WK Kellogg (NYSE:KLG) Announces Quarterly Earnings Results

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

WK Kellogg Price Performance

Shares of NYSE KLG traded down $2.31 during mid-day trading on Wednesday, hitting $21.96. The company had a trading volume of 1,214,591 shares, compared to its average volume of 1,129,888. WK Kellogg has a one year low of $9.65 and a one year high of $24.63. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.84 and a quick ratio of 0.43. The firm has a 50-day simple moving average of $19.42 and a two-hundred day simple moving average of $14.89.

WK Kellogg Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.64 annualized dividend and a yield of 2.91%.

Analyst Ratings Changes

KLG has been the subject of a number of research reports. TD Cowen raised their target price on WK Kellogg from $13.00 to $24.00 and gave the company a “hold” rating in a research note on Wednesday. BNP Paribas lowered shares of WK Kellogg from a “neutral” rating to an “underperform” rating and set a $20.00 target price on the stock. in a research report on Wednesday. Stifel Nicolaus raised their price target on shares of WK Kellogg from $20.00 to $22.00 and gave the company a “hold” rating in a report on Wednesday. Barclays lifted their target price on WK Kellogg from $12.00 to $15.00 and gave the company an “underweight” rating in a research note on Friday, April 12th. Finally, Evercore ISI boosted their price target on shares of WK Kellogg from $21.00 to $23.00 and gave the stock an “in-line” rating in a research note on Wednesday. Three research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $16.55.

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.