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

WK Kellogg Co (NYSE:KLG) declared a quarterly dividend on Thursday, May 2nd, Zacks reports. Stockholders of record on Friday, May 31st will be given a dividend of 0.16 per share on Friday, June 14th. This represents a $0.64 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend is Friday, May 31st.

WK Kellogg Stock Down 2.4 %

WK Kellogg stock traded down $0.57 during midday trading on Friday, reaching $23.20. The stock had a trading volume of 1,047,375 shares, compared to its average volume of 1,127,465. WK Kellogg has a 12 month low of $9.65 and a 12 month high of $24.63. The company has a current ratio of 0.84, a quick ratio of 0.43 and a debt-to-equity ratio of 1.62. The firm’s 50-day moving average price is $18.88 and its 200 day moving average price is $14.54.

WK Kellogg (NYSE:KLG) last released its quarterly earnings data on Tuesday, February 13th. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.03). The company had revenue of $651.00 million during the quarter, compared to the consensus estimate of $645.87 million. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year. On average, research analysts predict that WK Kellogg will post 1.51 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on KLG. Stifel Nicolaus upped their target price on WK Kellogg from $13.00 to $20.00 and gave the stock a “hold” rating in a research note on Friday, April 26th. Barclays raised their price objective on shares of WK Kellogg from $12.00 to $15.00 and gave the stock an “underweight” rating in a report on Friday, April 12th. Two analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $13.45.

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.