EverSource Wealth Advisors LLC Grows Position in General Mills, Inc. (NYSE:GIS)

EverSource Wealth Advisors LLC raised its stake in shares of General Mills, Inc. (NYSE:GIS) by 14.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,488 shares of the company’s stock after purchasing an additional 1,098 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in General Mills were worth $570,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of General Mills by 16.3% in the 1st quarter. Vanguard Group Inc. now owns 60,298,880 shares of the company’s stock valued at $4,219,113,000 after acquiring an additional 8,444,312 shares during the period. Capital Research Global Investors increased its holdings 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 valued at $955,118,000 after purchasing an additional 2,488,341 shares during the period. American Century Companies Inc. increased its holdings 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 valued at $299,138,000 after purchasing an additional 2,368,563 shares during the period. Wulff Hansen & CO. raised its stake in shares of General Mills by 6,140.4% in the second quarter. Wulff Hansen & CO. now owns 945,421 shares of the company’s stock worth $59,807,000 after purchasing an additional 930,271 shares during the last quarter. Finally, Swedbank AB acquired a new stake in shares of General Mills during the first quarter worth about $36,177,000. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Wall Street Analyst Weigh In

GIS has been the topic of several research reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $70.00 price target on shares of General Mills in a report on Thursday, September 19th. The Goldman Sachs Group began coverage on shares of General Mills in a research note on Monday, August 12th. They issued a “buy” rating and a $76.00 price objective on the stock. Wells Fargo & Company boosted their target price on shares of General Mills from $67.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, September 13th. Mizuho lowered their price target on shares of General Mills from $70.00 to $62.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Finally, Argus reiterated a “hold” rating on shares of General Mills in a research note on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $72.73.

General Mills Price Performance

Shares of General Mills stock opened at $74.19 on Tuesday. The firm has a market cap of $41.41 billion, a PE ratio of 17.21, a P/E/G ratio of 3.86 and a beta of 0.10. The business has a 50-day moving average price of $70.14 and a 200 day moving average price of $68.63. 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 twelve month low of $60.33 and a twelve month high of $75.90.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. General Mills had a return on equity of 26.56% and a net margin of 12.57%. The business had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.80 billion. During the same period in the previous year, the business earned $1.09 earnings per share. The business’s revenue was down 1.2% compared to the same quarter last year. Sell-side analysts predict that General Mills, Inc. will post 4.5 earnings per share for the current fiscal year.

General Mills Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders 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 a boost from General Mills’s previous quarterly dividend of $0.59. This represents a $2.40 dividend on an annualized basis and a yield of 3.24%. General Mills’s dividend payout ratio is currently 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.