Leo Wealth LLC Increases Stock Holdings in General Mills, Inc. $GIS

Key Points

• Leo Wealth LLC increased its stake in General Mills, Inc. by 77.1% during the second quarter, bringing its holdings to 47,814 shares valued at approximately $2.48 million.
• General Mills recently announced a quarterly dividend of $0.61, with a dividend yield of 4.9%, to be paid on November 3rd.
• Wall Street analysts have downgraded their target prices for General Mills, with average ratings showing four buy, thirteen hold, and two sell ratings, and a target price of $55.82.

Leo Wealth LLC lifted its stake in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 77.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 47,814 shares of the company's stock after buying an additional 20,812 shares during the period. Leo Wealth LLC's holdings in General Mills were worth $2,477,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of GIS. Miracle Mile Advisors LLC boosted its position in shares of General Mills by 4.1% during the first quarter. Miracle Mile Advisors LLC now owns 10,903 shares of the company's stock valued at $652,000 after buying an additional 430 shares during the last quarter. First Citizens Bank & Trust Co. boosted its position in General Mills by 16.3% in the first quarter. First Citizens Bank & Trust Co. now owns 6,342 shares of the company's stock worth $379,000 after purchasing an additional 888 shares during the last quarter. Farther Finance Advisors LLC boosted its position in General Mills by 110.0% in the first quarter. Farther Finance Advisors LLC now owns 16,503 shares of the company's stock worth $986,000 after purchasing an additional 8,643 shares during the last quarter. Yousif Capital Management LLC boosted its position in General Mills by 3.4% in the first quarter. Yousif Capital Management LLC now owns 97,690 shares of the company's stock worth $5,841,000 after purchasing an additional 3,200 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its position in General Mills by 12.2% in the first quarter. Harbor Capital Advisors Inc. now owns 9,832 shares of the company's stock worth $588,000 after purchasing an additional 1,068 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 firm'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 completion of the transaction, the insider owned 66,593 shares of the company's stock, valued at $3,332,313.72. This trade represents a 5.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.30% of the stock is currently owned by company insiders.

General Mills Price Performance

GIS opened at $49.76 on Thursday. The stock has a 50-day moving average price of $49.77 and a 200-day moving average price of $52.87. General Mills, Inc. has a 12-month low of $48.29 and a 12-month high of $72.71. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28. The stock has a market capitalization of $26.54 billion, a P/E ratio of 9.41, a PEG ratio of 1.29 and a beta of -0.03.

General Mills (NYSE:GIS - Get Free Report) last issued 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 company 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%.General Mills's quarterly revenue was down 6.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.07 EPS. Equities analysts predict that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be given 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 4.9%. General Mills's dividend payout ratio is currently 46.12%.

Wall Street Analysts Forecast Growth

GIS has been the topic of several research analyst reports. Mizuho cut their price objective on General Mills from $57.00 to $52.00 and set a "neutral" rating on the stock in a research report on Friday, September 19th. Bernstein Bank lowered their target price on General Mills from $55.00 to $54.00 and set a "market perform" rating on the stock in a research note on Thursday, September 18th. Morgan Stanley lowered their target price on General Mills from $49.00 to $48.00 and set an "underweight" rating on the stock in a research note on Monday, September 15th. JPMorgan Chase & Co. restated an "underweight" rating and issued a $45.00 target price (down from $53.00) on shares of General Mills in a research note on Wednesday, August 20th. Finally, Stifel Nicolaus lowered their target price on General Mills from $65.00 to $56.00 and set a "buy" rating on the stock in a research note on Thursday, June 26th. Four equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $55.82.

General Mills 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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