Resonant Capital Advisors LLC Takes $402,000 Position in General Mills, Inc. (NYSE:GIS)

Resonant Capital Advisors LLC acquired a new position in shares of General Mills, Inc. (NYSE:GIS - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 6,730 shares of the company's stock, valued at approximately $402,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GIS. CBIZ Investment Advisory Services LLC acquired a new position in General Mills in the fourth quarter worth about $30,000. Perkins Coie Trust Co grew its stake in shares of General Mills by 69.2% in the 1st quarter. Perkins Coie Trust Co now owns 516 shares of the company's stock valued at $31,000 after purchasing an additional 211 shares during the period. VSM Wealth Advisory LLC acquired a new position in shares of General Mills in the 4th quarter worth approximately $32,000. Transce3nd LLC bought a new position in shares of General Mills during the 4th quarter worth approximately $32,000. Finally, Smallwood Wealth Investment Management LLC acquired a new stake in General Mills in the 1st quarter valued at $34,000. 75.71% of the stock is owned by institutional investors.

General Mills Trading Down 1.3%

General Mills stock traded down $0.70 during trading hours on Friday, reaching $53.13. 3,595,895 shares of the company's stock traded hands, compared to its average volume of 4,652,483. General Mills, Inc. has a fifty-two week low of $50.19 and a fifty-two week high of $75.90. The firm's 50 day moving average is $53.93 and its 200-day moving average is $57.87. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.43 and a current ratio of 0.67. The firm has a market capitalization of $28.82 billion and a price-to-earnings ratio of 12.96.

General Mills (NYSE:GIS - Get Free Report) last announced its quarterly earnings data on Wednesday, June 25th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.72 by $0.02. General Mills had a net margin of 11.78% and a return on equity of 24.88%. The firm had revenue of $4.56 billion for the quarter, compared to analysts' expectations of $4.60 billion. During the same period last year, the firm earned $1.01 earnings per share. The business's revenue for the quarter was down 3.3% on a year-over-year basis. On average, analysts predict that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be paid a dividend of $0.61 per share. The ex-dividend date is Thursday, July 10th. This is a boost from General Mills's previous quarterly dividend of $0.60. This represents a $2.44 dividend on an annualized basis and a dividend yield of 4.59%. General Mills's payout ratio is 58.54%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on GIS shares. Jefferies Financial Group lifted their price objective on General Mills from $58.00 to $62.00 and gave the company a "hold" rating in a report on Monday, March 10th. UBS Group cut their price target on shares of General Mills from $52.00 to $49.00 and set a "sell" rating for the company in a report on Thursday, June 26th. Barclays decreased their price objective on shares of General Mills from $60.00 to $54.00 and set an "equal weight" rating on the stock in a research note on Thursday, June 26th. Stifel Nicolaus cut their target price on shares of General Mills from $65.00 to $56.00 and set a "buy" rating for the company in a research note on Thursday, June 26th. Finally, Citigroup reduced their target price on General Mills from $60.00 to $58.00 and set a "neutral" rating on the stock in a report on Friday, March 14th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $59.73.

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.