Joule Financial LLC Purchases 294 Shares of General Mills, Inc. (NYSE:GIS)

Joule Financial LLC increased its position in shares of General Mills, Inc. (NYSE:GIS) by 6.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,695 shares of the company’s stock after acquiring an additional 294 shares during the period. Joule Financial LLC’s holdings in General Mills were worth $297,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Private Trust Co. NA boosted its holdings in shares of General Mills by 1.4% in the 1st quarter. Private Trust Co. NA now owns 10,280 shares of the company’s stock valued at $719,000 after purchasing an additional 140 shares in the last quarter. North Star Investment Management Corp. boosted its stake in General Mills by 0.8% in the first quarter. North Star Investment Management Corp. now owns 17,228 shares of the company’s stock valued at $1,205,000 after buying an additional 145 shares in the last quarter. Park Place Capital Corp grew its position in General Mills by 40.6% in the first quarter. Park Place Capital Corp now owns 540 shares of the company’s stock valued at $38,000 after acquiring an additional 156 shares during the last quarter. Gulf International Bank UK Ltd raised its stake in General Mills by 0.3% during the first quarter. Gulf International Bank UK Ltd now owns 48,176 shares of the company’s stock worth $3,370,000 after acquiring an additional 165 shares in the last quarter. Finally, Financial Counselors Inc. lifted its holdings in shares of General Mills by 0.3% in the first quarter. Financial Counselors Inc. now owns 56,652 shares of the company’s stock worth $3,964,000 after acquiring an additional 165 shares during the last quarter. 75.71% of the stock is owned by institutional investors.

General Mills Trading Up 0.0 %

GIS traded up $0.03 during trading on Thursday, reaching $70.66. 1,823,565 shares of the stock traded hands, compared to its average volume of 4,007,585. The company has a quick ratio of 0.38, a current ratio of 0.65 and a debt-to-equity ratio of 1.17. The stock’s 50-day moving average is $66.12 and its 200 day moving average is $67.15. General Mills, Inc. has a 12 month low of $60.33 and a 12 month high of $74.45. The stock has a market capitalization of $39.44 billion, a PE ratio of 16.39, a P/E/G ratio of 3.83 and a beta of 0.09.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, June 26th. The company reported $1.01 EPS for the quarter, beating 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 company 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 earned $1.12 EPS. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. Equities analysts anticipate that General Mills, Inc. will post 4.49 earnings per share for the current year.

General Mills Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were given a dividend of $0.60 per share. This is an increase from General Mills’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $2.40 annualized dividend and a dividend yield of 3.40%. General Mills’s dividend payout ratio (DPR) is 55.68%.

Wall Street Analysts Forecast Growth

GIS has been the subject of several research reports. Wells Fargo & Company dropped their price objective on shares of General Mills from $70.00 to $67.00 and set an “equal weight” rating for the company in a research note on Thursday, June 27th. Mizuho dropped their target price on General Mills from $70.00 to $62.00 and set a “neutral” rating for the company in a research report on Wednesday, July 3rd. JPMorgan Chase & Co. reduced their price target on General Mills from $70.00 to $63.00 and set a “neutral” rating on the stock in a report on Thursday, June 27th. Argus reiterated a “hold” rating on shares of General Mills in a report on Tuesday, July 16th. Finally, Barclays cut their target price on shares of General Mills from $72.00 to $67.00 and set an “equal weight” rating on the stock in a research report on Friday, June 28th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, General Mills currently has an average rating of “Hold” and a consensus target price of $69.71.

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.