General Mills, Inc. $GIS Shares Purchased by Portfolio Design Labs LLC

Portfolio Design Labs LLC grew its stake in shares of General Mills, Inc. (NYSE:GIS) by 13.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 77,189 shares of the company’s stock after purchasing an additional 8,868 shares during the quarter. Portfolio Design Labs LLC’s holdings in General Mills were worth $3,999,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of GIS. Benjamin Edwards Inc. raised its holdings in shares of General Mills by 0.4% during the 1st quarter. Benjamin Edwards Inc. now owns 52,298 shares of the company’s stock valued at $3,127,000 after buying an additional 185 shares during the period. Arkfeld Wealth Strategies L.L.C. grew its position in General Mills by 5.0% in the second quarter. Arkfeld Wealth Strategies L.L.C. now owns 4,184 shares of the company’s stock valued at $217,000 after acquiring an additional 200 shares in the last quarter. ICW Investment Advisors LLC raised its stake in shares of General Mills by 0.8% during the first quarter. ICW Investment Advisors LLC now owns 24,733 shares of the company’s stock valued at $1,479,000 after purchasing an additional 202 shares during the period. J2 Capital Management Inc lifted its position in shares of General Mills by 3.1% during the second quarter. J2 Capital Management Inc now owns 6,846 shares of the company’s stock worth $355,000 after purchasing an additional 203 shares in the last quarter. Finally, Alpha Omega Wealth Management LLC boosted its stake in shares of General Mills by 5.0% in the second quarter. Alpha Omega Wealth Management LLC now owns 4,414 shares of the company’s stock valued at $229,000 after purchasing an additional 209 shares during the period. Hedge funds and other institutional investors own 75.71% of the company’s stock.

General Mills Trading Down 0.5%

NYSE:GIS opened at $47.11 on Tuesday. The company has a market cap of $25.13 billion, a PE ratio of 8.91, a P/E/G ratio of 1.17 and a beta of -0.04. The business’s 50 day moving average is $48.18 and its two-hundred day moving average is $50.23. 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, Inc. has a 52 week low of $45.80 and a 52 week high of $67.40.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, September 17th. The company reported $0.86 earnings per share (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 business had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.52 billion. During the same period in the prior year, the company posted $1.07 EPS. The business’s revenue was down 6.8% compared to the same quarter last year. On average, analysts predict that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Announces Dividend

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

Insider Activity

In other news, insider Jacqueline Williams-Roll sold 4,000 shares of General Mills 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 completion of the transaction, the insider directly owned 66,593 shares of the company’s stock, valued at approximately $3,332,313.72. The trade was a 5.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

GIS has been the topic of several analyst reports. Barclays dropped their price target on shares of General Mills from $54.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Friday, September 19th. Morgan Stanley lowered their target price on General Mills from $49.00 to $48.00 and set an “underweight” rating for the company in a research note on Monday, September 15th. Jefferies Financial Group cut their price target on General Mills from $51.00 to $50.00 and set a “hold” rating on the stock in a research note on Monday, September 8th. Mizuho lowered 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. Finally, Wall Street Zen upgraded General Mills from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Four investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $55.82.

General Mills Company 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.