Spire Wealth Management Has $61,000 Holdings in General Mills, Inc. $GIS

Spire Wealth Management cut its stake in General Mills, Inc. (NYSE:GIS) by 91.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,186 shares of the company’s stock after selling 12,774 shares during the period. Spire Wealth Management’s holdings in General Mills were worth $61,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kera Capital Partners Inc. acquired a new stake in General Mills in the 2nd quarter valued at about $222,000. Victory Capital Management Inc. lifted its stake in General Mills by 7.3% in the 1st quarter. Victory Capital Management Inc. now owns 522,576 shares of the company’s stock valued at $31,245,000 after purchasing an additional 35,494 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in General Mills by 7.8% in the 1st quarter. Commonwealth Equity Services LLC now owns 452,844 shares of the company’s stock valued at $27,076,000 after purchasing an additional 32,628 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in General Mills by 22.6% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 383,877 shares of the company’s stock valued at $19,889,000 after purchasing an additional 70,800 shares during the last quarter. Finally, Rock Point Advisors LLC acquired a new stake in General Mills in the 1st quarter valued at about $3,610,000. 75.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GIS has been the subject of several research reports. Mizuho cut their price objective on shares of General Mills from $57.00 to $52.00 and set a “neutral” rating for the company in a research report on Friday, September 19th. JPMorgan Chase & Co. restated an “underweight” rating and set a $45.00 price objective (down from $53.00) on shares of General Mills in a research report on Wednesday, August 20th. Morgan Stanley cut their price objective on shares of General Mills from $49.00 to $48.00 and set an “underweight” rating for the company in a research report on Monday, September 15th. Wall Street Zen upgraded shares of General Mills from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Finally, HSBC cut their price objective on shares of General Mills from $59.00 to $57.00 and set a “hold” rating for the company in a research report on Thursday, September 18th. Four analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, General Mills has an average rating of “Hold” and a consensus price target of $55.82.

General Mills Stock Up 0.0%

NYSE GIS opened at $46.40 on Thursday. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28. General Mills, Inc. has a 1-year low of $45.80 and a 1-year high of $68.74. The company has a 50 day moving average of $49.12 and a 200-day moving average of $51.32. The company has a market cap of $24.75 billion, a price-to-earnings ratio of 8.77, a PEG ratio of 1.17 and a beta of -0.04.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, September 17th. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. General Mills had a net margin of 15.24% and a return on equity of 23.46%. The company had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.52 billion. During the same period in the previous year, the business earned $1.07 earnings per share. The firm’s quarterly revenue was down 6.8% on a year-over-year basis. On average, equities research analysts expect that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 10th were paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date of this dividend was Friday, October 10th. General Mills’s dividend payout ratio (DPR) is 46.12%.

Insider Transactions at General Mills

In related news, insider Jacqueline Williams-Roll sold 4,000 shares of General Mills stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $50.04, for a total value of $200,160.00. Following the transaction, the insider directly owned 66,593 shares of the company’s stock, valued at $3,332,313.72. This trade represents a 5.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.30% of the stock is owned by company insiders.

About General Mills

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.