Marks Group Wealth Management Inc Buys Shares of 11,496 General Mills, Inc. $GIS

Key Points

• Marks Group Wealth Management Inc has acquired 11,496 shares of General Mills, Inc. valued at approximately $596,000 during the 2nd quarter.
• Insider Jacqueline Williams-Roll sold 4,000 shares at an average price of $50.04, reducing her ownership in the company by 5.67%.
• General Mills announced a quarterly dividend of $0.61 per share, with a payout ratio of 46.12%, reflecting a 4.9% yield.

Marks Group Wealth Management Inc purchased a new position in shares of General Mills, Inc. (NYSE:GIS - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,496 shares of the company's stock, valued at approximately $596,000.

Several other hedge funds have also recently modified their holdings of the stock. Perpetual Ltd boosted its holdings in shares of General Mills by 3.5% in the first quarter. Perpetual Ltd now owns 5,411 shares of the company's stock valued at $324,000 after acquiring an additional 184 shares in the last quarter. Conning Inc. lifted its position in General Mills by 4.6% in the first quarter. Conning Inc. now owns 4,212 shares of the company's stock valued at $252,000 after purchasing an additional 185 shares during the period. Benjamin Edwards Inc. boosted its holdings in General Mills by 0.4% in the 1st quarter. Benjamin Edwards Inc. now owns 52,298 shares of the company's stock valued at $3,127,000 after purchasing an additional 185 shares in the last quarter. Eastern Bank boosted its holdings in General Mills by 0.8% in the 1st quarter. Eastern Bank now owns 24,817 shares of the company's stock valued at $1,484,000 after purchasing an additional 186 shares in the last quarter. Finally, SPC Financial Inc. increased its position in General Mills by 1.5% during the 1st quarter. SPC Financial Inc. now owns 13,452 shares of the company's stock worth $804,000 after purchasing an additional 193 shares during the period. 75.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at General Mills

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

Analyst Ratings Changes

GIS has been the subject of several recent analyst reports. Bank of America reduced their price target on General Mills from $63.00 to $61.00 and set a "buy" rating for the company in a report on Thursday, June 26th. Weiss Ratings restated a "hold (c-)" rating on shares of General Mills in a research report on Saturday, September 27th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of General Mills from $52.00 to $50.00 and set a "hold" rating on the stock in a research note on Thursday, September 18th. Royal Bank Of Canada upgraded shares of General Mills from a "sector perform" rating to an "outperform" rating and reduced their price objective for the company from $67.00 to $63.00 in a research note on Thursday, June 26th. Finally, Morgan Stanley decreased their price objective on shares of General Mills from $49.00 to $48.00 and set an "underweight" rating on the stock in a report on Monday, September 15th. Four 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.com, the stock currently has an average rating of "Hold" and a consensus target price of $55.82.

General Mills Stock Performance

NYSE:GIS opened at $50.18 on Tuesday. 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 company has a market capitalization of $26.77 billion, a P/E ratio of 9.49, a price-to-earnings-growth ratio of 1.27 and a beta of -0.03. The firm has a 50-day moving average price of $49.74 and a two-hundred day moving average price of $52.91. General Mills, Inc. has a twelve month low of $48.29 and a twelve month high of $73.74.

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 (EPS) 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 company had revenue of $4.52 billion for the quarter, compared to the consensus estimate of $4.52 billion. During the same quarter in the prior year, the firm earned $1.07 earnings per share. The company's revenue for the quarter was down 6.8% compared to the same quarter last year. As a group, research analysts expect that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be given a dividend of $0.61 per share. The ex-dividend date of this dividend 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 presently 46.12%.

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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