WK Kellogg (NYSE:KLG) Releases Quarterly Earnings Results, Hits Expectations

WK Kellogg (NYSE:KLG) released its quarterly earnings data on Tuesday. The company reported $0.37 earnings per share for the quarter, hitting the consensus estimate of $0.37, Briefing.com reports. The company had revenue of $707.00 million for the quarter, compared to the consensus estimate of $697.83 million. WK Kellogg’s revenue was down .7% on a year-over-year basis.

WK Kellogg Stock Up 1.6 %

Shares of WK Kellogg stock traded up $0.35 during trading on Thursday, reaching $22.32. The company’s stock had a trading volume of 223,369 shares, compared to its average volume of 1,127,070. The business’s fifty day moving average price is $19.56 and its 200-day moving average price is $14.94. 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 has a one year low of $9.65 and a one year 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 $0.16 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.87%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on KLG shares. Barclays raised their target price on WK Kellogg from $12.00 to $15.00 and gave the stock an “underweight” rating in a research report on Friday, April 12th. BNP Paribas cut WK Kellogg from a “neutral” rating to an “underperform” rating and set a $20.00 target price for the company. in a research report on Wednesday. Stifel Nicolaus raised their target price on WK Kellogg from $20.00 to $22.00 and gave the stock a “hold” rating in a research report on Wednesday. TD Cowen lifted their price objective on WK Kellogg from $13.00 to $24.00 and gave the company a “hold” rating in a research report on Wednesday. Finally, Evercore ISI lifted their price objective on WK Kellogg from $21.00 to $23.00 and gave the company an “in-line” rating in a research report on Wednesday. Three analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus 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.