AE Wealth Management LLC Grows Position in General Mills, Inc. (NYSE:GIS)

AE Wealth Management LLC raised its position in General Mills, Inc. (NYSE:GIS) by 22.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,420 shares of the company’s stock after buying an additional 8,200 shares during the quarter. AE Wealth Management LLC’s holdings in General Mills were worth $2,873,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of GIS. Rise Advisors LLC raised its position in General Mills by 199.3% in the 1st quarter. Rise Advisors LLC now owns 410 shares of the company’s stock valued at $29,000 after purchasing an additional 273 shares during the last quarter. Capital Advisors Ltd. LLC raised its holdings in shares of General Mills by 409.8% in the first quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock valued at $29,000 after buying an additional 336 shares during the last quarter. Fortis Group Advisors LLC raised its holdings in shares of General Mills by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 458 shares of the company’s stock valued at $30,000 after buying an additional 229 shares during the last quarter. RFP Financial Group LLC boosted its stake in shares of General Mills by 66.3% during the first quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock worth $30,000 after buying an additional 173 shares during the period. Finally, Perkins Coie Trust Co grew its holdings in shares of 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 buying an additional 400 shares during the last quarter. 75.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. TD Cowen upped their price objective on General Mills from $72.00 to $75.00 and gave the company a “hold” rating in a research note on Friday. Royal Bank of Canada restated a “sector perform” rating and set a $70.00 price target on shares of General Mills in a research note on Thursday. Mizuho lowered their price objective on shares of General Mills from $70.00 to $62.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. JPMorgan Chase & Co. cut their price objective on shares of General Mills from $70.00 to $63.00 and set a “neutral” rating for the company in a research report on Thursday, June 27th. Finally, Citigroup lifted their target price on shares of General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $72.73.

General Mills Trading Down 0.5 %

Shares of General Mills stock opened at $74.51 on Monday. The company has a 50-day moving average of $69.92 and a two-hundred day moving average of $68.57. General Mills, Inc. has a 12-month low of $60.33 and a 12-month high of $75.90. The company has a current ratio of 0.65, a quick ratio of 0.38 and a debt-to-equity ratio of 1.17. The stock has a market cap of $41.59 billion, a PE ratio of 17.29, a price-to-earnings-growth ratio of 3.86 and a beta of 0.10.

General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.01. The firm had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. General Mills had a return on equity of 26.56% and a net margin of 12.57%. General Mills’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period last year, the business posted $1.09 EPS. On average, research analysts anticipate 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 was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.22%. The ex-dividend date of this dividend was Wednesday, July 10th. This is an increase from General Mills’s previous quarterly dividend of $0.59. General Mills’s payout ratio is 55.68%.

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.