Cornerstone Wealth Management LLC Decreases Position in General Mills, Inc. (NYSE:GIS)

Cornerstone Wealth Management LLC decreased its stake in General Mills, Inc. (NYSE:GIS) by 3.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,507 shares of the company’s stock after selling 637 shares during the period. Cornerstone Wealth Management LLC’s holdings in General Mills were worth $1,441,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of GIS. Vanguard Group Inc. boosted its position in shares of General Mills by 16.3% in the first quarter. Vanguard Group Inc. now owns 60,298,880 shares of the company’s stock worth $4,219,113,000 after buying an additional 8,444,312 shares during the period. Capital Research Global Investors boosted its position in shares of General Mills by 22.3% in the first quarter. Capital Research Global Investors now owns 13,650,388 shares of the company’s stock worth $955,118,000 after buying an additional 2,488,341 shares during the period. American Century Companies Inc. boosted its position in shares of General Mills by 100.4% in the second quarter. American Century Companies Inc. now owns 4,728,710 shares of the company’s stock worth $299,138,000 after buying an additional 2,368,563 shares during the period. Wulff Hansen & CO. boosted its holdings in General Mills by 6,140.4% in the second quarter. Wulff Hansen & CO. now owns 945,421 shares of the company’s stock valued at $59,807,000 after purchasing an additional 930,271 shares during the last quarter. Finally, Swedbank AB purchased a new position in General Mills in the first quarter valued at about $36,177,000. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on GIS shares. Bank of America increased their price target on General Mills from $68.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Stifel Nicolaus increased their price target on General Mills from $70.00 to $82.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Citigroup increased their price target on General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Mizuho reduced their price target on General Mills from $70.00 to $62.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. Finally, The Goldman Sachs Group started coverage on General Mills in a report on Monday, August 12th. They issued a “buy” rating and a $76.00 price target for the company. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, General Mills presently has a consensus rating of “Hold” and a consensus target price of $73.00.

Insider Activity

In related news, insider Pankaj Mn Sharma sold 2,325 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $74.63, for a total value of $173,514.75. Following the sale, the insider now directly owns 36,184 shares in the company, valued at $2,700,411.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Jonathon Nudi sold 9,647 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $74.39, for a total transaction of $717,640.33. Following the transaction, the insider now owns 128,664 shares in the company, valued at $9,571,314.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Pankaj Mn Sharma sold 2,325 shares of General Mills stock in a transaction on Friday, September 20th. The shares were sold at an average price of $74.63, for a total value of $173,514.75. Following the transaction, the insider now owns 36,184 shares in the company, valued at approximately $2,700,411.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,055 shares of company stock valued at $1,467,311. Insiders own 0.24% of the company’s stock.

General Mills Trading Down 0.5 %

Shares of NYSE GIS opened at $70.67 on Friday. The company has a market cap of $39.44 billion, a price-to-earnings ratio of 16.40, a price-to-earnings-growth ratio of 3.71 and a beta of 0.10. The stock’s 50 day simple moving average is $72.34 and its 200 day simple moving average is $69.22. The company has a current ratio of 0.66, a quick ratio of 0.39 and a debt-to-equity ratio of 1.20. General Mills, Inc. has a 12-month low of $61.47 and a 12-month high of $75.90.

General Mills (NYSE:GIS) last posted its earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The company had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.80 billion. During the same period last year, the business posted $1.09 earnings per share. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. Equities research analysts expect that General Mills, Inc. will post 4.51 EPS for the current year.

General Mills Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $2.40 annualized dividend and a dividend yield of 3.40%. General Mills’s payout ratio is currently 55.68%.

About General Mills

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.