3,682 Shares in General Mills, Inc. (NYSE:GIS) Bought by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC purchased a new position in General Mills, Inc. (NYSE:GIS) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,682 shares of the company’s stock, valued at approximately $258,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Morgan Stanley grew its holdings in shares of General Mills by 0.3% during the third quarter. Morgan Stanley now owns 8,242,274 shares of the company’s stock worth $527,423,000 after buying an additional 23,400 shares in the last quarter. Capital World Investors grew its holdings in shares of General Mills by 7.6% during the fourth quarter. Capital World Investors now owns 7,074,884 shares of the company’s stock worth $460,858,000 after buying an additional 501,717 shares in the last quarter. Norges Bank purchased a new stake in shares of General Mills during the fourth quarter worth $377,205,000. Dimensional Fund Advisors LP grew its holdings in shares of General Mills by 4.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,003,306 shares of the company’s stock worth $325,909,000 after buying an additional 235,938 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of General Mills by 106.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,442,653 shares of the company’s stock worth $224,254,000 after buying an additional 1,778,345 shares in the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

General Mills Stock Down 0.7 %

Shares of GIS traded down $0.45 during mid-day trading on Friday, hitting $63.26. 13,274,287 shares of the company’s stock were exchanged, compared to its average volume of 4,473,323. The company has a market cap of $35.31 billion, a price-to-earnings ratio of 14.68, a P/E/G ratio of 3.01 and a beta of 0.12. General Mills, Inc. has a fifty-two week low of $60.33 and a fifty-two week high of $77.63. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.40 and a current ratio of 0.65. The stock’s 50-day moving average is $68.51 and its 200-day moving average is $66.75.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, June 26th. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.02. The business had revenue of $4.71 billion for the quarter, compared to analysts’ expectations of $4.85 billion. General Mills had a net margin of 12.57% and a return on equity of 26.56%. The business’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.12 earnings per share. On average, sell-side analysts anticipate that General Mills, Inc. will post 4.5 earnings per share for the current fiscal year.

General Mills Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.79%. This is a positive change from General Mills’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Wednesday, July 10th. General Mills’s dividend payout ratio is presently 54.76%.

Insider Buying and Selling

In related news, insider Werner Lanette Shaffer sold 710 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 17,397 shares in the company, valued at $1,227,706.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

GIS has been the subject of a number of research reports. Mizuho upped their target price on shares of General Mills from $65.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, March 21st. Royal Bank of Canada reissued a “sector perform” rating and set a $70.00 price target on shares of General Mills in a research report on Thursday. HSBC boosted their price target on shares of General Mills from $74.00 to $76.00 and gave the company a “hold” rating in a research report on Thursday, March 21st. Evercore ISI lowered their price target on shares of General Mills from $76.00 to $72.00 and set an “in-line” rating on the stock in a research report on Friday. Finally, Bank of America lowered 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 report on Thursday. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $70.44.

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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.