MGO One Seven LLC Has $1.86 Million Stock Position in General Mills, Inc. $GIS

MGO One Seven LLC lowered its stake in General Mills, Inc. (NYSE:GIS) by 1.9% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 35,799 shares of the company’s stock after selling 682 shares during the period. MGO One Seven LLC’s holdings in General Mills were worth $1,855,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Kera Capital Partners Inc. acquired a new position in General Mills in the 2nd quarter valued at about $222,000. Victory Capital Management Inc. grew its stake in General Mills by 7.3% in the 1st quarter. Victory Capital Management Inc. now owns 522,576 shares of the company’s stock valued at $31,245,000 after buying an additional 35,494 shares during the last quarter. Commonwealth Equity Services LLC grew its stake in General Mills by 7.8% in the 1st quarter. Commonwealth Equity Services LLC now owns 452,844 shares of the company’s stock valued at $27,076,000 after buying an additional 32,628 shares during the last quarter. Rock Point Advisors LLC acquired a new position in General Mills in the 1st quarter valued at about $3,610,000. Finally, OVERSEA CHINESE BANKING Corp Ltd grew its stake in General Mills by 126.1% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 774,134 shares of the company’s stock valued at $46,285,000 after buying an additional 431,693 shares during the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on GIS. Weiss Ratings reissued a “hold (c-)” rating on shares of General Mills in a report on Wednesday, October 8th. Royal Bank Of Canada upgraded shares of General Mills from a “sector perform” rating to an “outperform” rating and decreased their target price for the stock from $67.00 to $63.00 in a research report on Thursday, June 26th. Wells Fargo & Company set a $53.00 target price on shares of General Mills and gave the stock an “equal weight” rating in a research report on Thursday, June 26th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of General Mills from $52.00 to $50.00 and set a “hold” rating on the stock in a research report on Thursday, September 18th. Finally, Wall Street Zen upgraded shares of General Mills from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Four analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $55.82.

General Mills Stock Performance

Shares of General Mills stock opened at $48.58 on Wednesday. The company has a 50 day moving average of $49.75 and a 200-day moving average of $52.56. General Mills, Inc. has a 1-year low of $47.71 and a 1-year high of $72.55. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28. The company has a market cap of $25.91 billion, a PE ratio of 9.18, a price-to-earnings-growth ratio of 1.21 and a beta of -0.03.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, September 17th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. General Mills had a net margin of 15.24% and a return on equity of 23.46%. The company had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.52 billion. During the same quarter in the prior year, the firm posted $1.07 EPS. The firm’s quarterly revenue was down 6.8% on a year-over-year basis. As a group, equities research analysts forecast that General Mills, Inc. will post 4.36 earnings per share for the current fiscal 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 issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend is Friday, October 10th. General Mills’s dividend payout ratio is 46.12%.

Insider Buying and Selling at General Mills

In related news, insider Jacqueline Williams-Roll sold 4,000 shares of the stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $50.04, for a total value of $200,160.00. Following the completion of the transaction, the insider owned 66,593 shares of the company’s stock, valued at $3,332,313.72. This represents a 5.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.30% of the company’s stock.

About General Mills

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.