JPL Wealth Management LLC Has $2.44 Million Stock Position in General Mills, Inc. (NYSE:GIS)

JPL Wealth Management LLC lifted its stake in shares of General Mills, Inc. (NYSE:GIS) by 7.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,507 shares of the company’s stock after purchasing an additional 2,599 shares during the period. JPL Wealth Management LLC’s holdings in General Mills were worth $2,436,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. International Assets Investment Management LLC boosted its stake in shares of General Mills by 7.4% during the 4th quarter. International Assets Investment Management LLC now owns 7,862 shares of the company’s stock worth $512,000 after acquiring an additional 539 shares during the period. Great Valley Advisor Group Inc. increased its holdings in shares of General Mills by 10.6% in the fourth quarter. Great Valley Advisor Group Inc. now owns 7,389 shares of the company’s stock valued at $481,000 after purchasing an additional 706 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of General Mills by 0.9% in the fourth quarter. Fisher Asset Management LLC now owns 111,253 shares of the company’s stock valued at $7,247,000 after purchasing an additional 998 shares during the period. First Horizon Advisors Inc. lifted its stake in shares of General Mills by 10.3% during the 4th quarter. First Horizon Advisors Inc. now owns 9,060 shares of the company’s stock worth $590,000 after buying an additional 845 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its holdings in shares of General Mills by 1.3% during the 4th quarter. Commonwealth Equity Services LLC now owns 423,732 shares of the company’s stock worth $27,602,000 after buying an additional 5,540 shares during the period. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Price Performance

Shares of GIS traded up $0.93 during midday trading on Friday, hitting $72.29. The company’s stock had a trading volume of 3,645,786 shares, compared to its average volume of 2,912,838. 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 one year low of $60.33 and a one year high of $74.45. The stock has a market capitalization of $40.24 billion, a price-to-earnings ratio of 16.77, a price-to-earnings-growth ratio of 4.09 and a beta of 0.09. The company’s fifty day simple moving average is $66.81 and its two-hundred day simple moving average is $67.53.

General Mills (NYSE:GIS) last released its earnings results on Wednesday, June 26th. The company reported $1.01 earnings per share (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 firm had revenue of $4.71 billion for the quarter, compared to analysts’ expectations of $4.85 billion. During the same quarter in the previous year, the business posted $1.12 earnings per share. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, equities analysts expect that General Mills, Inc. will post 4.49 earnings per share for the current fiscal year.

General Mills Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders 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 dividend on an annualized basis and a yield of 3.32%. This is a positive change from General Mills’s previous quarterly dividend of $0.59. General Mills’s dividend payout ratio (DPR) is currently 55.68%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Wells Fargo & Company lowered 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 report on Thursday, June 27th. Bank of America dropped their price target on General Mills from $70.00 to $68.00 and set a “neutral” rating for the company in a report on Thursday, June 27th. Argus reaffirmed a “hold” rating on shares of General Mills in a report on Tuesday, July 16th. JPMorgan Chase & Co. dropped their target price on General Mills from $70.00 to $63.00 and set a “neutral” rating for the company in a report on Thursday, June 27th. Finally, The Goldman Sachs Group assumed coverage on shares of General Mills in a research note on Monday, August 12th. They issued a “buy” rating and a $76.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average 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.