WK Kellogg (NYSE:KLG) Announces Earnings Results

WK Kellogg (NYSE:KLG) issued its earnings results on Thursday. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.05, Briefing.com reports. WK Kellogg had a return on equity of 42.12% and a net margin of 4.45%. The business had revenue of $689.00 million for the quarter, compared to analysts’ expectations of $674.10 million. During the same period in the previous year, the firm posted $0.49 EPS. The business’s revenue for the quarter was down .4% compared to the same quarter last year. WK Kellogg updated its FY 2024 guidance to EPS.

WK Kellogg Stock Performance

Shares of KLG stock opened at $18.05 on Friday. WK Kellogg has a one year low of $10.11 and a one year high of $24.63. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.36 and a current ratio of 0.83. The firm’s 50 day moving average price is $17.52 and its 200-day moving average price is $18.15. The firm has a market cap of $1.55 billion and a P/E ratio of 12.89.

WK Kellogg Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date of this dividend is Friday, November 29th. WK Kellogg’s dividend payout ratio (DPR) is 45.71%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Barclays cut their target price on WK Kellogg from $19.00 to $16.00 and set an “underweight” rating for the company in a research note on Friday, July 19th. Stifel Nicolaus cut their price objective on shares of WK Kellogg from $22.00 to $18.00 and set a “hold” rating for the company in a research report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. decreased their target price on shares of WK Kellogg from $22.00 to $17.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $18.50.

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.