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

WK Kellogg (NYSE:KLG) posted its quarterly earnings data on Tuesday. The company reported $0.42 EPS for the quarter, beating 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 Price Performance

Shares of KLG opened at $16.89 on Wednesday. WK Kellogg has a fifty-two week low of $12.34 and a fifty-two week high of $24.63. The firm’s 50 day moving average price is $17.77 and its 200 day moving average price is $17.70. The company has a quick ratio of 0.34, a current ratio of 0.78 and a debt-to-equity ratio of 1.49. The company has a market cap of $1.45 billion, a P/E ratio of 21.65 and a beta of 0.70.

WK Kellogg Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors 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 3.91%. This is a boost from WK Kellogg’s previous quarterly dividend of $0.16. The ex-dividend date is Friday, February 28th. WK Kellogg’s dividend payout ratio (DPR) is 82.05%.

Analysts Set New Price Targets

KLG has been the subject of several research reports. TD Cowen cut shares of WK Kellogg from a “hold” rating to a “sell” rating and dropped their price objective for the company from $18.00 to $16.00 in a research note on Wednesday, January 8th. Jefferies Financial Group dropped their price target on shares of WK Kellogg from $19.00 to $16.00 and set a “hold” rating for the company in a research note on Tuesday, January 28th. Barclays decreased their price objective on WK Kellogg from $19.00 to $16.00 and set an “underweight” rating on the stock in a report on Friday, January 17th. Finally, Stifel Nicolaus lowered their price target on WK Kellogg from $19.00 to $18.00 and set a “hold” rating for the company in a report on Friday, January 24th. Four investment 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 a consensus target price of $17.88.

Insider Activity

In other news, Director G Zachary Gund bought 65,000 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was purchased at an average price of $17.76 per share, for a total transaction of $1,154,400.00. Following the completion of the purchase, the director now owns 195,000 shares in the company, valued at approximately $3,463,200. This trade represents a 50.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.