Philip James Wealth Mangement LLC Increases Holdings in General Mills, Inc. (NYSE:GIS)

Philip James Wealth Mangement LLC raised its stake in General Mills, Inc. (NYSE:GIS - Free Report) by 105.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,271 shares of the company's stock after purchasing an additional 7,339 shares during the quarter. Philip James Wealth Mangement LLC's holdings in General Mills were worth $853,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. CBIZ Investment Advisory Services LLC purchased a new position in General Mills in the 4th quarter worth approximately $30,000. Kohmann Bosshard Financial Services LLC purchased a new stake in General Mills during the 4th quarter worth $31,000. Perkins Coie Trust Co increased its stake in General Mills by 69.2% during the 1st quarter. Perkins Coie Trust Co now owns 516 shares of the company's stock worth $31,000 after buying an additional 211 shares during the period. VSM Wealth Advisory LLC purchased a new position in General Mills in the 4th quarter valued at about $32,000. Finally, Transce3nd LLC purchased a new position in General Mills in the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 75.71% of the company's stock.

Analysts Set New Price Targets

GIS has been the topic of a number of analyst reports. JPMorgan Chase & Co. dropped their target price on General Mills from $60.00 to $54.00 and set a "neutral" rating on the stock in a research report on Thursday, March 20th. Barclays dropped their price objective on General Mills from $60.00 to $54.00 and set an "equal weight" rating on the stock in a report on Thursday. Jefferies Financial Group increased their target price on General Mills from $58.00 to $62.00 and gave the company a "hold" rating in a research note on Monday, March 10th. The Goldman Sachs Group lowered shares of General Mills from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $68.00 to $58.00 in a report on Monday, June 9th. Finally, Royal Bank Of Canada upgraded General Mills from a "sector perform" rating to an "outperform" rating and decreased their price target for the stock from $67.00 to $63.00 in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $60.50.

General Mills Stock Down 0.6%

Shares of General Mills stock opened at $50.38 on Friday. The company has a current ratio of 0.67, a quick ratio of 0.44 and a debt-to-equity ratio of 1.38. General Mills, Inc. has a 1 year low of $50.24 and a 1 year high of $75.90. The stock has a 50-day moving average price of $54.48 and a 200 day moving average price of $58.47. The company has a market cap of $27.77 billion, a P/E ratio of 12.29, a P/E/G ratio of 1.25 and a beta of 0.02.

General Mills (NYSE:GIS - Get Free Report) last posted its quarterly earnings results on Wednesday, June 25th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.72 by $0.02. The business had revenue of $4.56 billion during the quarter, compared to analysts' expectations of $4.60 billion. General Mills had a net margin of 11.78% and a return on equity of 24.88%. The firm's quarterly revenue was down 3.3% compared to the same quarter last year. During the same period last year, the company posted $1.01 earnings per share. As a group, analysts expect that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be issued a $0.61 dividend. This is a positive change from General Mills's previous quarterly dividend of $0.60. This represents a $2.44 annualized dividend and a yield of 4.84%. The ex-dividend date is Thursday, July 10th. General Mills's payout ratio is 52.75%.

About General Mills

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.