Berger Financial Group Inc Raises Stock Holdings in General Mills, Inc. $GIS

Berger Financial Group Inc raised its holdings in General Mills, Inc. (NYSE:GIS - Free Report) by 239.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,691 shares of the company's stock after purchasing an additional 16,717 shares during the period. Berger Financial Group Inc's holdings in General Mills were worth $1,227,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Clarius Group LLC grew its stake in General Mills by 13.8% in the 2nd quarter. Clarius Group LLC now owns 5,426 shares of the company's stock valued at $281,000 after acquiring an additional 659 shares during the period. QRG Capital Management Inc. grew its position in shares of General Mills by 6.5% in the second quarter. QRG Capital Management Inc. now owns 336,546 shares of the company's stock valued at $17,436,000 after purchasing an additional 20,459 shares during the period. Ascent Group LLC increased its stake in shares of General Mills by 6.2% during the second quarter. Ascent Group LLC now owns 98,197 shares of the company's stock worth $5,088,000 after purchasing an additional 5,754 shares in the last quarter. Hilltop National Bank acquired a new position in shares of General Mills during the 2nd quarter worth about $461,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in General Mills by 9.9% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 574,039 shares of the company's stock valued at $29,741,000 after buying an additional 51,507 shares in the last quarter. 75.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Jacqueline Williams-Roll sold 4,000 shares of General Mills 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 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 filing with the Securities & Exchange Commission, which can be accessed through this link. 0.30% of the stock is owned by corporate insiders.

General Mills Stock Up 0.1%

Shares of GIS opened at $50.38 on Monday. General Mills, Inc. has a 52-week low of $48.29 and a 52-week high of $73.78. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 1.28. The stock has a fifty day simple moving average of $49.73 and a two-hundred day simple moving average of $52.97. The company has a market capitalization of $26.87 billion, a PE ratio of 9.52, a price-to-earnings-growth ratio of 1.27 and a beta of -0.03.

General Mills (NYSE:GIS - Get Free Report) last announced its quarterly 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. General Mills had a net margin of 15.24% and a return on equity of 23.46%. The firm had revenue of $4.52 billion for the quarter, compared to analysts' expectations of $4.52 billion. During the same quarter in the previous year, the company posted $1.07 EPS. The company's revenue was down 6.8% compared to the same quarter last year. As a group, equities analysts forecast that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be paid a $0.61 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $2.44 annualized dividend and a dividend yield of 4.8%. General Mills's dividend payout ratio is 46.12%.

Wall Street Analysts Forecast Growth

GIS has been the subject of several research reports. Mizuho cut their price objective on General Mills from $57.00 to $52.00 and set a "neutral" rating for the company in a research note on Friday, September 19th. Zacks Research upgraded General Mills from a "strong sell" rating to a "hold" rating in a research report on Tuesday, September 2nd. JPMorgan Chase & Co. restated an "underweight" rating and issued a $45.00 price objective (down previously from $53.00) on shares of General Mills in a report on Wednesday, August 20th. Royal Bank Of Canada raised shares of General Mills from a "sector perform" rating to an "outperform" rating and lowered their target price for the stock from $67.00 to $63.00 in a research note on Thursday, June 26th. Finally, Morgan Stanley reduced their target price on shares of General Mills from $49.00 to $48.00 and set an "underweight" rating for the company in a research report on Monday, September 15th. Four investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $55.82.

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.

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