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

WK Kellogg (NYSE:KLG) posted its earnings results on Tuesday. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.14, Zacks reports. WK Kellogg had a net margin of 2.50% and a return on equity of 33.41%.

WK Kellogg Stock Up 3.5 %

WK Kellogg stock opened at $16.89 on Wednesday. The stock’s 50 day moving average price is $17.77 and its 200 day moving average price is $17.70. WK Kellogg has a 1-year low of $12.34 and a 1-year high of $24.63. The company has a market cap of $1.45 billion, a PE ratio of 21.65 and a beta of 0.70. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.78 and a quick ratio of 0.34.

WK Kellogg Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.91%. This is an increase from WK Kellogg’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Friday, February 28th. WK Kellogg’s dividend payout ratio is 82.05%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on KLG shares. Jefferies Financial Group cut their target price on shares of WK Kellogg from $19.00 to $16.00 and set a “hold” rating on the stock in a report on Tuesday, January 28th. TD Cowen cut shares of WK Kellogg from a “hold” rating to a “sell” rating and reduced their target price for the company from $18.00 to $16.00 in a report on Wednesday, January 8th. 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, Barclays dropped their target price on WK Kellogg from $19.00 to $16.00 and set an “underweight” rating on the stock in a report on Friday, January 17th. Four research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $17.88.

Insiders Place Their Bets

In other news, Director G Zachary Gund bought 65,000 shares of the firm’s stock in a transaction on Thursday, November 14th. The shares were bought at an average cost of $17.76 per share, for a total transaction of $1,154,400.00. Following the completion of the transaction, the director now owns 195,000 shares in the company, valued at $3,463,200. This trade represents a 50.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.90% of the stock is currently owned by company insiders.

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.