Thurston Springer Miller Herd & Titak Inc. Invests $48,000 in General Mills, Inc. (NYSE:GIS)

Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of General Mills, Inc. (NYSE:GIS) during the 2nd quarter, Holdings Channel reports. The fund bought 763 shares of the company’s stock, valued at approximately $48,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GIS. HBW Advisory Services LLC purchased a new position in General Mills during the 2nd quarter valued at $2,138,000. Stonehearth Capital Management LLC increased its position in shares of General Mills by 10.4% during the second quarter. Stonehearth Capital Management LLC now owns 3,537 shares of the company’s stock valued at $224,000 after buying an additional 332 shares during the period. DNB Asset Management AS increased its position in shares of General Mills by 10.5% during the second quarter. DNB Asset Management AS now owns 119,106 shares of the company’s stock valued at $7,535,000 after buying an additional 11,334 shares during the period. Massmutual Trust Co. FSB ADV lifted its holdings in General Mills by 29.1% in the second quarter. Massmutual Trust Co. FSB ADV now owns 2,883 shares of the company’s stock worth $182,000 after buying an additional 649 shares during the period. Finally, GAMMA Investing LLC boosted its position in General Mills by 35.5% during the 2nd quarter. GAMMA Investing LLC now owns 11,034 shares of the company’s stock valued at $698,000 after acquiring an additional 2,889 shares in the last quarter. Institutional investors own 75.71% of the company’s stock.

General Mills Stock Performance

NYSE:GIS traded up $0.62 on Wednesday, hitting $68.55. The stock had a trading volume of 283,797 shares, compared to its average volume of 4,075,324. The business’s 50-day simple moving average is $65.65 and its two-hundred day simple moving average is $66.78. The stock has a market cap of $38.26 billion, a price-to-earnings ratio of 15.76, a price-to-earnings-growth ratio of 3.83 and a beta of 0.09. General Mills, Inc. has a 52-week low of $60.33 and a 52-week high of $74.45. The company has a quick ratio of 0.38, a current ratio of 0.65 and a debt-to-equity ratio of 1.17.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, June 26th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.02. The company had revenue of $4.71 billion during the quarter, compared to analyst estimates of $4.85 billion. General Mills had a net margin of 12.57% and a return on equity of 26.56%. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.12 earnings per share. As a group, research analysts predict that General Mills, Inc. will post 4.49 earnings per share 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 given a dividend of $0.60 per share. The ex-dividend date was Wednesday, July 10th. This is an increase from General Mills’s previous quarterly dividend of $0.59. This represents a $2.40 annualized dividend and a yield of 3.50%. General Mills’s payout ratio is 55.68%.

Insider Buying and Selling at General Mills

In other news, insider Werner Lanette Shaffer sold 710 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $70.57, for a total value of $50,104.70. Following the transaction, the insider now owns 17,397 shares of the company’s stock, valued at $1,227,706.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.24% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on GIS shares. 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. Argus reiterated a “hold” rating on shares of General Mills in a report on Tuesday, July 16th. Citigroup dropped their target price on shares of General Mills from $71.00 to $68.00 and set a “neutral” rating on the stock in a report on Thursday, June 27th. Evercore ISI decreased their price target on shares of General Mills from $76.00 to $72.00 and set an “in-line” rating for the company in a research note on Friday, June 28th. Finally, Barclays lowered their price target on shares of 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. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $68.82.

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