WK Kellogg Co (NYSE:KLG) Plans Quarterly Dividend of $0.16

WK Kellogg Co (NYSE:KLG) declared a quarterly dividend on Thursday, October 31st,RTT News reports. Shareholders of record on Friday, November 29th will be given a dividend of 0.16 per share on Friday, December 13th. This represents a $0.64 annualized dividend and a yield of 3.05%. The ex-dividend date is Friday, November 29th.

WK Kellogg has a dividend payout ratio of 43.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect WK Kellogg to earn $1.46 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 43.8%.

WK Kellogg Price Performance

KLG stock opened at $21.01 on Wednesday. The company has a quick ratio of 0.34, a current ratio of 0.78 and a debt-to-equity ratio of 1.49. WK Kellogg has a 12 month low of $10.99 and a 12 month high of $24.63. The firm has a market cap of $1.81 billion and a P/E ratio of 26.93. The company’s 50-day moving average price is $17.56 and its two-hundred day moving average price is $17.66.

WK Kellogg (NYSE:KLG) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.05. WK Kellogg had a net margin of 2.50% and a return on equity of 33.41%. The company had revenue of $689.00 million for the quarter, compared to the consensus estimate of $674.10 million. During the same period last year, the company posted $0.49 EPS. The firm’s quarterly revenue was down .4% compared to the same quarter last year. On average, analysts anticipate that WK Kellogg will post 1.49 earnings per share for the current fiscal year.

Insider Buying and Selling at WK Kellogg

In other news, Director G Zachary Gund acquired 65,000 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were purchased at an average cost of $17.76 per share, with a total value of $1,154,400.00. Following the acquisition, the director now directly owns 195,000 shares of the company’s stock, valued at $3,463,200. The trade was a 50.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on KLG shares. JPMorgan Chase & Co. reduced their price target on shares of WK Kellogg from $22.00 to $17.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Barclays lifted their price objective on shares of WK Kellogg from $16.00 to $19.00 and gave the company an “underweight” rating in a research note on Monday, November 11th. Three analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to data from MarketBeat, WK Kellogg presently has a consensus rating of “Hold” and an average target price of $18.88.

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.