WK Kellogg Co. (NYSE:KLG) Announces $0.17 Quarterly Dividend

Key Points

• WK Kellogg Co. has declared a quarterly dividend of $0.17 per share, with a dividend yield of 2.9% and a payout ratio of 38.8%, indicating that its earnings sufficiently cover the dividend.
• The company reported $0.20 EPS for the last quarter, missing expectations, and had revenue of $667 million, down 6.2% year-over-year.
• In recent trading, WK Kellogg's stock price reached $23.01, with a market cap of $1.99 billion and a low of $14.80 and high of $23.56 over the past year.

WK Kellogg Co. (NYSE:KLG - Get Free Report) declared a quarterly dividend on Thursday, July 31st, RTT News reports. Stockholders of record on Friday, August 29th will be paid a dividend of 0.165 per share on Friday, September 12th. This represents a c) dividend on an annualized basis and a dividend yield of 2.9%.

WK Kellogg has a dividend payout ratio of 38.8% meaning its dividend is sufficiently covered by earnings. Analysts expect WK Kellogg to earn $1.81 per share next year, which means the company should continue to be able to cover its $0.66 annual dividend with an expected future payout ratio of 36.5%.

WK Kellogg Stock Performance

Shares of WK Kellogg stock traded up $0.03 during trading on Thursday, reaching $23.01. The company's stock had a trading volume of 955,892 shares, compared to its average volume of 1,359,959. The company has a 50-day moving average price of $18.41 and a two-hundred day moving average price of $18.37. The firm has a market cap of $1.99 billion, a PE ratio of 35.96 and a beta of 0.23. WK Kellogg has a fifty-two week low of $14.80 and a fifty-two week high of $23.56. The company has a current ratio of 0.78, a quick ratio of 0.34 and a debt-to-equity ratio of 1.54.

WK Kellogg (NYSE:KLG - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.21). The firm had revenue of $667.00 million during the quarter, compared to analyst estimates of $677.91 million. WK Kellogg had a net margin of 2.14% and a return on equity of 34.88%. The business's quarterly revenue was down 6.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.37 earnings per share. On average, analysts forecast that WK Kellogg will post 1.57 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KLG. Raymond James Financial Inc. purchased a new position in WK Kellogg in the 4th quarter valued at about $754,000. KLP Kapitalforvaltning AS purchased a new position in WK Kellogg in the 4th quarter valued at about $227,000. LPL Financial LLC lifted its holdings in WK Kellogg by 33.3% in the 4th quarter. LPL Financial LLC now owns 39,709 shares of the company's stock valued at $714,000 after purchasing an additional 9,921 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of WK Kellogg by 5.4% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 39,822 shares of the company's stock valued at $716,000 after acquiring an additional 2,032 shares during the last quarter. Finally, Pictet Asset Management Holding SA acquired a new position in shares of WK Kellogg during the 4th quarter valued at about $194,000. 95.74% of the stock is currently owned by hedge funds and other institutional investors.

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.

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