Allworth Financial LP Has $1.20 Million Position in General Mills, Inc. $GIS

Allworth Financial LP grew its position in shares of General Mills, Inc. (NYSE:GIS) by 6.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,246 shares of the company’s stock after purchasing an additional 1,312 shares during the quarter. Allworth Financial LP’s holdings in General Mills were worth $1,204,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Benjamin Edwards Inc. grew its holdings in General Mills by 0.4% during the 1st quarter. Benjamin Edwards Inc. now owns 52,298 shares of the company’s stock worth $3,127,000 after acquiring an additional 185 shares during the last quarter. Eastern Bank grew its stake in shares of General Mills by 0.8% in the first quarter. Eastern Bank now owns 24,817 shares of the company’s stock worth $1,484,000 after purchasing an additional 186 shares during the last quarter. SPC Financial Inc. increased its holdings in General Mills by 1.5% in the first quarter. SPC Financial Inc. now owns 13,452 shares of the company’s stock valued at $804,000 after purchasing an additional 193 shares during the period. Arkfeld Wealth Strategies L.L.C. raised its position in General Mills by 5.0% during the 2nd quarter. Arkfeld Wealth Strategies L.L.C. now owns 4,184 shares of the company’s stock worth $217,000 after purchasing an additional 200 shares during the last quarter. Finally, ICW Investment Advisors LLC raised its position in General Mills by 0.8% during the 1st quarter. ICW Investment Advisors LLC now owns 24,733 shares of the company’s stock worth $1,479,000 after purchasing an additional 202 shares during the last quarter. 75.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GIS has been the subject of several recent research reports. HSBC decreased their price target on General Mills from $59.00 to $57.00 and set a “hold” rating for the company in a research note on Thursday, September 18th. Zacks Research upgraded General Mills from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 2nd. Mizuho lowered their price target on shares of General Mills from $57.00 to $52.00 and set a “neutral” rating for the company in a report on Friday, September 19th. Weiss Ratings restated a “hold (c-)” rating on shares of General Mills in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $45.00 price objective (down from $53.00) on shares of General Mills in a research note on Wednesday, August 20th. Four research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, General Mills currently has an average rating of “Hold” and a consensus target price of $55.82.

Insider Transactions at General Mills

In related news, insider Jacqueline Williams-Roll sold 4,000 shares of General Mills stock in a transaction 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 completion of the sale, the insider owned 66,593 shares of the company’s stock, valued at approximately $3,332,313.72. This trade represents a 5.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.30% of the company’s stock.

General Mills Trading Up 1.8%

NYSE:GIS opened at $47.33 on Friday. The firm has a fifty day simple moving average of $48.80 and a two-hundred day simple moving average of $50.93. General Mills, Inc. has a 12 month low of $45.80 and a 12 month high of $67.40. The stock has a market capitalization of $25.25 billion, a price-to-earnings ratio of 8.95, a PEG ratio of 1.17 and a beta of -0.04. 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 (NYSE:GIS) last issued its earnings results on Wednesday, September 17th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.82 by $0.04. General Mills had a return on equity of 23.46% and a net margin of 15.24%.The company had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.52 billion. During the same period last year, the business posted $1.07 EPS. The firm’s revenue for the quarter was down 6.8% compared to the same quarter last year. Analysts expect that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 10th were issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date was Friday, October 10th. General Mills’s dividend payout ratio (DPR) is currently 46.12%.

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.