Fifth Third Wealth Advisors LLC Has $251,000 Holdings in General Mills, Inc. $GIS

Fifth Third Wealth Advisors LLC reduced its stake in shares of General Mills, Inc. (NYSE:GIS) by 18.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,850 shares of the company’s stock after selling 1,102 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in General Mills were worth $251,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Garde Capital Inc. increased its holdings 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 buying an additional 264 shares during the period. Smallwood Wealth Investment Management LLC bought a new stake in General Mills in the 1st quarter valued at $34,000. GKV Capital Management Co. Inc. bought a new stake in General Mills in the 1st quarter valued at $34,000. MJT & Associates Financial Advisory Group Inc. bought a new stake in General Mills in the 1st quarter valued at $37,000. Finally, Pingora Partners LLC increased its holdings in General Mills by 416.7% in the 1st quarter. Pingora Partners LLC now owns 620 shares of the company’s stock valued at $37,000 after buying an additional 500 shares during the period. 75.71% of the stock is currently owned by institutional investors and hedge funds.

General Mills Stock Down 2.4%

Shares of NYSE GIS opened at $48.18 on Tuesday. The firm’s 50-day simple moving average is $49.76 and its 200 day simple moving average is $52.59. The company has a market cap of $25.70 billion, a price-to-earnings ratio of 9.11, a price-to-earnings-growth ratio of 1.24 and a beta of -0.03. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 1.28. General Mills, Inc. has a 12-month low of $48.13 and a 12-month high of $72.55.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, September 17th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.04. The business had revenue of $4.52 billion for the quarter, compared to the consensus estimate of $4.52 billion. General Mills had a net margin of 15.24% and a return on equity of 23.46%. The firm’s quarterly revenue was down 6.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.07 EPS. On average, research analysts expect that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Dividend Announcement

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

Insider Transactions at General Mills

In related news, insider Jacqueline Williams-Roll sold 4,000 shares of the company’s stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $50.04, for a total transaction of $200,160.00. Following the transaction, the insider owned 66,593 shares in the company, valued at $3,332,313.72. This represents a 5.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GIS. Bernstein Bank lowered their price target on shares of General Mills from $55.00 to $54.00 and set a “market perform” rating on the stock in a report on Thursday, September 18th. Zacks Research raised shares of General Mills from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 2nd. Barclays lowered their price target on shares of General Mills from $54.00 to $52.00 and set an “equal weight” rating on the stock in a report on Friday, September 19th. Jefferies Financial Group lowered their target price on shares of General Mills from $51.00 to $50.00 and set a “hold” rating on the stock in a report on Monday, September 8th. Finally, UBS Group lowered their target price on shares of General Mills from $49.00 to $47.00 and set a “sell” rating on the stock in a report on Thursday, September 18th. 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 company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $55.82.

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.