TFG Advisers LLC Lowers Stock Position in General Mills, Inc. $GIS

TFG Advisers LLC lowered its position in General Mills, Inc. (NYSE:GIS) by 5.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,347 shares of the company’s stock after selling 509 shares during the period. TFG Advisers LLC’s holdings in General Mills were worth $432,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kera Capital Partners Inc. purchased a new stake in shares of General Mills in the second quarter valued at about $222,000. Victory Capital Management Inc. raised its position in General Mills by 7.3% in the first quarter. Victory Capital Management Inc. now owns 522,576 shares of the company’s stock worth $31,245,000 after acquiring an additional 35,494 shares during the period. Commonwealth Equity Services LLC raised its position in General Mills by 7.8% in the first quarter. Commonwealth Equity Services LLC now owns 452,844 shares of the company’s stock worth $27,076,000 after acquiring an additional 32,628 shares during the period. Rock Point Advisors LLC bought a new stake in General Mills in the first quarter worth about $3,610,000. Finally, OVERSEA CHINESE BANKING Corp Ltd raised its position in General Mills by 126.1% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 774,134 shares of the company’s stock worth $46,285,000 after acquiring an additional 431,693 shares during the period. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Insider Activity at General Mills

In other General Mills news, insider Jacqueline Williams-Roll sold 4,000 shares of General Mills stock in a transaction that occurred on 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 directly owned 66,593 shares of the company’s stock, valued at approximately $3,332,313.72. This trade represents a 5.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.30% of the company’s stock.

General Mills Price Performance

GIS stock opened at $50.73 on Thursday. General Mills, Inc. has a 12 month low of $48.29 and a 12 month high of $74.43. The firm has a market capitalization of $27.06 billion, a P/E ratio of 9.59, a price-to-earnings-growth ratio of 1.27 and a beta of -0.03. 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 firm has a 50 day moving average of $49.76 and a 200-day moving average of $53.19.

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

General Mills Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be paid a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $2.44 annualized dividend and a dividend yield of 4.8%. General Mills’s dividend payout ratio (DPR) is 46.12%.

Wall Street Analysts Forecast Growth

GIS has been the topic of several research reports. Wells Fargo & Company set a $53.00 price objective on shares of General Mills and gave the stock an “equal weight” rating in a research report on Thursday, June 26th. Zacks Research upgraded shares of General Mills from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 2nd. Bank of America reduced their target price on shares of General Mills from $63.00 to $61.00 and set a “buy” rating for the company in a research note on Thursday, June 26th. Jefferies Financial Group reduced their target price on shares of General Mills from $51.00 to $50.00 and set a “hold” rating for the company in a research note on Monday, September 8th. Finally, Barclays reduced their target price on shares of General Mills from $54.00 to $52.00 and set an “equal weight” rating for the company in a research note on Friday, September 19th. Four analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, General Mills presently has an average rating of “Hold” and a consensus price target of $55.82.

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.