Arkadios Wealth Advisors Has $2.31 Million Position in General Mills, Inc. (NYSE:GIS)

Arkadios Wealth Advisors boosted its holdings in shares of General Mills, Inc. (NYSE:GIS) by 41.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,503 shares of the company’s stock after buying an additional 10,765 shares during the period. Arkadios Wealth Advisors’ holdings in General Mills were worth $2,309,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. boosted its stake in General Mills by 11.5% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 31,700 shares of the company’s stock valued at $2,005,000 after purchasing an additional 3,263 shares during the last quarter. Whittier Trust Co. raised its stake in shares of General Mills by 10.9% during the 2nd quarter. Whittier Trust Co. now owns 16,812 shares of the company’s stock worth $1,064,000 after purchasing an additional 1,653 shares during the period. HB Wealth Management LLC raised its holdings in shares of General Mills by 7.5% in the 2nd quarter. HB Wealth Management LLC now owns 42,102 shares of the company’s stock worth $2,663,000 after purchasing an additional 2,939 shares during the period. Kintegral Advisory LLC grew its stake in shares of General Mills by 153.9% during the 2nd quarter. Kintegral Advisory LLC now owns 115,265 shares of the company’s stock worth $7,292,000 after acquiring an additional 69,863 shares during the period. Finally, Atomi Financial Group Inc. boosted its position in General Mills by 17.7% during the second quarter. Atomi Financial Group Inc. now owns 4,967 shares of the company’s stock worth $314,000 after purchasing an additional 746 shares during the period. 75.71% of the stock is owned by institutional investors.

General Mills Price Performance

Shares of GIS stock traded down $0.20 during trading hours on Thursday, hitting $71.36. 3,114,356 shares of the company’s stock were exchanged, compared to its average volume of 3,956,632. The company has a market capitalization of $39.83 billion, a PE ratio of 16.52, a PEG ratio of 3.83 and a beta of 0.09. The company has a current ratio of 0.65, a quick ratio of 0.38 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 business’s 50 day simple moving average is $66.51 and its 200-day simple moving average is $67.37.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, June 26th. The company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.02. General Mills had a net margin of 12.57% and a return on equity of 26.56%. The business had revenue of $4.71 billion during the quarter, compared to the consensus estimate of $4.85 billion. During the same period in the previous year, the firm posted $1.12 earnings per share. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, equities research analysts anticipate that General Mills, Inc. will post 4.49 earnings per share for the current year.

General Mills Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were issued a dividend of $0.60 per share. The ex-dividend date was Wednesday, July 10th. This is a boost from General Mills’s previous quarterly dividend of $0.59. This represents a $2.40 annualized dividend and a yield of 3.36%. General Mills’s dividend payout ratio is currently 55.68%.

Wall Street Analyst Weigh In

A number of analysts recently commented on GIS shares. Bank of America dropped their price target on shares of General Mills from $70.00 to $68.00 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. Mizuho reduced their price target 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. Stifel Nicolaus dropped their price objective on General Mills from $77.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, June 27th. Citigroup lowered their price target on shares of General Mills from $71.00 to $68.00 and set a “neutral” rating on the stock in a report on Thursday, June 27th. Finally, Barclays lowered their target price 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, June 28th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $69.71.

General Mills Company 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 savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.