General Mills, Inc. $GIS Shares Purchased by Sagespring Wealth Partners LLC

Sagespring Wealth Partners LLC boosted its holdings in General Mills, Inc. (NYSE:GIS) by 11.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,441 shares of the company’s stock after acquiring an additional 463 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in General Mills were worth $230,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in GIS. Garde Capital Inc. increased its position in General Mills by 101.5% in the 2nd quarter. Garde Capital Inc. now owns 524 shares of the company’s stock valued at $27,000 after acquiring an additional 264 shares during the period. Armstrong Advisory Group Inc. acquired a new position in shares of General Mills during the 2nd quarter valued at $32,000. Smallwood Wealth Investment Management LLC acquired a new position in shares of General Mills during the 1st quarter valued at $34,000. GKV Capital Management Co. Inc. acquired a new position in shares of General Mills during the 1st quarter valued at $34,000. Finally, MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of General Mills during the 1st quarter valued at $37,000. 75.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GIS has been the topic of several research analyst reports. Wall Street Zen upgraded General Mills from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. 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 research report on Thursday, September 18th. 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 research report on Monday, September 8th. Deutsche Bank Aktiengesellschaft lowered their price target on 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, HSBC lowered their price target on General Mills from $59.00 to $57.00 and set a “hold” rating on the stock in a research report on Thursday, September 18th. Four investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $55.82.

General Mills Stock Performance

Shares of NYSE GIS opened at $48.48 on Friday. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 1.28. The stock has a market capitalization of $25.86 billion, a price-to-earnings ratio of 9.16, a PEG ratio of 1.22 and a beta of -0.03. The stock’s fifty day simple moving average is $49.65 and its 200 day simple moving average is $52.32. General Mills, Inc. has a 52-week low of $47.48 and a 52-week high of $70.60.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, September 17th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.82 by $0.04. The business 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 was down 6.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.07 earnings per share. As a group, sell-side analysts forecast that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be given a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend is Friday, October 10th. General Mills’s dividend payout ratio (DPR) is 46.12%.

Insider Activity at General Mills

In other news, insider Jacqueline Williams-Roll sold 4,000 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $3,332,313.72. This trade represents a 5.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.30% of the stock is currently owned by company insiders.

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.