Axxcess Wealth Management LLC Grows Position in General Mills, Inc. $GIS

Key Points

• Axxcess Wealth Management LLC increased its stake in General Mills, Inc. by 63.1% in Q2, owning a total of 18,371 shares valued at approximately $952,000.
• Insider Jacqueline Williams-Roll sold 4,000 shares of General Mills, decreasing her stake by 5.67% after the sale.
• General Mills announced a quarterly dividend of $0.61 per share, representing a yield of 5.1%, to be paid on November 3rd.

Axxcess Wealth Management LLC raised its holdings in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 63.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,371 shares of the company's stock after buying an additional 7,109 shares during the quarter. Axxcess Wealth Management LLC's holdings in General Mills were worth $952,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of GIS. Cornerstone Wealth Group LLC acquired a new position in shares of General Mills during the 2nd quarter valued at about $202,000. NorthRock Partners LLC boosted its position in shares of General Mills by 1,115.6% during the 2nd quarter. NorthRock Partners LLC now owns 55,201 shares of the company's stock valued at $2,860,000 after acquiring an additional 50,660 shares during the last quarter. Verdence Capital Advisors LLC boosted its position in shares of General Mills by 1.4% during the 2nd quarter. Verdence Capital Advisors LLC now owns 22,885 shares of the company's stock valued at $1,186,000 after acquiring an additional 322 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in shares of General Mills by 2.0% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 11,942 shares of the company's stock valued at $619,000 after acquiring an additional 230 shares during the last quarter. Finally, Sequoia Financial Advisors LLC boosted its position in shares of General Mills by 8.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 17,064 shares of the company's stock valued at $884,000 after acquiring an additional 1,307 shares during the last quarter. Hedge funds and other institutional investors own 75.71% of the company's stock.

Insiders Place Their Bets

In related news, insider Jacqueline Williams-Roll sold 4,000 shares of the company's stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $50.04, for a total transaction of $200,160.00. Following the sale, the insider directly owned 66,593 shares of the company's stock, valued at $3,332,313.72. This represents a 5.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GIS. Royal Bank Of Canada raised shares of General Mills from a "sector perform" rating to an "outperform" rating and lowered their price target for the company from $67.00 to $63.00 in a research report on Thursday, June 26th. Weiss Ratings reissued a "hold (c-)" rating on shares of General Mills in a research report on Wednesday, October 8th. Wall Street Zen raised shares of General Mills from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. Morgan Stanley decreased their target price on shares of General Mills from $49.00 to $48.00 and set an "underweight" rating on the stock in a research report on Monday, September 15th. Finally, Zacks Research raised shares of General Mills from a "strong sell" rating to a "hold" rating in a research report on Tuesday, September 2nd. Four investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $55.82.

General Mills Trading Down 0.1%

NYSE GIS opened at $47.70 on Friday. The firm's 50-day moving average is $49.67 and its two-hundred day moving average is $52.44. General Mills, Inc. has a 12 month low of $47.48 and a 12 month high of $71.00. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.66 and a quick ratio of 0.40. The stock has a market capitalization of $25.44 billion, a P/E ratio of 9.02, a PEG ratio of 1.20 and a beta of -0.03.

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

General Mills Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 5.1%. The ex-dividend date of this dividend is Friday, October 10th. General Mills's dividend payout ratio is presently 46.12%.

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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