General Mills, Inc. (NYSE:GIS) Stock Position Lowered by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC lessened its position in General Mills, Inc. (NYSE:GIS) by 1.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 19,632 shares of the company’s stock after selling 363 shares during the period. Cornerstone Wealth Management LLC’s holdings in General Mills were worth $1,374,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of GIS. Teza Capital Management LLC bought a new stake in shares of General Mills in the 3rd quarter worth $428,000. JPMorgan Chase & Co. raised its stake in shares of General Mills by 17.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,220,646 shares of the company’s stock worth $142,099,000 after buying an additional 328,585 shares in the last quarter. Sei Investments Co. raised its position in shares of General Mills by 9.2% during the third quarter. Sei Investments Co. now owns 253,379 shares of the company’s stock worth $16,215,000 after purchasing an additional 21,299 shares during the period. Royal London Asset Management Ltd. raised its position in shares of General Mills by 6.9% during the third quarter. Royal London Asset Management Ltd. now owns 244,523 shares of the company’s stock worth $15,648,000 after purchasing an additional 15,707 shares during the period. Finally, Baker Avenue Asset Management LP raised its position in shares of General Mills by 533.6% during the third quarter. Baker Avenue Asset Management LP now owns 830 shares of the company’s stock worth $53,000 after purchasing an additional 699 shares during the period. Institutional investors own 75.71% of the company’s stock.

Insider Transactions at General Mills

In other news, insider Werner Lanette Shaffer sold 710 shares of the company’s stock in a transaction dated Monday, May 13th. The stock was 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 owns 17,397 shares in the company, valued at approximately $1,227,706.29. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.24% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

GIS has been the topic of a number of recent analyst reports. Citigroup cut their target price on General Mills from $71.00 to $68.00 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. Bank of America cut their target price on General Mills from $70.00 to $68.00 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. Stifel Nicolaus cut their target price on General Mills from $77.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, June 27th. JPMorgan Chase & Co. cut their target price on General Mills from $70.00 to $63.00 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. Finally, TD Cowen boosted their target price on General Mills from $68.00 to $70.00 and gave the stock a “market perform” rating in a research report on Thursday, March 21st. Two investment 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. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $70.00.

General Mills Stock Performance

Shares of NYSE GIS opened at $63.08 on Friday. The business’s 50-day moving average price is $67.86 and its two-hundred day moving average price is $66.65. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.65 and a quick ratio of 0.38. General Mills, Inc. has a one year low of $60.33 and a one year high of $77.63. The company has a market capitalization of $35.21 billion, a P/E ratio of 14.64, a price-to-earnings-growth ratio of 3.56 and a beta of 0.09.

General Mills (NYSE:GIS) last released its quarterly earnings results 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. The company had revenue of $4.71 billion during the quarter, compared to the consensus estimate of $4.85 billion. General Mills had a return on equity of 26.56% and a net margin of 12.57%. The firm’s revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.12 EPS. Analysts anticipate that General Mills, Inc. will post 4.5 earnings per share for the current fiscal year.

General Mills Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.80%. 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%.

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.