SPC Financial Inc. Boosts Stock Position in General Mills, Inc. $GIS

SPC Financial Inc. lifted its holdings in General Mills, Inc. (NYSE:GIS) by 2.2% in the second quarter, HoldingsChannel reports. The firm owned 13,745 shares of the company’s stock after purchasing an additional 293 shares during the quarter. SPC Financial Inc.’s holdings in General Mills were worth $712,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Garde Capital Inc. grew its holdings in shares of General Mills by 101.5% in the second quarter. Garde Capital Inc. now owns 524 shares of the company’s stock valued at $27,000 after purchasing an additional 264 shares in the last quarter. Smallwood Wealth Investment Management LLC purchased a new position in shares of General Mills in the first quarter valued at $34,000. GKV Capital Management Co. Inc. purchased a new position in shares of General Mills in the first quarter valued at $34,000. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of General Mills in the first quarter valued at $37,000. Finally, Pingora Partners LLC grew its holdings in shares of General Mills by 416.7% in the first quarter. Pingora Partners LLC now owns 620 shares of the company’s stock valued at $37,000 after purchasing an additional 500 shares in the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GIS. Stifel Nicolaus lowered their price target on General Mills from $65.00 to $56.00 and set a “buy” rating for the company in a research report on Thursday, June 26th. Royal Bank Of Canada upgraded General Mills from a “sector perform” rating to an “outperform” rating and lowered their price target for the stock from $67.00 to $63.00 in a research report on Thursday, June 26th. Bank of America lowered their price target on General Mills from $63.00 to $61.00 and set a “buy” rating for the company in a research report on Thursday, June 26th. Zacks Research upgraded General Mills from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 2nd. Finally, Jefferies Financial Group lowered their price target on General Mills from $51.00 to $50.00 and set a “hold” rating for the company in a research report on Monday, September 8th. 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $55.82.

General Mills Stock Up 0.3%

NYSE:GIS opened at $49.37 on Friday. General Mills, Inc. has a twelve month low of $48.29 and a twelve month high of $72.55. The company 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. The stock has a fifty day simple moving average of $49.78 and a 200-day simple moving average of $52.71. 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 announced its quarterly earnings results 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 for the quarter, compared to analyst estimates of $4.52 billion. General Mills had a return on equity of 23.46% and a net margin of 15.24%.The business’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.07 earnings per share. Analysts anticipate that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Announces Dividend

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

Insider Activity at General Mills

In other news, insider Jacqueline Williams-Roll sold 4,000 shares of the firm’s 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 transaction, the insider owned 66,593 shares in the company, valued at approximately $3,332,313.72. This trade represents a 5.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.30% of the company’s stock.

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.