Kernodle & Katon Asset Management Group LLC Boosts Position in General Mills, Inc. (GIS)
Kernodle & Katon Asset Management Group LLC increased its stake in shares of General Mills, Inc. (NYSE:GIS) by 7.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,523 shares of the company’s stock after buying an additional 1,671 shares during the period. Kernodle & Katon Asset Management Group LLC’s holdings in General Mills were worth $1,506,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GIS. Hanson McClain Inc. raised its stake in shares of General Mills by 1.5% in the first quarter. Hanson McClain Inc. now owns 2,346 shares of the company’s stock worth $138,000 after buying an additional 35 shares during the last quarter. Assetmark Inc. raised its stake in shares of General Mills by 11.2% in the first quarter. Assetmark Inc. now owns 2,506 shares of the company’s stock worth $148,000 after buying an additional 253 shares during the last quarter. Advisory Services Network LLC acquired a new stake in shares of General Mills during the first quarter worth about $179,000. Fort Pitt Capital Group LLC acquired a new stake in shares of General Mills during the first quarter worth about $210,000. Finally, Vigilant Capital Management LLC raised its stake in shares of General Mills by 5.7% in the first quarter. Vigilant Capital Management LLC now owns 3,718 shares of the company’s stock worth $219,000 after buying an additional 200 shares during the last quarter. 69.46% of the stock is currently owned by institutional investors.
Shares of General Mills, Inc. (GIS) traded down 0.0938% during trading on Tuesday, reaching $54.2291. The company’s stock had a trading volume of 1,177,421 shares. General Mills, Inc. has a 1-year low of $53.24 and a 1-year high of $71.68. The company’s 50-day moving average price is $55.47 and its 200 day moving average price is $57.57. The stock has a market capitalization of $31.30 billion, a price-to-earnings ratio of 19.5773 and a beta of 0.61.
General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, June 28th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.02. The firm had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.75 billion. General Mills had a net margin of 10.61% and a return on equity of 38.97%. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.66 EPS. Analysts anticipate that General Mills, Inc. will post $3.11 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were given a $0.49 dividend. The ex-dividend date of this dividend was Thursday, July 6th. This is a boost from General Mills’s previous quarterly dividend of $0.48. This represents a $1.96 annualized dividend and a dividend yield of 3.61%. General Mills’s payout ratio is presently 70.76%.
A number of analysts have recently issued reports on the company. Zacks Investment Research raised General Mills from a “sell” rating to a “hold” rating in a research report on Wednesday, August 23rd. BidaskClub raised General Mills from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. BMO Capital Markets reaffirmed a “hold” rating on shares of General Mills in a research report on Tuesday, August 8th. Piper Jaffray Companies set a $56.00 target price on General Mills and gave the stock a “sell” rating in a research report on Monday, August 7th. Finally, Royal Bank Of Canada set a $62.00 target price on General Mills and gave the stock a “hold” rating in a research report on Wednesday, August 2nd. Five investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $59.93.
General Mills Company Profile
General Mills, Inc is a manufacturer and marketer of branded consumer foods sold through retail stores. The Company is a supplier of branded and unbranded food products to the North American foodservice and commercial baking industries. The Company has three segments: U.S. Retail, International, and Convenience Stores and Foodservice.
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