Global Retirement Partners LLC Takes $1.81 Million Position in General Mills, Inc. $GIS

Global Retirement Partners LLC acquired a new position in shares of General Mills, Inc. (NYSE:GIS) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 35,014 shares of the company’s stock, valued at approximately $1,814,000.

Other large investors have also bought and sold shares of the company. Kera Capital Partners Inc. acquired a new position in General Mills during the 2nd quarter worth approximately $222,000. Commonwealth Equity Services LLC boosted its position in General Mills by 7.8% in the first quarter. Commonwealth Equity Services LLC now owns 452,844 shares of the company’s stock valued at $27,076,000 after buying an additional 32,628 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in shares of General Mills by 22.6% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 383,877 shares of the company’s stock worth $19,889,000 after buying an additional 70,800 shares during the last quarter. Callan Family Office LLC acquired a new position in shares of General Mills during the second quarter worth $439,000. Finally, CHICAGO TRUST Co NA acquired a new stake in shares of General Mills during the 2nd quarter valued at $267,000. 75.71% of the stock is owned by institutional investors and hedge funds.

General Mills Price Performance

Shares of GIS opened at $47.20 on Thursday. The business has a 50-day moving average of $48.35 and a 200-day moving average of $50.40. 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 company has a market capitalization of $25.17 billion, a price-to-earnings ratio of 8.92, a price-to-earnings-growth ratio of 1.17 and a beta of -0.04. General Mills, Inc. has a 1 year low of $45.80 and a 1 year high of $67.40.

General Mills (NYSE:GIS) last released its earnings results on Wednesday, September 17th. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. General Mills had a net margin of 15.24% and a return on equity of 23.46%. The business 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 firm posted $1.07 EPS. The company’s revenue for the quarter was down 6.8% compared to the same quarter last year. As a group, equities research analysts anticipate that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Friday, January 9th will be given a dividend of $0.61 per share. The ex-dividend date is Friday, January 9th. This represents a $2.44 annualized dividend and a dividend yield of 5.2%. General Mills’s dividend payout ratio is 46.12%.

Insiders Place Their Bets

In related news, insider Jacqueline Williams-Roll sold 4,000 shares of the business’s stock in a transaction 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 transaction, the insider 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GIS. Deutsche Bank Aktiengesellschaft reduced their price objective on General Mills from $52.00 to $50.00 and set a “hold” rating on the stock in a research report on Thursday, September 18th. JPMorgan Chase & Co. restated an “underweight” rating and set a $45.00 price target (down from $53.00) on shares of General Mills in a report on Wednesday, August 20th. Morgan Stanley lowered their price objective on General Mills from $49.00 to $48.00 and set an “underweight” rating for the company in a research note on Monday, September 15th. Bernstein Bank cut their target price on shares of General Mills from $55.00 to $54.00 and set a “market perform” rating on the stock in a research report on Thursday, September 18th. Finally, HSBC reduced their target price on shares of General Mills from $59.00 to $57.00 and set a “hold” rating on the stock in a report on Thursday, September 18th. Four equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, General Mills currently 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.