SPC Financial Inc. Buys 293 Shares of General Mills, Inc. $GIS

SPC Financial Inc. raised its stake in shares of General Mills, Inc. (NYSE:GIS) by 2.2% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 13,745 shares of the company’s stock after acquiring an additional 293 shares during the period. SPC Financial Inc.’s holdings in General Mills were worth $712,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of GIS. Charles Schwab Investment Management Inc. lifted its stake in General Mills by 434.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 19,041,194 shares of the company’s stock valued at $1,138,473,000 after acquiring an additional 15,480,835 shares during the period. Diamond Hill Capital Management Inc. bought a new position in General Mills during the 1st quarter valued at about $279,570,000. Pacer Advisors Inc. lifted its stake in General Mills by 4,775.2% during the 1st quarter. Pacer Advisors Inc. now owns 3,443,981 shares of the company’s stock valued at $205,916,000 after acquiring an additional 3,373,338 shares during the period. Nuveen LLC bought a new position in General Mills during the 1st quarter valued at about $92,717,000. Finally, Federated Hermes Inc. lifted its stake in General Mills by 178.1% during the 1st quarter. Federated Hermes Inc. now owns 1,520,449 shares of the company’s stock valued at $90,908,000 after acquiring an additional 973,798 shares during the period. Institutional investors own 75.71% of the company’s stock.

General Mills Trading Up 0.3%

General Mills stock opened at $49.37 on Friday. The firm has a 50 day moving average of $49.78 and a 200 day moving average of $52.71. The firm has a market capitalization of $26.33 billion, a price-to-earnings ratio of 9.33, a P/E/G ratio of 1.24 and a beta of -0.03. General Mills, Inc. has a 12-month low of $48.29 and a 12-month high of $72.55. 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 released its earnings results on Wednesday, September 17th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.04. The company had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.52 billion. General Mills had a net margin of 15.24% and a return on equity of 23.46%. The firm’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.07 EPS. As a group, research analysts predict 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, November 3rd. Shareholders of record on Friday, October 10th will be issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend is Friday, October 10th. General Mills’s dividend payout ratio (DPR) is 46.12%.

Insider Transactions at General Mills

In other General Mills news, insider Jacqueline Williams-Roll sold 4,000 shares of the stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $50.04, for a total transaction of $200,160.00. Following the completion of the sale, the insider directly owned 66,593 shares of the company’s stock, valued at $3,332,313.72. This trade represents a 5.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Wells Fargo & Company set a $53.00 target price on shares of General Mills and gave the company an “equal weight” rating in a research note on Thursday, June 26th. Wall Street Zen upgraded shares of General Mills from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. Mizuho lowered their price objective on shares of General Mills from $57.00 to $52.00 and set a “neutral” rating on the stock in a research note on Friday, September 19th. Weiss Ratings reiterated a “hold (c-)” rating on shares of General Mills in a research note on Wednesday. Finally, Bank of America lowered their price objective on shares of General Mills from $63.00 to $61.00 and set a “buy” rating on the stock in a research note on Thursday, June 26th. Four investment 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. Based on data from MarketBeat, the stock presently has a consensus 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.