Financial Group lowered their price target on WK Kellogg from $19.00 to $16.00 and set a “hold” rating on the stock in a report on Tuesday, January 28th. Four analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus 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.