Bullish indicating open at $55-$60, IPO prices at $37
Investing.com - Stifel has reiterated its Hold rating on WK Kellogg (NYSE:KLG) stock, maintaining its price target at $23.00.
The research firm’s analyst Matthew Smith kept the rating and target unchanged in the latest assessment of the cereal manufacturer.
WK Kellogg, which was spun off from Kellanova (NYSE:K) in 2023, operates as an independent company focused primarily on the North American cereal market.
The company’s portfolio includes well-known breakfast cereal brands such as Frosted Flakes, Froot Loops, Rice Krispies, and Special K.
Stifel’s maintained Hold rating suggests the firm expects WK Kellogg stock to perform in line with the market over the next 12 months. The broader analyst consensus shows price targets ranging from $19.00 to $24.30, with technical indicators suggesting the stock is currently in overbought territory.
In other recent news, WK Kellogg Co has announced a quarterly dividend of $0.165 per share, payable on September 12, 2025, to shareholders of record as of August 29, 2025. This announcement comes amid significant developments for the company, including a definitive agreement to be acquired by Ferrero Group for $23 per share in cash. The acquisition, valued at $3.1 billion, represents a 40% premium to WK Kellogg’s 30-day volume-weighted average price. Following this announcement, TD Cowen upgraded WK Kellogg’s stock rating from Sell to Hold and raised its price target to $23.00. Similarly, Stifel has also increased its price target for the company to $23.00 while maintaining a Hold rating. In another strategic move, WK Kellogg plans to eliminate synthetic dyes from its cereal products by the end of 2027, aligning with broader industry trends. These recent developments are likely to impact the company’s operations and market positioning in the coming years.
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