Axxcess Wealth Management LLC Has $2.37 Million Stock Holdings in General Mills, Inc. (NYSE:GIS)

Axxcess Wealth Management LLC grew its holdings in shares of General Mills, Inc. (NYSE:GIS) by 22.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,485 shares of the company’s stock after buying an additional 6,880 shares during the quarter. Axxcess Wealth Management LLC’s holdings in General Mills were worth $2,371,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in General Mills by 16.3% in the 1st quarter. Vanguard Group Inc. now owns 60,298,880 shares of the company’s stock valued at $4,219,113,000 after acquiring an additional 8,444,312 shares in the last quarter. Norges Bank purchased a new stake in shares of General Mills in the fourth quarter worth approximately $377,205,000. Capital Research Global Investors raised its stake in shares of General Mills by 22.3% in the first quarter. Capital Research Global Investors now owns 13,650,388 shares of the company’s stock worth $955,118,000 after purchasing an additional 2,488,341 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of General Mills by 100.4% in the second quarter. American Century Companies Inc. now owns 4,728,710 shares of the company’s stock valued at $299,138,000 after purchasing an additional 2,368,563 shares in the last quarter. Finally, Wulff Hansen & CO. boosted its position in shares of General Mills by 6,140.4% during the second quarter. Wulff Hansen & CO. now owns 945,421 shares of the company’s stock valued at $59,807,000 after buying an additional 930,271 shares during the last quarter. 75.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on GIS shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $70.00 price target on shares of General Mills in a research report on Thursday, June 27th. Mizuho lowered their target price on shares of General Mills from $70.00 to $62.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. Wells Fargo & Company boosted their price target on shares of General Mills from $67.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, September 13th. The Goldman Sachs Group started coverage on shares of General Mills in a research report on Monday, August 12th. They issued a “buy” rating and a $76.00 price objective for the company. Finally, Argus reissued a “hold” rating on shares of General Mills in a research report on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, General Mills presently has an average rating of “Hold” and an average price target of $70.60.

General Mills Stock Performance

NYSE:GIS opened at $74.50 on Wednesday. General Mills, Inc. has a 1 year low of $60.33 and a 1 year high of $75.90. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.65 and a quick ratio of 0.38. The business has a fifty day simple moving average of $69.21 and a two-hundred day simple moving average of $68.35. The company has a market capitalization of $41.58 billion, a P/E ratio of 17.29, a P/E/G ratio of 3.86 and a beta of 0.10.

General Mills (NYSE:GIS) last announced its quarterly earnings data 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. The company had revenue of $4.71 billion during the quarter, compared to analyst estimates 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 for the quarter was down 6.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.12 EPS. On average, analysts expect that General Mills, Inc. will post 4.5 earnings per share for the current year.

General Mills Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were given a $0.60 dividend. The ex-dividend date was Wednesday, July 10th. This represents a $2.40 annualized dividend and a dividend yield of 3.22%. This is a positive change from General Mills’s previous quarterly dividend of $0.59. General Mills’s payout ratio is 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 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.