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 payout ratio of 42.4% indicating that its dividend is sufficiently covered by earnings. Research 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 Down 2.4 %

Shares of KLG stock opened at $16.62 on Friday. The stock has a 50 day moving average of $17.55 and a 200-day moving average of $18.35. The firm has a market cap of $1.43 billion and a PE ratio of 11.87. 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.

WK Kellogg (NYSE:KLG) last released its earnings results on Tuesday, August 6th. The company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.06). WK Kellogg had a net margin of 4.45% and a return on equity of 42.12%. The company had revenue of $672.00 million for the quarter, compared to analyst estimates of $671.50 million. The company’s quarterly revenue was down 4.0% on a year-over-year basis. On average, equities analysts predict that WK Kellogg will post 1.5 EPS for the current year.

Wall Street Analysts Forecast Growth

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