Centennial Wealth Advisory LLC Invests $506,000 in General Mills, Inc. $GIS

Key Points

• Centennial Wealth Advisory LLC invested approximately $506,000 in a new position in General Mills, acquiring 9,760 shares in the second quarter.
• General Mills recently reported earnings per share of $0.86, surpassing the consensus estimate of $0.82, despite a 6.8% year-over-year revenue decline to $4.52 billion.
• The company announced a quarterly dividend of $0.61 per share, with a 4.9% yield and a payout ratio of 46.12%.

Centennial Wealth Advisory LLC bought a new position in General Mills, Inc. (NYSE:GIS - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 9,760 shares of the company's stock, valued at approximately $506,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Kera Capital Partners Inc. bought a new position in shares of General Mills in the second quarter worth about $222,000. Victory Capital Management Inc. lifted its holdings in shares of General Mills by 7.3% in the first quarter. Victory Capital Management Inc. now owns 522,576 shares of the company's stock worth $31,245,000 after acquiring an additional 35,494 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in General Mills by 7.8% in the 1st quarter. Commonwealth Equity Services LLC now owns 452,844 shares of the company's stock valued at $27,076,000 after buying an additional 32,628 shares during the last quarter. Rock Point Advisors LLC bought a new position in General Mills in the 1st quarter valued at approximately $3,610,000. Finally, OVERSEA CHINESE BANKING Corp Ltd raised its holdings in General Mills by 126.1% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 774,134 shares of the company's stock valued at $46,285,000 after buying an additional 431,693 shares during the last quarter. Institutional investors own 75.71% of the company's stock.

General Mills Price Performance

Shares of GIS opened at $49.63 on Tuesday. General Mills, Inc. has a 12-month low of $48.29 and a 12-month high of $74.85. The business's fifty day moving average is $49.78 and its 200 day moving average is $53.23. 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 market cap of $26.47 billion, a P/E ratio of 9.38, a P/E/G ratio of 1.26 and a beta of -0.02.

General Mills (NYSE:GIS - Get Free Report) last issued its quarterly earnings data 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 return on equity of 23.46% and a net margin of 15.24%.The business had revenue of $4.52 billion for the quarter, compared to analysts' expectations of $4.52 billion. During the same period last year, the business earned $1.07 EPS. The business's revenue was down 6.8% on a year-over-year basis. Sell-side analysts anticipate that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be paid a dividend of $0.61 per share. 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 46.12%.

Insiders Place Their Bets

In other General Mills news, insider Jacqueline Williams-Roll sold 4,000 shares of the firm's stock in a transaction 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 in the company, valued at approximately $3,332,313.72. This trade represents a 5.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.30% of the company's stock.

Analyst Upgrades and Downgrades

GIS has been the subject of a number of research reports. UBS Group dropped their price objective on shares of General Mills from $49.00 to $47.00 and set a "sell" rating for the company in a report on Thursday, September 18th. Wells Fargo & Company set a $53.00 price objective on shares of General Mills and gave the company an "equal weight" rating in a report on Thursday, June 26th. HSBC dropped their price objective on shares of General Mills from $59.00 to $57.00 and set a "hold" rating for the company in a report on Thursday, September 18th. Jefferies Financial Group dropped their price objective on shares of General Mills from $51.00 to $50.00 and set a "hold" rating for the company in a report on Monday, September 8th. Finally, The Goldman Sachs Group downgraded shares of General Mills from a "buy" rating to a "neutral" rating and decreased their target price for the company from $68.00 to $58.00 in a research report on Monday, June 9th. Four investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average 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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