General Mills, Inc. (NYSE:GIS) Stock Holdings Increased by Simplicity Wealth LLC

Simplicity Wealth LLC boosted its stake in shares of General Mills, Inc. (NYSE:GIS) by 5.3% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 35,306 shares of the company’s stock after purchasing an additional 1,781 shares during the period. Simplicity Wealth LLC’s holdings in General Mills were worth $2,233,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MeadowBrook Investment Advisors LLC acquired a new stake in shares of General Mills during the 4th quarter valued at about $27,000. Rise Advisors LLC raised its position in General Mills by 199.3% during the first quarter. Rise Advisors LLC now owns 410 shares of the company’s stock valued at $29,000 after acquiring an additional 273 shares in the last quarter. Capital Advisors Ltd. LLC lifted its stake in General Mills by 409.8% in the first quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock valued at $29,000 after acquiring an additional 336 shares during the last quarter. Fortis Group Advisors LLC grew its position in 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 acquiring an additional 229 shares in the last quarter. Finally, RFP Financial Group LLC increased its stake in shares of General Mills by 66.3% during the 1st quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock worth $30,000 after purchasing an additional 173 shares during the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GIS has been the subject of a number of recent research reports. Bank of America decreased their price objective on shares of General Mills from $70.00 to $68.00 and set a “neutral” rating for the company in a report on Thursday, June 27th. Sanford C. Bernstein raised General Mills from an “underperform” rating to a “market perform” rating and increased their price objective for the company from $62.00 to $70.00 in a report on Wednesday, May 15th. Evercore ISI cut their price objective on General Mills from $76.00 to $72.00 and set an “in-line” rating on the stock in a research note on Friday, June 28th. Mizuho decreased their target price on General Mills from $70.00 to $62.00 and set a “neutral” rating for the company in a research report on Wednesday, July 3rd. Finally, JPMorgan Chase & Co. lowered their price target on General Mills from $70.00 to $63.00 and set a “neutral” rating on the stock in a report on Thursday, June 27th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, General Mills has an average rating of “Hold” and an average price target of $68.82.

Insider Activity at General Mills

In related news, insider Werner Lanette Shaffer sold 710 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $70.57, for a total value of $50,104.70. Following the completion of the transaction, the insider now owns 17,397 shares of the company’s stock, valued at $1,227,706.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.24% of the stock is currently owned by insiders.

General Mills Trading Up 0.3 %

General Mills stock opened at $69.04 on Friday. The business has a 50 day moving average price of $65.74 and a two-hundred day moving average price of $66.81. The company has a quick ratio of 0.38, 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 $74.45. The stock has a market cap of $38.53 billion, a price-to-earnings ratio of 16.02, a price-to-earnings-growth ratio of 3.83 and a beta of 0.09.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, June 26th. The company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates 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 period in the prior year, the company posted $1.12 earnings per share. General Mills’s revenue was down 6.3% on a year-over-year basis. As a group, equities analysts forecast that General Mills, Inc. will post 4.49 EPS for the current year.

General Mills Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were given a dividend of $0.60 per share. This is a positive change from General Mills’s previous quarterly dividend of $0.59. This represents a $2.40 annualized dividend and a dividend yield of 3.48%. The ex-dividend date of this dividend was Wednesday, July 10th. General Mills’s payout ratio is 55.68%.

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.