International Private Wealth Advisors LLC Purchases New Stake in General Mills, Inc. $GIS

Key Points

• International Private Wealth Advisors LLC acquired 5,716 shares of General Mills, Inc. valued at approximately $296,000 in the second quarter.
• General Mills reported earnings per share of $0.86 for the last quarter, exceeding expectations of $0.82, despite a 6.8% decline in year-over-year revenue.
• The company announced an increase in its quarterly dividend to $0.61 per share, representing a yield of 4.9%, compared to the previous dividend of $0.60.

International Private Wealth Advisors LLC bought a new stake in General Mills, Inc. (NYSE:GIS - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 5,716 shares of the company's stock, valued at approximately $296,000.

Other institutional investors have also recently bought and sold shares of the company. Perkins Coie Trust Co grew its holdings in General Mills by 69.2% in the first quarter. Perkins Coie Trust Co now owns 516 shares of the company's stock valued at $31,000 after purchasing an additional 211 shares during the period. Garde Capital Inc. grew its holdings in General Mills by 101.5% in the second quarter. Garde Capital Inc. now owns 524 shares of the company's stock valued at $27,000 after purchasing an additional 264 shares during the period. Smallwood Wealth Investment Management LLC purchased a new stake in General Mills in the first quarter valued at approximately $34,000. GKV Capital Management Co. Inc. purchased a new stake in General Mills in the first quarter valued at approximately $34,000. Finally, Heck Capital Advisors LLC purchased a new stake in General Mills in the fourth quarter valued at approximately $38,000. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on GIS shares. Mizuho lowered their target price on shares of General Mills from $57.00 to $52.00 and set a "neutral" rating for the company in a report on Friday. Stifel Nicolaus decreased their price objective on shares of General Mills from $65.00 to $56.00 and set a "buy" rating for the company in a research note on Thursday, June 26th. UBS Group decreased their price objective on shares of General Mills from $49.00 to $47.00 and set a "sell" rating for the company in a research note on Thursday. The Goldman Sachs Group downgraded shares of General Mills from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $68.00 to $58.00 in a research note on Monday, June 9th. Finally, JPMorgan Chase & Co. reiterated an "underweight" rating and set a $45.00 price objective (down from $53.00) on shares of General Mills in a research note on Wednesday, August 20th. Four equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $58.13.

General Mills Stock Up 1.1%

Shares of GIS stock traded up $0.56 on Friday, hitting $50.41. The stock had a trading volume of 15,033,316 shares, compared to its average volume of 5,807,454. The firm has a market capitalization of $26.89 billion, a price-to-earnings ratio of 9.53, a P/E/G ratio of 1.27 and a beta of -0.02. The stock's 50 day moving average is $49.78 and its 200-day moving average is $53.78. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.43 and a current ratio of 0.66. General Mills, Inc. has a 52-week low of $48.29 and a 52-week high of $75.33.

General Mills (NYSE:GIS - Get Free Report) last announced its earnings results on Wednesday, September 17th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.04. The business had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.52 billion. General Mills had a net margin of 15.24% and a return on equity of 23.46%. The business's quarterly revenue was down 6.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.07 earnings per share. As a group, research analysts expect that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were paid a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 4.8%. This is a boost from General Mills's previous quarterly dividend of $0.60. The ex-dividend date was Thursday, July 10th. General Mills's payout ratio is currently 46.12%.

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.