WK Kellogg (NYSE:KLG) Issues Quarterly Earnings Results

WK Kellogg (NYSE:KLG) released its earnings results on Tuesday. The company reported $0.37 earnings per share for the quarter, meeting the consensus estimate 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 revenue for the quarter was down .7% compared to the same quarter last year.

WK Kellogg Trading Up 1.6 %

KLG stock traded up $0.35 during trading on Thursday, hitting $22.32. The company had a trading volume of 223,369 shares, compared to its average volume of 1,127,070. The business has a 50 day moving average of $19.56 and a 200 day moving average of $14.94. WK Kellogg has a fifty-two week low of $9.65 and a fifty-two week high of $24.63. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend is Friday, May 31st.

Analysts Set New Price Targets

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 target price for the company. in a research note on Wednesday. TD Cowen boosted their target price on shares of WK Kellogg from $13.00 to $24.00 and gave the company a “hold” rating in a research note on Wednesday. Stifel Nicolaus boosted their target price on shares of WK Kellogg from $20.00 to $22.00 and gave the company a “hold” rating in a research note on Wednesday. Barclays upped their price target on shares of WK Kellogg from $12.00 to $15.00 and gave the stock an “underweight” rating in a research report on Friday, April 12th. Finally, Evercore ISI upped 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 report on Wednesday. Three investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus 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.