General Mills, Inc. (GIS) Position Increased by IFP Advisors Inc

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IFP Advisors Inc increased its position in shares of General Mills, Inc. (NYSE:GIS) by 16.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 23,513 shares of the company’s stock after buying an additional 3,352 shares during the quarter. IFP Advisors Inc’s holdings in General Mills were worth $1,009,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Acadian Asset Management LLC bought a new stake in shares of General Mills during the 2nd quarter worth $115,000. Adviser Investments LLC boosted its holdings in shares of General Mills by 158.7% during the 2nd quarter. Adviser Investments LLC now owns 2,608 shares of the company’s stock worth $115,000 after buying an additional 1,600 shares during the period. CSat Investment Advisory L.P. bought a new stake in shares of General Mills during the 2nd quarter worth $118,000. Kiley Juergens Wealth Management LLC boosted its holdings in shares of General Mills by 108.2% during the 3rd quarter. Kiley Juergens Wealth Management LLC now owns 3,017 shares of the company’s stock worth $129,000 after buying an additional 1,568 shares during the period. Finally, American National Bank bought a new stake in shares of General Mills during the 2nd quarter worth $138,000. 70.87% of the stock is owned by institutional investors and hedge funds.

In other news, insider Kofi A. Bruce sold 2,200 shares of the stock in a transaction on Friday, August 3rd. The shares were sold at an average price of $47.28, for a total value of $104,016.00. Following the completion of the transaction, the insider now owns 19,660 shares in the company, valued at approximately $929,524.80. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Maria Sastre acquired 1,000 shares of the company’s stock in a transaction dated Monday, August 20th. The stock was acquired at an average price of $47.37 per share, with a total value of $47,370.00. Following the purchase, the director now owns 1,000 shares in the company, valued at approximately $47,370. The disclosure for this purchase can be found here. Corporate insiders own 0.59% of the company’s stock.

Several research firms recently issued reports on GIS. Zacks Investment Research downgraded shares of General Mills from a “hold” rating to a “sell” rating in a report on Tuesday, August 28th. UBS Group set a $46.00 price objective on shares of General Mills and gave the stock a “hold” rating in a report on Wednesday, September 19th. Morgan Stanley began coverage on shares of General Mills in a report on Monday, September 17th. They issued an “equal weight” rating and a $48.00 price target for the company. Credit Suisse Group set a $46.00 price target on shares of General Mills and gave the company a “hold” rating in a report on Thursday, September 13th. Finally, ValuEngine raised shares of General Mills from a “strong sell” rating to a “sell” rating in a report on Friday, September 7th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and four have assigned a buy rating to the stock. General Mills currently has an average rating of “Hold” and a consensus target price of $50.29.

Shares of General Mills stock opened at $43.80 on Thursday. The company has a quick ratio of 0.35, a current ratio of 0.58 and a debt-to-equity ratio of 1.93. General Mills, Inc. has a fifty-two week low of $41.01 and a fifty-two week high of $60.69. The firm has a market capitalization of $25.95 billion, a price-to-earnings ratio of 14.08, a P/E/G ratio of 1.85 and a beta of 0.77.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Tuesday, September 18th. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.07. General Mills had a net margin of 13.19% and a return on equity of 31.84%. The firm had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.12 billion. During the same period in the prior year, the firm earned $0.71 EPS. The business’s revenue was up 8.6% on a year-over-year basis. On average, equities research analysts expect that General Mills, Inc. will post 3.07 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 1st. Stockholders of record on Wednesday, October 10th will be paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date of this dividend is Tuesday, October 9th. General Mills’s dividend payout ratio is 63.02%.

About General Mills

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.

Further Reading: How is Preferred Stock Different from Common Stock?

Want to see what other hedge funds are holding GIS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Mills, Inc. (NYSE:GIS).

Institutional Ownership by Quarter for General Mills (NYSE:GIS)

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