Advisors Management Group Inc. ADV Raises Holdings in General Mills, Inc. (NYSE:GIS)

Advisors Management Group Inc. ADV boosted its stake in shares of General Mills, Inc. (NYSE:GIS) by 3.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,121 shares of the company’s stock after acquiring an additional 664 shares during the quarter. Advisors Management Group Inc. ADV’s holdings in General Mills were worth $1,336,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. MeadowBrook Investment Advisors LLC bought a new position in General Mills during the 4th quarter valued at approximately $27,000. Rise Advisors LLC raised its position in General Mills by 199.3% during the 1st quarter. Rise Advisors LLC now owns 410 shares of the company’s stock valued at $29,000 after purchasing an additional 273 shares during the last quarter. Capital Advisors Ltd. LLC raised its position in General Mills by 409.8% during the 1st quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock valued at $29,000 after purchasing an additional 336 shares during the last quarter. Fortis Group Advisors LLC raised its position in General Mills by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 458 shares of the company’s stock valued at $30,000 after purchasing an additional 229 shares during the last quarter. Finally, RFP Financial Group LLC raised its position in General Mills by 66.3% during the 1st quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock valued at $30,000 after purchasing an additional 173 shares during the last quarter. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

General Mills Stock Performance

Shares of GIS stock traded up $0.93 on Friday, reaching $72.29. The stock had a trading volume of 3,645,786 shares, compared to its average volume of 3,954,824. The stock has a market cap of $40.35 billion, a P/E ratio of 16.77, a price-to-earnings-growth ratio of 3.83 and a beta of 0.09. General Mills, Inc. has a 1 year low of $60.33 and a 1 year high of $74.45. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.38 and a current ratio of 0.65. The company has a 50 day simple moving average of $66.81 and a 200 day simple moving average of $67.49.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, June 26th. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.02. General Mills had a return on equity of 26.56% and a net margin of 12.57%. The firm had revenue of $4.71 billion for the quarter, compared to the consensus estimate of $4.85 billion. During the same period last year, the business posted $1.12 EPS. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. Equities research analysts expect that General Mills, Inc. will post 4.49 EPS for the current year.

General Mills Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were issued a $0.60 dividend. This is a boost from General Mills’s previous quarterly dividend of $0.59. This represents a $2.40 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend was Wednesday, July 10th. General Mills’s dividend payout ratio (DPR) is currently 55.68%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Bank of America decreased their target price on General Mills from $70.00 to $68.00 and set a “neutral” rating for the company in a research report on Thursday, June 27th. Barclays decreased their target price on General Mills from $72.00 to $67.00 and set an “equal weight” rating for the company in a research report on Friday, June 28th. Citigroup cut their price target on General Mills from $71.00 to $68.00 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. Argus restated a “hold” rating on shares of General Mills in a research note on Tuesday, July 16th. Finally, Evercore ISI cut their price target on General Mills from $76.00 to $72.00 and set an “in-line” rating on the stock in a research note on Friday, June 28th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, General Mills currently has a consensus rating of “Hold” and a consensus target price of $69.71.

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.