Resonant Capital Advisors LLC Boosts Position in General Mills, Inc. $GIS

Resonant Capital Advisors LLC lifted its stake in shares of General Mills, Inc. (NYSE:GIS) by 48.1% during the second quarter, HoldingsChannel.com reports. The fund owned 9,967 shares of the company’s stock after buying an additional 3,237 shares during the quarter. Resonant Capital Advisors LLC’s holdings in General Mills were worth $516,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. GAMMA Investing LLC increased its holdings in 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 during the period. Golden State Wealth Management LLC increased its holdings in General Mills by 150.7% during the 1st quarter. Golden State Wealth Management LLC now owns 945 shares of the company’s stock worth $57,000 after purchasing an additional 568 shares during the period. Perigon Wealth Management LLC increased its stake in shares of General Mills by 15.1% during the first quarter. Perigon Wealth Management LLC now owns 19,505 shares of the company’s stock valued at $1,166,000 after buying an additional 2,565 shares during the period. Creative Financial Designs Inc. ADV increased its stake in shares of General Mills by 199.4% during the first quarter. Creative Financial Designs Inc. ADV now owns 922 shares of the company’s stock valued at $55,000 after buying an additional 614 shares during the period. Finally, Perpetual Ltd increased its stake in shares of General Mills by 3.5% during the first quarter. Perpetual Ltd now owns 5,411 shares of the company’s stock valued at $324,000 after buying an additional 184 shares during the period. 75.71% of the stock is owned by hedge funds and other institutional investors.

General Mills Price Performance

NYSE GIS opened at $47.42 on Monday. The firm’s fifty day simple moving average is $49.53 and its two-hundred day simple moving average is $51.93. 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, Inc. has a 12-month low of $47.27 and a 12-month high of $68.96. The firm has a market capitalization of $25.30 billion, a P/E ratio of 8.96, a P/E/G ratio of 1.20 and a beta of -0.03.

General Mills (NYSE:GIS) last announced its earnings results 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. 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 for the quarter, compared to the consensus estimate of $4.52 billion. During the same period in the previous year, the business earned $1.07 EPS. The firm’s revenue for the quarter was down 6.8% on a year-over-year basis. Analysts forecast that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 5.1%. The ex-dividend date of this dividend is Friday, October 10th. General Mills’s payout ratio is currently 46.12%.

Analysts Set New Price Targets

A number of research firms have commented on GIS. Zacks Research raised shares of General Mills from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 2nd. Weiss Ratings reissued a “hold (c-)” rating on shares of General Mills in a research report on Saturday. UBS Group dropped their price objective on shares of General Mills from $49.00 to $47.00 and set a “sell” rating on the stock in a research note on Thursday, September 18th. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $45.00 price objective (down from $53.00) on shares of General Mills in a research note on Wednesday, August 20th. Finally, Jefferies Financial Group dropped their target price on General Mills from $51.00 to $50.00 and set a “hold” rating on the stock in a research report on Monday, September 8th. Four investment 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 MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $55.82.

Insiders Place Their Bets

In other 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 transaction of $200,160.00. Following the sale, the insider directly owned 66,593 shares of the company’s stock, valued at $3,332,313.72. The trade was a 5.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.