Advisory Services Network LLC Has $3.19 Million Position in General Mills, Inc. $GIS

Advisory Services Network LLC raised its stake in General Mills, Inc. (NYSE:GIS) by 53.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 65,097 shares of the company’s stock after buying an additional 22,742 shares during the quarter. Advisory Services Network LLC’s holdings in General Mills were worth $3,188,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of GIS. Garde Capital Inc. boosted its holdings in General Mills by 101.5% during the second quarter. Garde Capital Inc. now owns 524 shares of the company’s stock worth $27,000 after purchasing an additional 264 shares during the last quarter. GKV Capital Management Co. Inc. acquired a new position in shares of General Mills during the 1st quarter worth about $34,000. Pingora Partners LLC grew its holdings in shares of General Mills by 416.7% in the 1st quarter. Pingora Partners LLC now owns 620 shares of the company’s stock valued at $37,000 after acquiring an additional 500 shares in the last quarter. Armstrong Advisory Group Inc. acquired a new stake in shares of General Mills in the second quarter valued at about $32,000. Finally, WPG Advisers LLC bought a new stake in General Mills during the first quarter worth about $50,000. 75.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity at General Mills

In related news, insider Jacqueline Williams-Roll sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $50.04, for a total value of $200,160.00. Following the sale, the insider directly owned 66,593 shares in the company, valued at $3,332,313.72. This 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 at this hyperlink. 0.30% of the stock is currently owned by corporate insiders.

General Mills Stock Performance

General Mills stock opened at $47.05 on Wednesday. The business’s 50-day moving average price is $47.28 and its two-hundred day moving average price is $49.63. The stock has a market cap of $25.10 billion, a PE ratio of 8.89, a P/E/G ratio of 0.88 and a beta of -0.07. General Mills, Inc. has a 12-month low of $45.15 and a 12-month high of $67.35. The company has a quick ratio of 0.40, a current ratio of 0.66 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 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 firm had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.52 billion. During the same quarter last year, the business posted $1.07 earnings per share. The company’s quarterly revenue was down 6.8% on a year-over-year basis. As a group, analysts expect that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Friday, January 9th will be given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend is Friday, January 9th. General Mills’s dividend payout ratio (DPR) is currently 46.12%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on GIS shares. Jefferies Financial Group cut their price objective on General Mills from $50.00 to $47.00 and set a “hold” rating for the company in a report on Thursday, December 11th. Morgan Stanley lowered their target price on General Mills from $49.00 to $48.00 and set an “underweight” rating on the stock in a research note on Monday, September 15th. Deutsche Bank Aktiengesellschaft reduced their price target on General Mills from $52.00 to $50.00 and set a “hold” rating for the company in a research note on Thursday, September 18th. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $45.00 price objective (down previously from $53.00) on shares of General Mills in a research report on Wednesday, August 20th. Finally, Wall Street Zen raised shares of General Mills from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Four research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, General Mills has an average rating of “Hold” and a consensus target price of $54.11.

General Mills Profile

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.