Interchange Capital Partners LLC Makes New Investment in General Mills, Inc. $GIS

Interchange Capital Partners LLC purchased a new stake in shares of General Mills, Inc. (NYSE:GIS) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 919 shares of the company’s stock, valued at approximately $48,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GIS. Garde Capital Inc. lifted its holdings in shares of General Mills by 101.5% during 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. Armstrong Advisory Group Inc. bought a new position in shares of General Mills during the second quarter valued at $32,000. Smallwood Wealth Investment Management LLC bought a new position in shares of General Mills during the first quarter valued at $34,000. GKV Capital Management Co. Inc. bought a new position in shares of General Mills during the first quarter valued at $34,000. Finally, MJT & Associates Financial Advisory Group Inc. bought a new position in shares of General Mills during the first quarter valued at $37,000. 75.71% of the stock is owned by institutional investors.

General Mills Stock Down 1.6%

General Mills stock opened at $47.80 on Thursday. The stock has a market cap of $25.49 billion, a PE ratio of 9.03, a price-to-earnings-growth ratio of 1.22 and a beta of -0.03. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.40 and a current ratio of 0.66. General Mills, Inc. has a one year low of $47.71 and a one year high of $71.48. The stock has a fifty day moving average of $49.72 and a 200 day moving average of $52.53.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, September 17th. The company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. The company had revenue of $4.52 billion during the quarter, compared to analysts’ expectations of $4.52 billion. General Mills had a return on equity of 23.46% and a net margin of 15.24%.General Mills’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.07 earnings per share. As a group, sell-side analysts predict that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be given a $0.61 dividend. The ex-dividend date is Friday, October 10th. This represents a $2.44 dividend on an annualized basis and a yield of 5.1%. General Mills’s dividend payout ratio is presently 46.12%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GIS. Wells Fargo & Company set a $53.00 price target on General Mills and gave the company an “equal weight” rating in a report on Thursday, June 26th. UBS Group lowered their price target on General Mills from $49.00 to $47.00 and set a “sell” rating on the stock in a report on Thursday, September 18th. Stifel Nicolaus lowered their price target on General Mills from $65.00 to $56.00 and set a “buy” rating on the stock in a report on Thursday, June 26th. Jefferies Financial Group lowered their price target on General Mills from $51.00 to $50.00 and set a “hold” rating on the stock in a report on Monday, September 8th. Finally, Wall Street Zen upgraded 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 issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $55.82.

Insider Buying and Selling

In other General Mills news, insider Jacqueline Williams-Roll sold 4,000 shares of the company’s stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $50.04, for a total value of $200,160.00. Following the completion of the sale, the insider owned 66,593 shares in the company, valued at $3,332,313.72. This represents a 5.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.30% of the stock is currently owned by insiders.

General Mills Company 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.