Summit Financial Wealth Advisors LLC Acquires Shares of 3,550 General Mills, Inc. (NYSE:GIS)

Summit Financial Wealth Advisors LLC bought a new stake in General Mills, Inc. (NYSE:GIS) during the 1st quarter, Holdings Channel reports. The firm bought 3,550 shares of the company’s stock, valued at approximately $248,000.

Other institutional investors have also modified their holdings of the company. MeadowBrook Investment Advisors LLC purchased a new stake in shares of General Mills in the fourth quarter valued at about $27,000. Bruce G. Allen Investments LLC acquired a new stake in General Mills in the fourth quarter valued at about $28,000. Rise Advisors LLC boosted its holdings in General Mills by 199.3% in the 1st quarter. Rise Advisors LLC now owns 410 shares of the company’s stock valued at $29,000 after purchasing an additional 273 shares in the last quarter. Capital Advisors Ltd. LLC increased its position in General Mills by 409.8% during the 1st quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock worth $29,000 after purchasing an additional 336 shares during the period. Finally, Fortis Group Advisors LLC raised its stake in shares of General Mills by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 458 shares of the company’s stock worth $30,000 after buying an additional 229 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on GIS. Evercore ISI dropped their price objective on General Mills from $76.00 to $72.00 and set an “in-line” rating on the stock in a report on Friday, June 28th. Bank of America cut their price target 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. Mizuho decreased their price objective on shares of General Mills from $70.00 to $62.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $70.00 target price on shares of General Mills in a report on Thursday, June 27th. Finally, Wells Fargo & Company decreased their price target on General Mills from $70.00 to $67.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 27th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, General Mills presently has a consensus rating of “Hold” and an average price target of $70.00.

General Mills Trading Down 0.6 %

Shares of General Mills stock traded down $0.39 during mid-day trading on Monday, hitting $62.49. 2,932,907 shares of the stock were exchanged, compared to its average volume of 4,173,825. The stock has a market capitalization of $34.88 billion, a price-to-earnings ratio of 14.59, a price-to-earnings-growth ratio of 3.55 and a beta of 0.09. General Mills, Inc. has a twelve month low of $60.33 and a twelve month high of $77.63. The company has a current ratio of 0.65, a quick ratio of 0.38 and a debt-to-equity ratio of 1.17. The company has a 50-day simple moving average of $67.70 and a 200 day simple moving average of $66.64.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, June 26th. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.02. The firm had revenue of $4.71 billion for the quarter, compared to analyst estimates of $4.85 billion. General Mills had a net margin of 12.57% and a return on equity of 26.56%. General Mills’s revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.12 earnings per share. Research analysts forecast that General Mills, Inc. will post 4.5 EPS for the current year.

General Mills Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, July 10th. This is an increase from General Mills’s previous quarterly dividend of $0.59. This represents a $2.40 annualized dividend and a yield of 3.84%. General Mills’s dividend payout ratio is 54.76%.

Insiders Place Their Bets

In other news, insider Werner Lanette Shaffer sold 710 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $70.57, for a total transaction of $50,104.70. Following the completion of the transaction, the insider now owns 17,397 shares of the company’s stock, valued at approximately $1,227,706.29. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.24% of the stock is owned by corporate insiders.

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.