Welch Group LLC Purchases 14,130 Shares of General Mills, Inc. $GIS

Welch Group LLC raised its position in shares of General Mills, Inc. (NYSE:GIS) by 1.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 777,702 shares of the company’s stock after acquiring an additional 14,130 shares during the quarter. Welch Group LLC owned about 0.14% of General Mills worth $40,293,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC boosted its position in shares of General Mills by 12.2% during the 1st quarter. GAMMA Investing LLC now owns 19,597 shares of the company’s stock worth $1,172,000 after purchasing an additional 2,127 shares in the last quarter. Integrated Advisors Network LLC bought a new position in shares of General Mills during the 1st quarter worth about $206,000. CX Institutional bought a new position in shares of General Mills during the 1st quarter worth about $216,000. Krilogy Financial LLC boosted its position in shares of General Mills by 4.3% during the 1st quarter. Krilogy Financial LLC now owns 14,489 shares of the company’s stock worth $866,000 after purchasing an additional 593 shares in the last quarter. Finally, Dover Advisors LLC bought a new position in shares of General Mills during the 1st quarter worth about $249,000. Institutional investors own 75.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on GIS shares. JPMorgan Chase & Co. reissued an “underweight” rating and set a $45.00 price objective (down previously from $53.00) on shares of General Mills in a research report on Wednesday, August 20th. Jefferies Financial Group dropped their price target on shares of General Mills from $51.00 to $50.00 and set a “hold” rating on the stock in a research report on Monday, September 8th. 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 report on Friday, September 19th. Wall Street Zen raised shares of General Mills from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Finally, UBS Group dropped their price target on shares of General Mills from $49.00 to $47.00 and set a “sell” rating on the stock in a research report on Thursday, September 18th. 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. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $55.82.

Insider Buying and Selling

In related news, insider Jacqueline Williams-Roll sold 4,000 shares of the firm’s stock in a transaction that occurred on 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. This trade represents a 5.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.30% of the company’s stock.

General Mills Trading Up 0.3%

NYSE:GIS opened at $49.37 on Monday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.40 and a current ratio of 0.66. The firm has a market cap of $26.33 billion, a price-to-earnings ratio of 9.33, a price-to-earnings-growth ratio of 1.24 and a beta of -0.03. General Mills, Inc. has a 52 week low of $48.29 and a 52 week high of $72.55. The firm has a 50-day moving average price of $49.78 and a two-hundred day moving average price of $52.66.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, September 17th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.82 by $0.04. The firm 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 company’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same quarter last year, the business posted $1.07 EPS. On average, equities analysts expect that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be issued a $0.61 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $2.44 annualized dividend and a yield of 4.9%. General Mills’s dividend payout ratio (DPR) 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.