Kellogg’s cereal business began trading as “WK Kellogg Co” on the New York Stock Exchange Monday after spinning off from its parent company.
The remaining business, which includes snack brands such as Pringles and Cheez-It plus North American frozen food brands like Morningstar Farms, has been renamed Kellanova.
Kellanova retains the classic K ticker, while WK Kellogg trades under KLG.
Shareholders received one share of WK Kellogg for every four shares of Kellogg they owned as of September 21.
Shares of WK Kellogg are struggling on the company’s first day, though, falling more than 6% Monday afternoon. Kellanova shares similarly fell nearly 7%.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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