WK Kellogg (NYSE:KLG) Releases Earnings Results

WK Kellogg (NYSE:KLG - Get Free Report) posted its earnings results on Tuesday. The company reported $0.37 earnings per share (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 analyst estimates of $697.83 million. WK Kellogg's revenue was down .7% on a year-over-year basis.

WK Kellogg Stock Performance

Shares of KLG stock traded down $2.32 during mid-day trading on Wednesday, reaching $21.95. 1,853,679 shares of the company were exchanged, compared to its average volume of 1,137,729. The business's 50 day simple moving average is $19.42 and its 200 day simple moving average is $14.89. The company has a quick ratio of 0.43, a current ratio of 0.84 and a debt-to-equity ratio of 1.62. WK Kellogg has a fifty-two week low of $9.65 and a fifty-two week high of $24.63.

WK Kellogg Announces Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 2.92%. The ex-dividend date is Friday, May 31st.

Wall Street Analyst Weigh In

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

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.