Sovereign Financial Group Inc. Has $996,000 Holdings in General Mills, Inc. $GIS

Sovereign Financial Group Inc. lessened its stake in General Mills, Inc. (NYSE:GIS) by 8.9% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 19,225 shares of the company’s stock after selling 1,887 shares during the quarter. Sovereign Financial Group Inc.’s holdings in General Mills were worth $996,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Concurrent Investment Advisors LLC boosted its holdings in shares of General Mills by 1.3% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 17,001 shares of the company’s stock valued at $881,000 after buying an additional 226 shares during the last quarter. Lindenwold Advisors INC boosted its holdings in shares of General Mills by 2.3% in the 2nd quarter. Lindenwold Advisors INC now owns 33,412 shares of the company’s stock valued at $1,731,000 after buying an additional 747 shares during the last quarter. Drucker Wealth 3.0 LLC acquired a new stake in shares of General Mills in the 2nd quarter valued at approximately $765,000. Aberdeen Group plc boosted its holdings in shares of General Mills by 16.2% in the 2nd quarter. Aberdeen Group plc now owns 665,608 shares of the company’s stock valued at $34,196,000 after buying an additional 92,905 shares during the last quarter. Finally, JB Capital LLC boosted its holdings in shares of General Mills by 2.7% in the 2nd quarter. JB Capital LLC now owns 56,048 shares of the company’s stock valued at $2,904,000 after buying an additional 1,474 shares during the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

Analyst Upgrades and Downgrades

GIS has been the topic of a number of research analyst reports. Bank of America dropped their price target on General Mills from $63.00 to $61.00 and set a “buy” rating on the stock in a research note on Thursday, June 26th. Wells Fargo & Company set a $53.00 price target on General Mills and gave the company an “equal weight” rating in a research note on Thursday, June 26th. Bernstein Bank dropped their price target on General Mills from $55.00 to $54.00 and set a “market perform” rating on the stock in a research note on Thursday, September 18th. Stifel Nicolaus dropped their price target on General Mills from $65.00 to $56.00 and set a “buy” rating on the stock in a research note on Thursday, June 26th. Finally, Morgan Stanley dropped their price target 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. Four investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $55.82.

Insider Activity

In other news, insider Jacqueline Williams-Roll sold 4,000 shares of the stock in a transaction on Friday, September 19th. The stock was sold at an average price of $50.04, for a total transaction of $200,160.00. Following the sale, the insider directly owned 66,593 shares of the company’s stock, valued at approximately $3,332,313.72. This represents a 5.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.30% of the company’s stock.

General Mills Stock Up 0.3%

GIS stock opened at $49.37 on Friday. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.66 and a quick ratio of 0.40. The stock has a market capitalization of $26.33 billion, a price-to-earnings ratio of 9.33, a PEG ratio of 1.24 and a beta of -0.03. The business’s fifty day moving average price is $49.78 and its two-hundred day moving average price is $52.71. General Mills, Inc. has a fifty-two week low of $48.29 and a fifty-two week high of $72.55.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, September 17th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.04. The firm had revenue of $4.52 billion for the quarter, compared to analysts’ expectations of $4.52 billion. General Mills had a return on equity of 23.46% and a net margin of 15.24%.The company’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.07 EPS. On average, equities analysts anticipate that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend is Friday, October 10th. General Mills’s dividend payout ratio is 46.12%.

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.