WK Kellogg Co to Issue Quarterly Dividend of $0.16 (NYSE:KLG)

WK Kellogg Co (NYSE:KLG) announced a quarterly dividend on Thursday, October 31st, RTT News reports. Stockholders of record on Friday, November 29th will be paid a dividend of 0.16 per share on Friday, December 13th. This represents a $0.64 annualized dividend and a dividend yield of 3.85%.

WK Kellogg has a dividend payout ratio of 42.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect WK Kellogg to earn $1.50 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 42.7%.

WK Kellogg Stock Performance

Shares of KLG stock opened at $16.62 on Friday. The company’s fifty day simple moving average is $17.55 and its 200-day simple moving average is $18.35. The company has a quick ratio of 0.36, a current ratio of 0.83 and a debt-to-equity ratio of 1.42. WK Kellogg has a 12 month low of $9.82 and a 12 month high of $24.63. The firm has a market cap of $1.43 billion and a PE ratio of 11.87.

WK Kellogg (NYSE:KLG) last announced its earnings results on Tuesday, August 6th. The company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.06). The business had revenue of $672.00 million during the quarter, compared to the consensus estimate of $671.50 million. WK Kellogg had a net margin of 4.45% and a return on equity of 42.12%. WK Kellogg’s revenue was down 4.0% compared to the same quarter last year. Equities research analysts expect that WK Kellogg will post 1.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on KLG shares. Bank of America downgraded WK Kellogg from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $24.00 to $17.00 in a research note on Wednesday, July 10th. Barclays reduced their price target on shares of WK Kellogg from $19.00 to $16.00 and set an “underweight” rating for the company in a report on Friday, July 19th. JPMorgan Chase & Co. lowered their target price on WK Kellogg from $22.00 to $17.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Finally, Stifel Nicolaus lowered their price objective on WK Kellogg from $22.00 to $18.00 and set a “hold” rating for the company in a research note on Tuesday, July 23rd. Three analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat.com, WK Kellogg presently has an average rating of “Hold” and a consensus target price of $18.50.

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.