LRI Investments LLC Makes New $240,000 Investment in General Mills, Inc. (NYSE:GIS)

LRI Investments LLC bought a new position in shares of General Mills, Inc. (NYSE:GIS) in the first quarter, Holdings Channel reports. The firm bought 3,393 shares of the company’s stock, valued at approximately $240,000.

Several other large investors also recently made changes to their positions in GIS. Cetera Trust Company N.A acquired a new position in General Mills in the 4th quarter worth $50,000. Optimist Retirement Group LLC acquired a new stake in shares of General Mills in the 4th quarter worth about $1,171,000. State Board of Administration of Florida Retirement System boosted its position in shares of General Mills by 5.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 688,543 shares of the company’s stock worth $48,177,000 after buying an additional 38,021 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of General Mills by 16.1% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 696,170 shares of the company’s stock worth $48,711,000 after purchasing an additional 96,712 shares in the last quarter. Finally, Apollon Wealth Management LLC grew its position in General Mills by 122.7% in the 4th quarter. Apollon Wealth Management LLC now owns 23,675 shares of the company’s stock valued at $1,542,000 after buying an additional 13,043 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

Insider Activity at General Mills

In other General Mills news, insider Werner Lanette Shaffer sold 710 shares of General Mills 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 owns 17,397 shares of the company’s stock, valued at approximately $1,227,706.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.24% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on GIS shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $70.00 price target on shares of General Mills in a research report on Thursday, June 27th. Evercore ISI reduced their price target on shares of General Mills from $76.00 to $72.00 and set an “in-line” rating for the company in a research report on Friday, June 28th. Bank of America lowered their target price on General Mills from $70.00 to $68.00 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. Wells Fargo & Company dropped their price target on shares of General Mills from $70.00 to $67.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 27th. Finally, Stifel Nicolaus cut their price objective on shares of General Mills from $77.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, June 27th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $68.82.

General Mills Stock Performance

Shares of NYSE:GIS traded up $0.49 on Friday, hitting $66.32. 2,548,167 shares of the company were exchanged, compared to its average volume of 3,574,117. General Mills, Inc. has a one year low of $60.33 and a one year high of $76.15. The firm has a market capitalization of $37.02 billion, a price-to-earnings ratio of 15.39, a PEG ratio of 3.75 and a beta of 0.09. The company’s 50 day moving average price is $65.84 and its two-hundred day moving average price is $66.53. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.38 and a current ratio of 0.65.

General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, June 26th. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.02. The firm had revenue of $4.71 billion for the quarter, compared to analysts’ expectations of $4.85 billion. General Mills had a return on equity of 26.56% and a net margin of 12.57%. The business’s revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.12 earnings per share. Research analysts expect that General Mills, Inc. will post 4.49 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 issued a dividend of $0.60 per share. This is an increase from General Mills’s previous quarterly dividend of $0.59. The ex-dividend date is Wednesday, July 10th. This represents a $2.40 annualized dividend and a yield of 3.62%. General Mills’s dividend payout ratio is currently 55.68%.

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.