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

WK Kellogg Co (NYSE:KLG) declared a quarterly dividend on Thursday, May 2nd, Zacks reports. Stockholders of record on Friday, May 31st will be given a dividend of 0.16 per share on Friday, June 14th. This represents a $0.64 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend is Friday, May 31st.

WK Kellogg Trading Down 2.4 %

NYSE:KLG traded down $0.57 during mid-day trading on Friday, hitting $23.20. The company had a trading volume of 1,047,375 shares, compared to its average volume of 1,127,465. The business’s fifty day moving average is $19.05 and its two-hundred day moving average is $14.63. WK Kellogg has a fifty-two week low of $9.65 and a fifty-two week high of $24.63. The company has a current ratio of 0.84, a quick ratio of 0.43 and a debt-to-equity ratio of 1.62.

WK Kellogg (NYSE:KLG) last posted its earnings results on Tuesday, February 13th. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.03). The business had revenue of $651.00 million during the quarter, compared to analysts’ expectations of $645.87 million. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year. On average, equities research analysts forecast that WK Kellogg will post 1.51 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

KLG has been the topic of a number of research reports. Stifel Nicolaus lifted their price target on shares of WK Kellogg from $13.00 to $20.00 and gave the company a “hold” rating in a research note on Friday, April 26th. Barclays boosted their price objective on shares of WK Kellogg from $12.00 to $15.00 and gave the company an “underweight” rating in a research report on Friday, April 12th. Two analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $13.45.

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.