Swisher Financial Concepts Inc. Takes $335,000 Position in General Mills, Inc. $GIS

Key Points

• Swisher Financial Concepts Inc. has acquired a new position in General Mills, purchasing 6,475 shares valued at approximately $335,000.
• General Mills reported $0.86 EPS for the last quarter, exceeding analysts' estimates, despite a 6.8% decline in revenue year-over-year.
• Majority of analysts maintain a consensus rating of "Hold" for General Mills, with an average target price of $55.82.

Swisher Financial Concepts Inc. acquired a new position in shares of General Mills, Inc. (NYSE:GIS - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 6,475 shares of the company's stock, valued at approximately $335,000.

Several other institutional investors also recently modified their holdings of the business. Garde Capital Inc. grew its stake in General Mills by 101.5% in the 2nd quarter. Garde Capital Inc. now owns 524 shares of the company's stock valued at $27,000 after purchasing an additional 264 shares during the period. Perkins Coie Trust Co grew its position in General Mills by 69.2% during the first quarter. Perkins Coie Trust Co now owns 516 shares of the company's stock valued at $31,000 after buying an additional 211 shares during the period. Armstrong Advisory Group Inc. purchased a new stake in General Mills during the second quarter worth about $32,000. Smallwood Wealth Investment Management LLC bought a new stake in General Mills in the first quarter worth about $34,000. Finally, GKV Capital Management Co. Inc. bought a new stake in General Mills in the first quarter worth about $34,000. 75.71% of the stock is owned by institutional investors.

General Mills Stock Performance

NYSE GIS opened at $49.42 on Friday. The company's 50 day simple moving average is $49.78 and its two-hundred day simple moving average is $53.47. 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 $48.29 and a 1 year high of $74.98. The stock has a market capitalization of $26.36 billion, a PE ratio of 9.34, a P/E/G ratio of 1.29 and a beta of -0.02.

General Mills (NYSE:GIS - Get Free Report) last released its quarterly earnings results on Wednesday, September 17th. The company reported $0.86 EPS 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 during the quarter, compared to analyst estimates of $4.52 billion. During the same period in the previous year, the business earned $1.07 EPS. The business's revenue for the quarter was down 6.8% on a year-over-year basis. Analysts predict that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GIS. Mizuho reduced 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 report on Friday, September 19th. Stifel Nicolaus lowered their target price on General Mills from $65.00 to $56.00 and set a "buy" rating on the stock in a research note on Thursday, June 26th. Barclays cut their price target on General Mills from $54.00 to $52.00 and set an "equal weight" rating for the company in a research note on Friday, September 19th. Wall Street Zen upgraded General Mills from a "sell" rating to a "hold" rating in a research note on Saturday, September 13th. Finally, Royal Bank Of Canada upgraded shares of General Mills from a "sector perform" rating to an "outperform" rating and cut their target price for the stock from $67.00 to $63.00 in a research report on Thursday, June 26th. Four investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, General Mills has a consensus rating of "Hold" and an average target price of $55.82.

Insiders Place Their Bets

In other General Mills news, insider Jacqueline Williams-Roll sold 4,000 shares of the firm's stock in a transaction dated 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 owned 66,593 shares of the company's stock, valued at $3,332,313.72. This trade represents a 5.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.30% of the stock is owned by corporate insiders.

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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