Are Friendly Activists Accumulating Kellogg? Unlikely Says Stifel

As continued talk of Kellogg Company (NYSE:K) as an activist target is knocked down by a Stifel report to investors today, a friendly activist could emerge that has eyes on short term financial engineering. Kellogg’s shares up over peers despite “growth challenges” Shares of Kellogg Company (NYSE:K) have risen 10% over the past two months, bucking a trend in the food group, which was up only 3% over a similar period and 1% up over the S&P 500. This rise in stock price comes amid a drop in sales of 2.4% and a decline in operating profit of 6%.  Unconfirmed…