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

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

WK Kellogg Price Performance

KLG stock traded up $0.05 during trading on Friday, hitting $22.25. 62,870 shares of the company traded hands, compared to its average volume of 1,127,460. The company has a 50-day moving average of $19.71 and a 200-day moving average of $14.99. 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 1 year low of $9.65 and a 1 year high of $24.63.

WK Kellogg Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.88%. The ex-dividend date of this dividend is Friday, May 31st.

Analyst Ratings Changes

Several equities analysts recently commented on the company. 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 boosted 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. Barclays boosted their target price on WK Kellogg from $15.00 to $19.00 and gave the stock an “underweight” rating in a research report on Thursday. Evercore ISI upped their price objective on WK Kellogg from $21.00 to $23.00 and gave the stock an “in-line” rating in a report on Wednesday. Finally, TD Cowen upped their price objective on WK Kellogg from $13.00 to $24.00 and gave the stock a “hold” rating in a report on Wednesday. Three research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $16.95.

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.