Sage Mountain Advisors LLC Invests $386,000 in General Mills, Inc. $GIS

Key Points

• Sage Mountain Advisors LLC has acquired a new stake in General Mills, Inc., purchasing 7,444 shares valued at approximately $386,000.
• General Mills recently reported earnings of $0.86 per share, surpassing analysts' estimates, but showed a revenue decline of 6.8% compared to the previous year.
• The company has announced a quarterly dividend of $0.61, reflecting an annualized yield of 5.1%, with an ex-dividend date on October 10th.

Sage Mountain Advisors LLC acquired a new stake in General Mills, Inc. (NYSE:GIS - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,444 shares of the company's stock, valued at approximately $386,000.

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

Insider Activity at General Mills

In related news, insider Jacqueline Williams-Roll sold 4,000 shares of General Mills stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $50.04, for a total transaction of $200,160.00. Following the completion of the sale, the insider owned 66,593 shares of the company's stock, valued at $3,332,313.72. The trade was a 5.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.30% of the stock is owned by company insiders.

General Mills Trading Down 1.1%

Shares of General Mills stock opened at $47.42 on Friday. The firm's 50 day simple moving average is $49.53 and its two-hundred day simple moving average is $51.97. The firm has a market capitalization of $25.30 billion, a price-to-earnings ratio of 8.96, a PEG ratio of 1.20 and a beta of -0.03. General Mills, Inc. has a 12-month low of $47.27 and a 12-month high of $68.96. 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 (NYSE:GIS - Get Free Report) last announced its quarterly earnings data on Wednesday, September 17th. The company reported $0.86 earnings per share 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 firm had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.52 billion. During the same period in the previous year, the company earned $1.07 earnings per share. The business's quarterly revenue was down 6.8% compared to the same quarter last year. Analysts predict that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be paid a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 5.1%. The ex-dividend date is Friday, October 10th. General Mills's dividend payout ratio (DPR) is presently 46.12%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. HSBC reduced their price target on General Mills from $59.00 to $57.00 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 research report on Saturday. Bernstein Bank cut their price objective on shares of General Mills from $55.00 to $54.00 and set a "market perform" rating on the stock in a research report on Thursday, September 18th. Morgan Stanley reduced their price objective on shares of General Mills from $49.00 to $48.00 and set an "underweight" rating for the company in a research note on Monday, September 15th. Finally, Mizuho lowered their target price on shares of General Mills from $57.00 to $52.00 and set a "neutral" rating for the company in a research note on Friday, September 19th. Four research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $55.82.

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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