Griffin Asset Management Inc. Increases Position in General Mills, Inc. (NYSE:GIS)

Griffin Asset Management Inc. increased its position in shares of General Mills, Inc. (NYSE:GIS) by 35.9% during the 1st quarter, Holdings Channel reports. The firm owned 9,559 shares of the company’s stock after acquiring an additional 2,524 shares during the period. Griffin Asset Management Inc.’s holdings in General Mills were worth $669,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Operose Advisors LLC lifted its position in shares of General Mills by 214.1% in the third quarter. Operose Advisors LLC now owns 402 shares of the company’s stock valued at $26,000 after acquiring an additional 274 shares in the last quarter. MeadowBrook Investment Advisors LLC purchased a new position in General Mills in the 4th quarter worth approximately $27,000. Bruce G. Allen Investments LLC bought a new position in General Mills in the 4th quarter worth approximately $28,000. Rise Advisors LLC grew its holdings in General Mills by 199.3% during the 1st quarter. Rise Advisors LLC now owns 410 shares of the company’s stock valued at $29,000 after buying an additional 273 shares in the last quarter. Finally, Fortis Group Advisors LLC lifted its holdings in shares of General Mills by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 458 shares of the company’s stock worth $30,000 after buying an additional 229 shares in the last quarter. Institutional investors own 75.71% of the company’s stock.

General Mills Stock Performance

Shares of NYSE:GIS opened at $63.26 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.40 and a debt-to-equity ratio of 1.17. General Mills, Inc. has a 12 month low of $60.33 and a 12 month high of $77.63. The company has a market capitalization of $35.31 billion, a price-to-earnings ratio of 14.68, a PEG ratio of 3.01 and a beta of 0.12. The firm’s 50-day moving average is $68.51 and its 200 day moving average is $66.75.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, June 26th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.02. General Mills had a return on equity of 26.56% and a net margin of 12.57%. The business had revenue of $4.71 billion during the quarter, compared to analyst estimates of $4.85 billion. During the same quarter in the previous year, the business earned $1.12 earnings per share. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. Research analysts predict that General Mills, Inc. will post 4.5 EPS for the current year.

General Mills Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.79%. The ex-dividend date is Wednesday, July 10th. This is an increase from General Mills’s previous quarterly dividend of $0.59. General Mills’s dividend payout ratio is 54.76%.

Wall Street Analysts Forecast Growth

Several analysts have commented on GIS shares. Mizuho boosted their price target on shares of General Mills from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, March 21st. Citigroup cut their price target on General Mills from $71.00 to $68.00 and set a “neutral” rating for the company in a report on Thursday. Wells Fargo & Company decreased their price objective on General Mills from $70.00 to $67.00 and set an “equal weight” rating on the stock in a report on Thursday. Stifel Nicolaus cut their target price on shares of General Mills from $77.00 to $70.00 and set a “buy” rating for the company in a report on Thursday. Finally, JPMorgan Chase & Co. decreased their price target on shares of General Mills from $70.00 to $63.00 and set a “neutral” rating on the stock in a research note on Thursday. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $70.44.

Insiders Place Their Bets

In other news, insider Werner Lanette Shaffer sold 710 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $70.57, for a total transaction of $50,104.70. Following the completion of the sale, the insider now directly owns 17,397 shares of the company’s stock, valued at $1,227,706.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.24% of the company’s stock.

General Mills 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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.