Cornerstone Wealth Group LLC Invests $258,000 in General Mills, Inc. (NYSE:GIS)

Cornerstone Wealth Group LLC acquired a new position in shares of General Mills, Inc. (NYSE:GIS) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,682 shares of the company’s stock, valued at approximately $258,000.

Other institutional investors have also made changes to their positions in the company. Cetera Trust Company N.A acquired a new stake in shares of General Mills during the fourth quarter worth $50,000. Bruce G. Allen Investments LLC acquired a new stake in shares of General Mills during the fourth quarter worth $28,000. Optimist Retirement Group LLC acquired a new stake in shares of General Mills during the fourth quarter worth $1,171,000. Apollon Wealth Management LLC grew its stake in shares of General Mills by 122.7% during the fourth quarter. Apollon Wealth Management LLC now owns 23,675 shares of the company’s stock worth $1,542,000 after purchasing an additional 13,043 shares during the period. Finally, Sabal Trust CO grew its stake in shares of General Mills by 7,817.6% during the fourth quarter. Sabal Trust CO now owns 290,179 shares of the company’s stock worth $18,902,000 after purchasing an additional 286,514 shares during the period. 75.71% of the stock is owned by institutional investors and hedge funds.

General Mills Stock Down 0.7 %

GIS traded down $0.45 on Friday, hitting $63.26. 13,274,287 shares of the company were exchanged, compared to its average volume of 4,473,323. General Mills, Inc. has a 12 month low of $60.33 and a 12 month high of $77.63. The company has a market cap of $35.31 billion, a PE ratio of 14.68, a PEG ratio of 3.01 and a beta of 0.12. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.40 and a current ratio of 0.65. The stock’s fifty day moving average is $68.51 and its 200-day moving average is $66.75.

General Mills (NYSE:GIS) last released its earnings results on Wednesday, June 26th. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.02. General Mills had a return on equity of 26.56% and a net margin of 12.57%. The business had revenue of $4.71 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same quarter in the prior year, the company posted $1.12 earnings per share. General Mills’s revenue was down 6.3% on a year-over-year basis. Equities research analysts predict that General Mills, Inc. will post 4.5 EPS for the current fiscal year.

General Mills Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be paid a $0.60 dividend. This is a positive change from General Mills’s previous quarterly dividend of $0.59. The ex-dividend date is Wednesday, July 10th. This represents a $2.40 annualized dividend and a yield of 3.79%. General Mills’s dividend payout ratio is currently 54.76%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. TD Cowen boosted their target price on General Mills from $68.00 to $70.00 and gave the company a “market perform” rating in a research note on Thursday, March 21st. Citigroup decreased their target price on General Mills from $71.00 to $68.00 and set a “neutral” rating for the company in a research note on Thursday. HSBC boosted their target price on General Mills from $74.00 to $76.00 and gave the company a “hold” rating in a research note on Thursday, March 21st. 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 note on Friday. Finally, Evercore ISI decreased their target price on General Mills from $76.00 to $72.00 and set an “in-line” rating for the company in a research note on Friday. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $70.44.

Insider Buying and Selling at General Mills

In other General Mills news, insider Werner Lanette Shaffer sold 710 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $70.57, for a total value of $50,104.70. Following the sale, the insider now owns 17,397 shares in the company, valued at $1,227,706.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.24% of the company’s stock.

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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.