WK Kellogg (NYSE:KLG) Announces Quarterly Earnings Results, Meets Expectations

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

WK Kellogg Stock Performance

Shares of NYSE:KLG traded down $1.92 during midday trading on Wednesday, hitting $22.35. 680,908 shares of the stock were exchanged, compared to its average volume of 1,124,552. The business’s 50-day moving average price is $19.42 and its 200 day moving average price is $14.89. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.43 and a current ratio of 0.84. WK Kellogg has a 12 month low of $9.65 and a 12 month high of $24.63.

WK Kellogg Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date is Friday, May 31st.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. BNP Paribas lowered WK Kellogg from a “neutral” rating to an “underperform” rating and set a $20.00 target price on the stock. in a report on Wednesday. Barclays upped their price objective on shares of WK Kellogg from $12.00 to $15.00 and gave the company an “underweight” rating in a report on Friday, April 12th. Stifel Nicolaus raised their target price on shares of WK Kellogg from $20.00 to $22.00 and gave the stock a “hold” rating in a research note on Wednesday. Finally, Evercore ISI upped their price target on shares of WK Kellogg from $21.00 to $23.00 and gave the company an “in-line” rating in a research note on Wednesday. Three research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $15.25.

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.