WK Kellogg (NYSE:KLG) Posts Quarterly Earnings Results, Meets Expectations

WK Kellogg (NYSE:KLG) issued its quarterly earnings results on Tuesday. The company reported $0.37 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.37, Briefing.com reports. The firm had revenue of $707.00 million for the quarter, compared to analyst estimates of $697.83 million. The company’s revenue for the quarter was down .7% compared to the same quarter last year.

WK Kellogg Trading Down 8.4 %

Shares of WK Kellogg stock traded down $2.04 during trading on Wednesday, hitting $22.23. 1,097,499 shares of the company were exchanged, compared to its average volume of 1,128,370. The company has a current ratio of 0.84, a quick ratio of 0.43 and a debt-to-equity ratio of 1.62. The firm has a 50 day moving average price of $19.42 and a 200 day moving average price of $14.89. WK Kellogg has a fifty-two week low of $9.65 and a fifty-two week high of $24.63.

WK Kellogg Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be paid a dividend of $0.16 per share. The ex-dividend date is Friday, May 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.88%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on KLG shares. Evercore ISI boosted their target price on WK Kellogg from $21.00 to $23.00 and gave the stock an “in-line” rating in a research report on Wednesday. BNP Paribas cut WK Kellogg from a “neutral” rating to an “underperform” rating and set a $20.00 price objective for the company. in a research report on Wednesday. Stifel Nicolaus boosted their target price on shares of WK Kellogg from $20.00 to $22.00 and gave the stock a “hold” rating in a research report on Wednesday. TD Cowen raised their price objective on shares of WK Kellogg from $13.00 to $24.00 and gave the company a “hold” rating in a research note on Wednesday. Finally, Barclays lifted their price target 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. Three investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $16.55.

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.