Principle Wealth Partners LLC Has $1.54 Million Holdings in General Mills, Inc. $GIS

Key Points

• Principle Wealth Partners LLC reduced its holdings in General Mills by 41.8%, now owning 29,798 shares valued at $1.54 million, following the sale of 21,431 shares.
• General Mills recently announced a $0.61 quarterly dividend, with a dividend yield of 5.0%, to be paid on November 3rd to shareholders of record as of October 10th.
• A mix of analyst ratings reflects a consensus "Hold" for General Mills, with adjustments in price targets from notable firms such as Bank of America and Wells Fargo.

Principle Wealth Partners LLC lessened its position in General Mills, Inc. (NYSE:GIS - Free Report) by 41.8% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 29,798 shares of the company's stock after selling 21,431 shares during the period. Principle Wealth Partners LLC's holdings in General Mills were worth $1,544,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Garde Capital Inc. lifted its holdings in shares of General Mills by 101.5% in the second quarter. Garde Capital Inc. now owns 524 shares of the company's stock valued at $27,000 after purchasing an additional 264 shares in the last quarter. Smallwood Wealth Investment Management LLC bought a new position in shares of General Mills in the first quarter valued at approximately $34,000. GKV Capital Management Co. Inc. bought a new position in shares of General Mills in the first quarter valued at approximately $34,000. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of General Mills in the first quarter valued at approximately $37,000. Finally, Pingora Partners LLC lifted its holdings in shares of General Mills by 416.7% in the first quarter. Pingora Partners LLC now owns 620 shares of the company's stock valued at $37,000 after purchasing an additional 500 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on GIS shares. Bank of America dropped their target price on General Mills from $63.00 to $61.00 and set a "buy" rating on the stock in a report on Thursday, June 26th. Wells Fargo & Company set a $53.00 price target on General Mills and gave the stock an "equal weight" rating in a report on Thursday, June 26th. Barclays dropped their price target on General Mills from $54.00 to $52.00 and set an "equal weight" rating on the stock in a report on Friday, September 19th. Wall Street Zen upgraded General Mills from a "sell" rating to a "hold" rating in a report on Saturday, September 13th. Finally, UBS Group dropped their price target on General Mills from $49.00 to $47.00 and set a "sell" rating on the stock in a report on Thursday, September 18th. Four research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $55.82.

Insider Activity

In other General Mills news, insider Jacqueline Williams-Roll sold 4,000 shares of the business'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. The trade was a 5.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.30% of the stock is currently owned by insiders.

General Mills Stock Performance

Shares of GIS opened at $49.18 on Thursday. The firm has a market cap of $26.23 billion, a PE ratio of 9.30, a PEG ratio of 1.22 and a beta of -0.03. The stock's fifty day moving average price is $49.61 and its two-hundred day moving average price is $52.13. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.66 and a quick ratio of 0.40. General Mills, Inc. has a 1 year low of $47.48 and a 1 year high of $69.03.

General Mills (NYSE:GIS - Get Free Report) last issued its earnings results on Wednesday, September 17th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.04. The firm had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.52 billion. General Mills had a return on equity of 23.46% and a net margin of 15.24%.The business's revenue was down 6.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.07 earnings per share. On average, equities research analysts forecast that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be paid a $0.61 dividend. The ex-dividend date is Friday, October 10th. This represents a $2.44 annualized dividend and a dividend yield of 5.0%. General Mills's payout ratio is presently 46.12%.

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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