General Mills, Inc. (NYSE:GIS) Shares Sold by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC cut its holdings in shares of General Mills, Inc. (NYSE:GIS) by 1.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,632 shares of the company’s stock after selling 363 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in General Mills were worth $1,374,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. MeadowBrook Investment Advisors LLC purchased a new position in General Mills during the fourth quarter worth about $27,000. Rise Advisors LLC raised its stake in General Mills by 199.3% during the first quarter. Rise Advisors LLC now owns 410 shares of the company’s stock worth $29,000 after purchasing an additional 273 shares during the period. Capital Advisors Ltd. LLC raised its stake in General Mills by 409.8% during the first quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock worth $29,000 after purchasing an additional 336 shares during the period. Bruce G. Allen Investments LLC purchased a new position in General Mills during the fourth quarter worth about $28,000. Finally, Perkins Coie Trust Co raised its stake in General Mills by 769.2% during the first quarter. Perkins Coie Trust Co now owns 452 shares of the company’s stock worth $32,000 after purchasing an additional 400 shares during the period. 75.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Werner Lanette Shaffer sold 710 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $70.57, for a total value of $50,104.70. Following the completion of the transaction, the insider now owns 17,397 shares in the company, valued at approximately $1,227,706.29. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.24% of the company’s stock.

General Mills Trading Down 0.1 %

NYSE GIS opened at $63.08 on Friday. 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, Inc. has a 52 week low of $60.33 and a 52 week high of $77.63. The stock has a market capitalization of $35.21 billion, a PE ratio of 14.64, a price-to-earnings-growth ratio of 3.56 and a beta of 0.09. The firm has a 50 day moving average of $67.86 and a two-hundred day moving average of $66.65.

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

General Mills Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.80%. The ex-dividend date of this dividend is Wednesday, July 10th. This is a boost from General Mills’s previous quarterly dividend of $0.59. General Mills’s payout ratio is 54.76%.

Analyst Upgrades and Downgrades

GIS has been the topic of a number of analyst reports. Evercore ISI reduced their target price on shares of 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. Sanford C. Bernstein raised shares of General Mills from an “underperform” rating to a “market perform” rating and boosted their price target for the company from $62.00 to $70.00 in a research note on Wednesday, May 15th. Bank of America reduced their price target on shares of General Mills from $70.00 to $68.00 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. Citigroup reduced their price target on shares of General Mills from $71.00 to $68.00 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. Finally, HSBC boosted their price target on shares of General Mills from $74.00 to $76.00 and gave the company a “hold” rating in a research note on Thursday, March 21st. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, General Mills presently has an average rating of “Hold” and an average target price of $70.00.

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.