Portside Wealth Group LLC Purchases 1,917 Shares of General Mills, Inc. $GIS

Portside Wealth Group LLC increased its position in shares of General Mills, Inc. (NYSE:GIS) by 14.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,115 shares of the company’s stock after buying an additional 1,917 shares during the quarter. Portside Wealth Group LLC’s holdings in General Mills were worth $783,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Kestra Private Wealth Services LLC grew its position in General Mills by 32.4% in the 1st quarter. Kestra Private Wealth Services LLC now owns 42,992 shares of the company’s stock valued at $2,570,000 after purchasing an additional 10,529 shares during the period. J.W. Cole Advisors Inc. lifted its stake in shares of General Mills by 98.0% in the first quarter. J.W. Cole Advisors Inc. now owns 21,493 shares of the company’s stock valued at $1,285,000 after buying an additional 10,640 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in shares of General Mills by 4.1% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 42,895 shares of the company’s stock valued at $2,564,000 after buying an additional 1,693 shares in the last quarter. KLP Kapitalforvaltning AS grew its holdings in shares of General Mills by 3.3% during the first quarter. KLP Kapitalforvaltning AS now owns 607,718 shares of the company’s stock valued at $36,335,000 after buying an additional 19,400 shares during the last quarter. Finally, M. Kulyk & Associates LLC increased its position in shares of General Mills by 9.3% during the first quarter. M. Kulyk & Associates LLC now owns 83,477 shares of the company’s stock worth $4,991,000 after acquiring an additional 7,071 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Stock Performance

Shares of GIS opened at $47.74 on Wednesday. The stock has a 50 day moving average of $48.62 and a 200 day moving average of $50.68. The company has a market capitalization of $25.47 billion, a price-to-earnings ratio of 9.03, a PEG ratio of 1.17 and a beta of -0.04. General Mills, Inc. has a 12 month low of $45.80 and a 12 month high of $67.40. 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 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 during the quarter, compared to the consensus estimate of $4.52 billion. During the same quarter in the prior year, the company earned $1.07 EPS. The business’s revenue for the quarter was down 6.8% on a year-over-year basis. As a group, sell-side analysts forecast that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Investors 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 yield of 5.1%. The ex-dividend date is Friday, January 9th. General Mills’s dividend payout ratio (DPR) is 46.12%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. HSBC dropped their price target on shares of General Mills from $59.00 to $57.00 and set a “hold” rating on the stock in a research report on Thursday, September 18th. 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. Zacks Research raised General Mills from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 2nd. UBS Group lowered their price target on General Mills from $49.00 to $47.00 and set a “sell” rating for the company in a research report on Thursday, September 18th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of General Mills in a research report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, General Mills presently has an average rating of “Hold” and an average target price of $55.82.

Insider Buying and Selling

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 directly owned 66,593 shares in the company, valued at $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 is available through the SEC website. Corporate insiders own 0.30% of the company’s stock.

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.