Armstrong Fleming & Moore Inc Acquires New Holdings in General Mills, Inc. $GIS

Key Points

• Armstrong Fleming & Moore Inc acquired a new stake in General Mills, Inc. during the 2nd quarter, purchasing 5,981 shares valued at approximately $310,000.
• General Mills recently declared a quarterly dividend of $0.61, with an annualized yield of 4.9%, and a dividend payout ratio of 46.12%.
• General Mills reported $0.86 EPS for the quarter, exceeding analysts' estimates of $0.82, despite a 6.8% decline in quarterly revenue compared to last year.

Armstrong Fleming & Moore Inc acquired a new stake in General Mills, Inc. (NYSE:GIS - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 5,981 shares of the company's stock, valued at approximately $310,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of GIS. Garde Capital Inc. increased its stake in General Mills by 101.5% during the second quarter. Garde Capital Inc. now owns 524 shares of the company's stock worth $27,000 after purchasing an additional 264 shares during the period. Armstrong Advisory Group Inc. acquired a new position in shares of General Mills during the second quarter worth about $32,000. Smallwood Wealth Investment Management LLC acquired a new position in shares of General Mills during the first quarter worth about $34,000. GKV Capital Management Co. Inc. acquired a new position in shares of General Mills during the first quarter worth about $34,000. Finally, MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of General Mills during the first quarter worth about $37,000. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

General Mills Trading Down 2.3%

Shares of GIS stock opened at $49.76 on Thursday. General Mills, Inc. has a fifty-two week low of $48.29 and a fifty-two week high of $72.71. The stock has a market cap of $26.54 billion, a P/E ratio of 9.41, a P/E/G ratio of 1.29 and a beta of -0.03. The business has a fifty day simple moving average of $49.77 and a 200-day simple moving average of $52.87. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 1.28.

General Mills (NYSE:GIS - Get Free Report) last posted its quarterly earnings data on Wednesday, September 17th. The company reported $0.86 EPS for the quarter, topping analysts' consensus estimates of $0.82 by $0.04. The firm had revenue of $4.52 billion during the quarter, compared to analysts' expectations of $4.52 billion. General Mills had a return on equity of 23.46% and a net margin of 15.24%.The firm's quarterly revenue was down 6.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.07 EPS. On average, analysts forecast that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be issued a $0.61 dividend. The ex-dividend date is Friday, October 10th. This represents a $2.44 annualized dividend and a yield of 4.9%. General Mills's dividend payout ratio (DPR) is presently 46.12%.

Insider Buying and Selling

In related news, insider Jacqueline Williams-Roll sold 4,000 shares of the business's stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $50.04, for a total transaction of $200,160.00. Following the transaction, the insider directly owned 66,593 shares of the company's stock, valued at approximately $3,332,313.72. The trade was a 5.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.30% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Bank of America dropped their price target on shares of General Mills from $63.00 to $61.00 and set a "buy" rating on the stock in a research note on Thursday, June 26th. Wall Street Zen upgraded General Mills from a "sell" rating to a "hold" rating in a research note on Saturday, September 13th. JPMorgan Chase & Co. restated an "underweight" rating and set a $45.00 price target (down previously from $53.00) on shares of General Mills in a research note on Wednesday, August 20th. Weiss Ratings restated a "hold (c-)" rating on shares of General Mills in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft cut their price target on General Mills from $52.00 to $50.00 and set a "hold" rating for the company in a research note on Thursday, September 18th. Four research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, General Mills presently has a consensus rating of "Hold" and an average price target of $55.82.

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.

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