LifeWealth Investments LLC Buys New Position in General Mills, Inc. $GIS

Key Points

• LifeWealth Investments LLC has acquired a new stake in General Mills, Inc. (NYSE:GIS), purchasing 7,045 shares valued at approximately $365,000 in the second quarter.
• General Mills reported a quarterly earnings per share (EPS) of $0.86, surpassing analysts' expectations of $0.82, despite a 6.8% drop in revenue year-over-year.
• The company declared a quarterly dividend of $0.61 per share, which translates to a 5.1% yield, with a payout ratio of 46.12%.

LifeWealth Investments LLC bought a new stake in General Mills, Inc. (NYSE:GIS - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 7,045 shares of the company's stock, valued at approximately $365,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Garde Capital Inc. grew its position in General Mills by 101.5% in the 2nd quarter. Garde Capital Inc. now owns 524 shares of the company's stock valued at $27,000 after buying an additional 264 shares in the last quarter. Armstrong Advisory Group Inc. bought a new position in General Mills in the 2nd quarter valued at about $32,000. Smallwood Wealth Investment Management LLC bought a new position in General Mills in the 1st quarter valued at about $34,000. GKV Capital Management Co. Inc. bought a new position in General Mills in the 1st quarter valued at about $34,000. Finally, MJT & Associates Financial Advisory Group Inc. bought a new position in General Mills in the 1st quarter valued at about $37,000. Institutional investors own 75.71% of the company's stock.

General Mills Price Performance

GIS stock opened at $47.95 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28. General Mills, Inc. has a one year low of $47.48 and a one year high of $69.03. The firm has a market capitalization of $25.58 billion, a PE ratio of 9.06, a P/E/G ratio of 1.24 and a beta of -0.03. The firm has a 50-day moving average of $49.58 and a two-hundred day moving average of $52.06.

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, beating 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 during 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 quarterly revenue was down 6.8% on a year-over-year basis. On average, analysts forecast that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Dividend Announcement

The company 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 of this dividend is Friday, October 10th. This represents a $2.44 dividend on an annualized basis and a yield of 5.1%. General Mills's dividend payout ratio is currently 46.12%.

Insider Buying and Selling

In other General Mills news, insider Jacqueline Williams-Roll sold 4,000 shares of the company's stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $50.04, for a total transaction of $200,160.00. Following the completion of the sale, the insider directly owned 66,593 shares of the company's stock, valued at approximately $3,332,313.72. This represents a 5.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.30% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Zacks Research upgraded shares of General Mills from a "strong sell" rating to a "hold" rating in a research report on Tuesday, September 2nd. Deutsche Bank Aktiengesellschaft decreased their target price on shares of General Mills from $52.00 to $50.00 and set a "hold" rating for the company in a research report on Thursday, September 18th. Weiss Ratings reissued a "hold (c-)" rating on shares of General Mills in a report on Wednesday, October 8th. Wall Street Zen raised shares of General Mills from a "sell" rating to a "hold" rating in a report on Saturday, September 13th. Finally, Morgan Stanley cut their price target on shares of General Mills from $49.00 to $48.00 and set an "underweight" rating for the company in a report on Monday, September 15th. Four equities 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. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target 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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