IFP Advisors Inc Acquires 1,842 Shares of General Mills, Inc. (GIS)
IFP Advisors Inc lifted its holdings in shares of General Mills, Inc. (NYSE:GIS) by 10.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,161 shares of the company’s stock after buying an additional 1,842 shares during the quarter. IFP Advisors Inc’s holdings in General Mills were worth $892,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the stock. BlackRock Inc. lifted its stake in General Mills by 9.3% in the 1st quarter. BlackRock Inc. now owns 47,261,193 shares of the company’s stock worth $2,129,588,000 after purchasing an additional 4,033,152 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in General Mills by 2.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 23,682,121 shares of the company’s stock worth $1,048,171,000 after purchasing an additional 598,315 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in General Mills by 0.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 7,644,795 shares of the company’s stock worth $338,359,000 after purchasing an additional 46,939 shares in the last quarter. Schroder Investment Management Group lifted its stake in General Mills by 36.4% in the 1st quarter. Schroder Investment Management Group now owns 4,915,769 shares of the company’s stock worth $221,504,000 after purchasing an additional 1,311,067 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its stake in General Mills by 22.8% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 3,794,743 shares of the company’s stock worth $170,992,000 after purchasing an additional 705,650 shares in the last quarter. Institutional investors own 70.40% of the company’s stock.
General Mills stock opened at $47.58 on Tuesday. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.34 and a current ratio of 0.56. The firm has a market cap of $28.14 billion, a PE ratio of 15.18, a P/E/G ratio of 1.82 and a beta of 0.77. General Mills, Inc. has a fifty-two week low of $41.01 and a fifty-two week high of $60.69.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 1st. Stockholders of record on Tuesday, July 10th were given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 4.12%. The ex-dividend date was Monday, July 9th. General Mills’s dividend payout ratio (DPR) is currently 63.02%.
In other news, insider Kofi A. Bruce sold 2,200 shares of the firm’s stock in a transaction on Friday, August 3rd. The shares were sold at an average price of $47.28, for a total transaction of $104,016.00. Following the sale, the insider now owns 19,660 shares in the company, valued at approximately $929,524.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Shawn P. Ogrady sold 82,244 shares of the stock in a transaction on Thursday, June 28th. The shares were sold at an average price of $45.50, for a total transaction of $3,742,102.00. Following the transaction, the insider now directly owns 187,948 shares in the company, valued at approximately $8,551,634. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 158,018 shares of company stock worth $7,114,487. Corporate insiders own 0.59% of the company’s stock.
Several analysts have issued reports on the stock. Bank of America reiterated a “hold” rating and issued a $49.00 target price on shares of General Mills in a research note on Wednesday, June 27th. Jefferies Financial Group reiterated a “buy” rating and issued a $55.00 target price on shares of General Mills in a research note on Wednesday, June 27th. Zacks Investment Research upgraded shares of General Mills from a “sell” rating to a “hold” rating in a research note on Tuesday, June 26th. Piper Jaffray Companies set a $45.00 target price on shares of General Mills and gave the stock a “hold” rating in a research note on Thursday, July 12th. Finally, Sanford C. Bernstein reiterated a “sell” rating on shares of General Mills in a research note on Tuesday, July 10th. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $50.71.
About General Mills
General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.
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