Fifth Third Wealth Advisors LLC Buys Shares of 5,852 General Mills, Inc. (NYSE:GIS)

Fifth Third Wealth Advisors LLC purchased a new position in General Mills, Inc. (NYSE:GIS) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,852 shares of the company’s stock, valued at approximately $370,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of GIS. International Assets Investment Management LLC boosted its stake in shares of General Mills by 7.4% during the fourth quarter. International Assets Investment Management LLC now owns 7,862 shares of the company’s stock valued at $512,000 after purchasing an additional 539 shares during the period. Tennessee Valley Asset Management Partners purchased a new stake in General Mills in the 4th quarter valued at about $69,000. J.W. Cole Advisors Inc. grew its stake in General Mills by 12.3% in the 4th quarter. J.W. Cole Advisors Inc. now owns 11,220 shares of the company’s stock worth $731,000 after acquiring an additional 1,229 shares in the last quarter. Lindbrook Capital LLC grew its stake in General Mills by 33.1% in the 4th quarter. Lindbrook Capital LLC now owns 3,300 shares of the company’s stock worth $215,000 after acquiring an additional 820 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of General Mills by 4.4% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 80,703 shares of the company’s stock worth $5,257,000 after acquiring an additional 3,438 shares during the period. 75.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on GIS shares. Sanford C. Bernstein raised General Mills from an “underperform” rating to a “market perform” rating and increased their price objective for the stock from $62.00 to $70.00 in a research note on Wednesday, May 15th. Argus reissued a “hold” rating on shares of General Mills in a research report on Tuesday, July 16th. Bank of America decreased their price objective on General Mills from $70.00 to $68.00 and set a “neutral” rating for the company in a report on Thursday, June 27th. Citigroup dropped their target price on shares of General Mills from $71.00 to $68.00 and set a “neutral” rating on the stock in a report on Thursday, June 27th. Finally, JPMorgan Chase & Co. cut their target price on shares of General Mills from $70.00 to $63.00 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $69.71.

General Mills Stock Up 1.0 %

Shares of General Mills stock traded up $0.69 during trading on Wednesday, reaching $70.65. The company’s stock had a trading volume of 2,963,830 shares, compared to its average volume of 4,021,151. General Mills, Inc. has a 1-year low of $60.33 and a 1-year high of $74.45. The company has a 50-day simple moving average of $66.12 and a two-hundred day simple moving average of $67.15. The company has a quick ratio of 0.38, a current ratio of 0.65 and a debt-to-equity ratio of 1.17. The company has a market cap of $39.43 billion, a price-to-earnings ratio of 16.39, a P/E/G ratio of 3.83 and a beta of 0.09.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, June 26th. The company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.02. General Mills had a return on equity of 26.56% and a net margin of 12.57%. The business had revenue of $4.71 billion during the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter last year, the company earned $1.12 earnings per share. The company’s quarterly revenue was down 6.3% on a year-over-year basis. As a group, equities analysts forecast that General Mills, Inc. will post 4.49 earnings per share for the current year.

General Mills Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were paid a dividend of $0.60 per share. This is a positive change from General Mills’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $2.40 dividend on an annualized basis and a yield of 3.40%. General Mills’s dividend payout ratio is presently 55.68%.

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.