WK Kellogg Co (KLG) To Go Ex-Dividend on November 29th

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 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date of this dividend is Friday, November 29th.

WK Kellogg has a dividend payout ratio of 43.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect WK Kellogg to earn $1.46 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 43.8%.

WK Kellogg Stock Performance

Shares of KLG stock opened at $21.01 on Wednesday. The company’s fifty day simple moving average is $17.56 and its 200-day simple moving average is $17.66. The company has a quick ratio of 0.34, a current ratio of 0.78 and a debt-to-equity ratio of 1.49. The firm has a market cap of $1.81 billion and a PE ratio of 26.93. WK Kellogg has a 12 month low of $10.99 and a 12 month high of $24.63.

WK Kellogg (NYSE:KLG) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.05. WK Kellogg had a net margin of 2.50% and a return on equity of 33.41%. The business had revenue of $689.00 million for the quarter, compared to analyst estimates of $674.10 million. During the same quarter in the previous year, the firm posted $0.49 earnings per share. The firm’s revenue for the quarter was down .4% on a year-over-year basis. Equities research analysts expect that WK Kellogg will post 1.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on KLG. JPMorgan Chase & Co. dropped their price target on shares of WK Kellogg from $22.00 to $17.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Barclays upped their price objective on shares of WK Kellogg from $16.00 to $19.00 and gave the company an “underweight” rating in a report on Monday, November 11th. Three investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat.com, WK Kellogg presently has an average rating of “Hold” and a consensus price target of $18.88.

Insider Buying and Selling

In other WK Kellogg news, Director G Zachary Gund purchased 65,000 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were acquired at an average cost of $17.76 per share, with a total value of $1,154,400.00. Following the completion of the transaction, the director now owns 195,000 shares in the company, valued at $3,463,200. The trade was a 50.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.90% of the stock is owned by insiders.

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.