General Mills, Inc. (NYSE:GIS) Shares Bought by Secure Asset Management LLC

Secure Asset Management LLC lifted its holdings in General Mills, Inc. (NYSE:GIS) by 5.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,305 shares of the company’s stock after purchasing an additional 157 shares during the quarter. Secure Asset Management LLC’s holdings in General Mills were worth $209,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. JB Capital LLC grew its position in General Mills by 2.3% in the 2nd quarter. JB Capital LLC now owns 48,792 shares of the company’s stock valued at $3,087,000 after buying an additional 1,089 shares in the last quarter. My Legacy Advisors LLC acquired a new stake in shares of General Mills in the 2nd quarter worth approximately $898,000. &PARTNERS boosted its holdings in shares of General Mills by 39.0% in the second quarter. &PARTNERS now owns 23,070 shares of the company’s stock valued at $1,459,000 after acquiring an additional 6,475 shares in the last quarter. Cultivar Capital Inc. acquired a new position in shares of General Mills during the second quarter valued at approximately $51,000. Finally, 1620 Investment Advisors Inc. acquired a new position in shares of General Mills during the second quarter valued at approximately $47,000. 75.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on GIS. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 price target on shares of General Mills in a research note on Thursday, June 27th. Stifel Nicolaus decreased their target price on General Mills from $77.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, June 27th. Bank of America lowered their target price on General Mills from $70.00 to $68.00 and set a “neutral” rating on the stock in a report on Thursday, June 27th. Barclays lowered their target price on General Mills from $72.00 to $67.00 and set an “equal weight” rating on the stock in a report on Friday, June 28th. Finally, JPMorgan Chase & Co. lowered their target price on General Mills from $70.00 to $63.00 and set a “neutral” rating on the stock in a report on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, General Mills presently has a consensus rating of “Hold” and an average price target of $69.71.

General Mills Trading Up 0.2 %

NYSE GIS traded up $0.16 on Friday, hitting $70.83. 1,929,011 shares of the stock were exchanged, compared to its average volume of 3,995,006. The company’s 50-day moving average price is $66.33 and its two-hundred day moving average price is $67.22. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.65 and a quick ratio of 0.38. General Mills, Inc. has a 52-week low of $60.33 and a 52-week high of $74.45. The company has a market capitalization of $39.53 billion, a price-to-earnings ratio of 16.43, a P/E/G ratio of 3.83 and a beta of 0.09.

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

General Mills Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.39%. This is a positive change from General Mills’s previous quarterly dividend of $0.59. The ex-dividend date was Wednesday, July 10th. General Mills’s dividend payout ratio is 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.