3,807 Shares in General Mills, Inc. (NYSE:GIS) Purchased by KFG Wealth Management LLC

KFG Wealth Management LLC acquired a new position in General Mills, Inc. (NYSE:GIS) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,807 shares of the company’s stock, valued at approximately $266,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Morgan Stanley lifted its stake in General Mills by 0.3% in the third quarter. Morgan Stanley now owns 8,242,274 shares of the company’s stock worth $527,423,000 after acquiring an additional 23,400 shares during the period. Capital World Investors lifted its position in shares of General Mills by 7.6% during the fourth quarter. Capital World Investors now owns 7,074,884 shares of the company’s stock valued at $460,858,000 after buying an additional 501,717 shares during the last quarter. Norges Bank purchased a new stake in shares of General Mills during the fourth quarter valued at about $377,205,000. Dimensional Fund Advisors LP lifted its position in shares of General Mills by 4.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,003,306 shares of the company’s stock valued at $325,909,000 after buying an additional 235,938 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of General Mills by 106.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,442,653 shares of the company’s stock valued at $224,254,000 after buying an additional 1,778,345 shares during the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

General Mills Trading Down 0.2 %

Shares of NYSE:GIS opened at $63.07 on Thursday. General Mills, Inc. has a 1 year low of $60.33 and a 1 year high of $77.63. The firm has a market capitalization of $35.20 billion, a price-to-earnings ratio of 14.63, a price-to-earnings-growth ratio of 3.56 and a beta of 0.09. 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 business’s 50 day moving average price is $68.20 and its 200-day moving average price is $66.70.

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

General Mills Increases Dividend

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

Wall Street Analyst Weigh In

Several research firms have commented on GIS. TD Cowen increased their price target on shares of General Mills from $68.00 to $70.00 and gave the company a “market perform” rating in a research report on Thursday, March 21st. HSBC upped their price objective on shares of General Mills from $74.00 to $76.00 and gave the company a “hold” rating in a report on Thursday, March 21st. Stifel Nicolaus cut their price target on shares of General Mills from $77.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, June 27th. Evercore ISI cut their price target on shares of General Mills from $76.00 to $72.00 and set an “in-line” rating on the stock in a report on Friday, June 28th. Finally, Barclays cut their price target on shares of General Mills from $72.00 to $67.00 and set an “equal weight” rating on the stock in a report on Friday, June 28th. Two equities 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $70.00.

Insider Activity

In other news, insider Werner Lanette Shaffer sold 710 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $70.57, for a total transaction of $50,104.70. Following 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 legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.24% of the company’s stock.

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.