Atlantic Union Bankshares Corp Raises Holdings in General Mills, Inc. $GIS

Atlantic Union Bankshares Corp increased its position in General Mills, Inc. (NYSE:GIS) by 16.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 10,422 shares of the company’s stock after acquiring an additional 1,468 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in General Mills were worth $540,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Garde Capital Inc. grew its stake in General Mills by 101.5% in the 2nd quarter. Garde Capital Inc. now owns 524 shares of the company’s stock valued at $27,000 after buying an additional 264 shares in the last quarter. Armstrong Advisory Group Inc. bought a new position in shares of General Mills in the second quarter worth $32,000. GKV Capital Management Co. Inc. purchased a new position in shares of General Mills in the first quarter valued at $34,000. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of General Mills in the first quarter valued at $37,000. Finally, Pingora Partners LLC raised its stake in shares of General Mills by 416.7% during the 1st quarter. Pingora Partners LLC now owns 620 shares of the company’s stock valued at $37,000 after purchasing an additional 500 shares during the period. 75.71% of the stock is owned by hedge funds and other institutional investors.

General Mills Price Performance

Shares of NYSE:GIS opened at $46.89 on Friday. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 1.28. The stock has a market cap of $25.01 billion, a PE ratio of 8.86, a PEG ratio of 1.17 and a beta of -0.04. The company’s fifty day moving average is $49.02 and its 200 day moving average is $51.16. General Mills, Inc. has a 52 week low of $45.80 and a 52 week high of $67.40.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, September 17th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. General Mills had a return on equity of 23.46% and a net margin of 15.24%.The firm had revenue of $4.52 billion for the quarter, compared to analysts’ expectations of $4.52 billion. During the same period last year, the firm earned $1.07 earnings per share. The company’s revenue for the quarter was down 6.8% compared to the same quarter last year. Research analysts anticipate that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 5.2%. The ex-dividend date of this dividend was Friday, October 10th. General Mills’s payout ratio is presently 46.12%.

Wall Street Analyst Weigh In

GIS has been the subject of a number of recent analyst reports. Barclays reduced their target price on General Mills from $54.00 to $52.00 and set an “equal weight” rating for the company in a report on Friday, September 19th. Zacks Research upgraded shares of General Mills from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 2nd. Deutsche Bank Aktiengesellschaft cut their price target on shares of General Mills from $52.00 to $50.00 and set a “hold” rating for the company in a report on Thursday, September 18th. UBS Group decreased their price target on shares of General Mills from $49.00 to $47.00 and set a “sell” rating on the stock in a report on Thursday, September 18th. Finally, Mizuho dropped their price objective on General Mills from $57.00 to $52.00 and set a “neutral” rating for the company in a research note on Friday, September 19th. Four analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $55.82.

Insider Transactions at General Mills

In other General Mills news, insider Jacqueline Williams-Roll sold 4,000 shares of the business’s stock in a transaction dated 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 owned 66,593 shares in the company, valued at approximately $3,332,313.72. The trade was a 5.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.30% of the stock is currently 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.