KFG Wealth Management LLC Increases Stake in General Mills, Inc. (NYSE:GIS)

KFG Wealth Management LLC boosted its stake in shares of General Mills, Inc. (NYSE:GIS) by 5.6% during the 2nd quarter, Holdings Channel reports. The firm owned 4,021 shares of the company’s stock after acquiring an additional 214 shares during the quarter. KFG Wealth Management LLC’s holdings in General Mills were worth $254,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Cetera Trust Company N.A purchased a new stake in shares of General Mills during the fourth quarter valued at $50,000. Optimist Retirement Group LLC acquired a new position in shares of General Mills in the fourth quarter valued at about $1,171,000. State Board of Administration of Florida Retirement System raised its stake in shares of General Mills by 5.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 688,543 shares of the company’s stock worth $48,177,000 after purchasing an additional 38,021 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of General Mills by 16.1% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 696,170 shares of the company’s stock worth $48,711,000 after purchasing an additional 96,712 shares during the last quarter. Finally, Apollon Wealth Management LLC lifted its holdings in shares of General Mills by 122.7% during the fourth quarter. Apollon Wealth Management LLC now owns 23,675 shares of the company’s stock worth $1,542,000 after purchasing an additional 13,043 shares during the period. Institutional investors and hedge funds own 75.71% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on GIS shares. Argus reiterated a “hold” rating on shares of General Mills in a report on Tuesday, July 16th. Evercore ISI reduced their target price on shares of General Mills from $76.00 to $72.00 and set an “in-line” rating for the company in a report on Friday, June 28th. JPMorgan Chase & Co. lowered their price target on shares of General Mills from $70.00 to $63.00 and set a “neutral” rating on the stock in a report on Thursday, June 27th. Bank of America cut their price target on General Mills from $70.00 to $68.00 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. Finally, Sanford C. Bernstein raised General Mills from an “underperform” rating to a “market perform” rating and boosted their price objective for the company from $62.00 to $70.00 in a report on Wednesday, May 15th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $69.71.

General Mills Price Performance

Shares of NYSE:GIS traded up $0.28 during midday trading on Friday, reaching $69.03. 2,320,963 shares of the company’s stock traded hands, compared to its average volume of 4,033,532. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.38 and a current ratio of 0.65. The company has a market cap of $38.53 billion, a P/E ratio of 16.02, a PEG ratio of 3.83 and a beta of 0.09. General Mills, Inc. has a 1 year low of $60.33 and a 1 year high of $74.45. The company has a fifty day simple moving average of $65.90 and a two-hundred day simple moving average of $67.05.

General Mills (NYSE:GIS) last released its earnings results on Wednesday, June 26th. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.02. The business had revenue of $4.71 billion for 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%. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.12 earnings per share. Equities analysts predict that General Mills, Inc. will post 4.49 EPS for the current fiscal year.

General Mills Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.48%. The ex-dividend date was 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 55.68%.

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 savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.