KFG Wealth Management LLC Takes Position in General Mills, Inc. (NYSE:GIS)

KFG Wealth Management LLC acquired a new stake in shares of General Mills, Inc. (NYSE:GIS) in the first quarter, Holdings Channel reports. The fund acquired 3,807 shares of the company’s stock, valued at approximately $266,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. MeadowBrook Investment Advisors LLC acquired a new position in General Mills during the 4th quarter valued at approximately $27,000. Bruce G. Allen Investments LLC acquired a new position in General Mills during the 4th quarter valued at approximately $28,000. Rise Advisors LLC boosted its position in General Mills by 199.3% during the 1st quarter. Rise Advisors LLC now owns 410 shares of the company’s stock valued at $29,000 after purchasing an additional 273 shares during the period. Capital Advisors Ltd. LLC boosted its position in General Mills by 409.8% during the 1st quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock valued at $29,000 after purchasing an additional 336 shares during the period. Finally, Fortis Group Advisors LLC boosted its position in General Mills by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 458 shares of the company’s stock valued at $30,000 after purchasing an additional 229 shares during the period. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Price Performance

General Mills stock opened at $63.07 on Thursday. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.65 and a quick ratio of 0.38. The company has a market capitalization of $35.20 billion, a PE ratio of 14.63, a price-to-earnings-growth ratio of 3.56 and a beta of 0.09. General Mills, Inc. has a one year low of $60.33 and a one year high of $77.63. The business has a 50 day simple moving average of $68.20 and a 200 day simple moving average of $66.70.

General Mills (NYSE:GIS) last posted its earnings results on Wednesday, June 26th. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.99 by $0.02. The business had revenue of $4.71 billion during the quarter, compared to the consensus estimate of $4.85 billion. General Mills had a return on equity of 26.56% and a net margin of 12.57%. General Mills’s revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the company earned $1.12 EPS. On average, sell-side analysts forecast that General Mills, Inc. will post 4.5 EPS for the current fiscal year.

General Mills Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.81%. The ex-dividend date of this dividend is Wednesday, July 10th. This is an increase from General Mills’s previous quarterly dividend of $0.59. General Mills’s dividend payout ratio (DPR) is 54.76%.

Insider Buying and Selling

In other General Mills news, insider Werner Lanette Shaffer sold 710 shares of General Mills stock in a transaction on Monday, May 13th. The stock was sold at an average price of $70.57, for a total value of $50,104.70. Following the completion of the transaction, the insider now owns 17,397 shares in the company, valued at approximately $1,227,706.29. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.24% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on GIS. Royal Bank of Canada restated a “sector perform” rating and set a $70.00 price objective on shares of General Mills in a research report on Thursday, June 27th. Sanford C. Bernstein upgraded General Mills from an “underperform” rating to a “market perform” rating and boosted their price target for the stock from $62.00 to $70.00 in a research report on Wednesday, May 15th. TD Cowen boosted their price target on General Mills from $68.00 to $70.00 and gave the stock a “market perform” rating in a research report on Thursday, March 21st. Stifel Nicolaus reduced their price target on General Mills from $77.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, June 27th. Finally, Citigroup reduced their price target on General Mills from $71.00 to $68.00 and set a “neutral” rating for the company in a research report on Thursday, June 27th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $70.00.

General Mills Profile

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.