Wealthcare Advisory Partners LLC Makes New Investment in General Mills, Inc. (NYSE:GIS)

Wealthcare Advisory Partners LLC purchased a new stake in General Mills, Inc. (NYSE:GIS) in the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 5,518 shares of the company’s stock, valued at approximately $386,000.

Other institutional investors have also modified their holdings of the company. Teza Capital Management LLC bought a new position in shares of General Mills during the third quarter worth about $428,000. Quadrature Capital Ltd bought a new position in General Mills in the 3rd quarter worth about $3,150,000. Insigneo Advisory Services LLC increased its stake in shares of General Mills by 5.4% in the third quarter. Insigneo Advisory Services LLC now owns 4,004 shares of the company’s stock valued at $256,000 after purchasing an additional 206 shares during the period. AQR Capital Management LLC raised its holdings in shares of General Mills by 5.8% during the third quarter. AQR Capital Management LLC now owns 942,806 shares of the company’s stock valued at $60,330,000 after buying an additional 52,025 shares during the last quarter. Finally, Axxcess Wealth Management LLC boosted its position in shares of General Mills by 44.4% during the third quarter. Axxcess Wealth Management LLC now owns 38,982 shares of the company’s stock worth $2,495,000 after buying an additional 11,982 shares during the period. Institutional investors own 75.71% of the company’s stock.

Insider Buying and Selling at General Mills

In other news, insider Werner Lanette Shaffer sold 710 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $70.57, for a total value of $50,104.70. Following the completion of the sale, the insider now 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 SEC, which is accessible through this link. Company insiders own 0.24% of the company’s stock.

General Mills Stock Down 0.7 %

Shares of General Mills stock opened at $63.26 on Monday. The company has a quick ratio of 0.40, a current ratio of 0.65 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 firm has a market capitalization of $35.31 billion, a PE ratio of 14.68, a price-to-earnings-growth ratio of 3.01 and a beta of 0.12. The stock’s fifty day moving average is $68.51 and its 200-day moving average is $66.74.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, June 26th. The company reported $1.01 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $4.71 billion for the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter in the previous year, the company earned $1.12 EPS. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. Equities analysts anticipate that General Mills, Inc. will post 4.5 earnings per share for the current year.

General Mills Increases Dividend

The company 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 dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.79%. This is a boost from General Mills’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Wednesday, July 10th. General Mills’s payout ratio is presently 54.76%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GIS. Sanford C. Bernstein raised General Mills from an “underperform” rating to a “market perform” rating and lifted their target price for the company from $62.00 to $70.00 in a research note on Wednesday, May 15th. Wells Fargo & Company reduced their price objective on shares of General Mills from $70.00 to $67.00 and set an “equal weight” rating for the company in a report on Thursday. Royal Bank of Canada reissued a “sector perform” rating and set a $70.00 target price on shares of General Mills in a research note on Thursday. Morgan Stanley upped their price target on shares of General Mills from $58.00 to $61.00 and gave the stock an “underweight” rating in a research note on Thursday, March 21st. Finally, Barclays lowered their price objective on shares of General Mills from $72.00 to $67.00 and set an “equal weight” rating on the stock in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $70.44.

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