General Mills, Inc. (NYSE:GIS) Shares Bought by Kovack Advisors Inc.

Kovack Advisors Inc. raised its stake in General Mills, Inc. (NYSE:GISFree Report) by 5.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,357 shares of the company’s stock after purchasing an additional 852 shares during the quarter. Kovack Advisors Inc.’s holdings in General Mills were worth $1,214,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of GIS. Teza Capital Management LLC acquired a new stake in shares of General Mills in the 3rd quarter worth $428,000. JPMorgan Chase & Co. raised its holdings in General Mills by 17.4% during the third quarter. JPMorgan Chase & Co. now owns 2,220,646 shares of the company’s stock worth $142,099,000 after purchasing an additional 328,585 shares in the last quarter. Sei Investments Co. lifted its position in General Mills by 9.2% in the third quarter. Sei Investments Co. now owns 253,379 shares of the company’s stock valued at $16,215,000 after purchasing an additional 21,299 shares during the period. Royal London Asset Management Ltd. boosted its holdings in General Mills by 6.9% in the 3rd quarter. Royal London Asset Management Ltd. now owns 244,523 shares of the company’s stock valued at $15,648,000 after purchasing an additional 15,707 shares in the last quarter. Finally, Baker Avenue Asset Management LP increased its position in General Mills by 533.6% during the 3rd quarter. Baker Avenue Asset Management LP now owns 830 shares of the company’s stock worth $53,000 after purchasing an additional 699 shares during the period. Institutional investors and hedge funds own 75.71% of the company’s stock.

Insider Buying and Selling

In related news, insider Werner Lanette Shaffer sold 710 shares of the business’s 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 directly owns 17,397 shares of the company’s stock, valued at approximately $1,227,706.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.24% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

GIS has been the subject of a number of research analyst reports. Evercore ISI cut their price target 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. Mizuho decreased their price target on General Mills from $70.00 to $62.00 and set a “neutral” rating on the stock in a research note on Wednesday. Citigroup lowered their price target on General Mills from $71.00 to $68.00 and set a “neutral” rating on the stock in a report on Thursday, June 27th. Morgan Stanley lifted their price objective on General Mills from $58.00 to $61.00 and gave the stock an “underweight” rating in a report on Thursday, March 21st. Finally, JPMorgan Chase & Co. lowered their target price on General Mills from $70.00 to $63.00 and set a “neutral” rating on the stock in a report on Thursday, June 27th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $70.00.

Get Our Latest Analysis on GIS

General Mills Price Performance

Shares of General Mills stock opened at $63.08 on Friday. The business’s fifty day moving average price is $68.03 and its 200 day moving average price is $66.68. The stock has a market capitalization of $35.21 billion, a P/E ratio of 14.64, a PEG ratio of 3.56 and a beta of 0.09. The company has a current ratio of 0.65, a quick ratio of 0.38 and a debt-to-equity ratio of 1.17. General Mills, Inc. has a twelve month low of $60.33 and a twelve month high of $77.63.

General Mills (NYSE:GISGet Free Report) last issued its earnings results on Wednesday, June 26th. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.02. The business had revenue of $4.71 billion during the quarter, compared to analysts’ expectations of $4.85 billion. General Mills had a return on equity of 26.56% and a net margin of 12.57%. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.12 EPS. As a group, research analysts anticipate that General Mills, Inc. will post 4.5 earnings per share for the current year.

General Mills Increases Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 3.80%. This is a boost from General Mills’s previous quarterly dividend of $0.59. The ex-dividend date is Wednesday, July 10th. General Mills’s dividend payout ratio is 54.76%.

General Mills Profile

(Free Report)

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.

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Institutional Ownership by Quarter for General Mills (NYSE:GIS)

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