1858 Wealth Management LLC Has $347,000 Holdings in General Mills, Inc. (NYSE:GIS)

by · The Markets Daily

1858 Wealth Management LLC lowered its stake in shares of General Mills, Inc. (NYSE:GIS – Free Report) by 41.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,700 shares of the company’s stock after selling 3,324 shares during the period. 1858 Wealth Management LLC’s holdings in General Mills were worth $347,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Capital Advisors Ltd. LLC increased its stake in General Mills by 409.8% in the first quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock valued at $29,000 after purchasing an additional 336 shares in the last quarter. RFP Financial Group LLC lifted its holdings in General Mills by 66.3% during the first quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock worth $30,000 after acquiring an additional 173 shares in the last quarter. GoalVest Advisory LLC increased its stake in General Mills by 65.5% during the 1st quarter. GoalVest Advisory LLC now owns 455 shares of the company’s stock worth $32,000 after purchasing an additional 180 shares in the last quarter. First Foundation Advisors increased its holdings in General Mills by 400.0% during the 2nd quarter. First Foundation Advisors now owns 500 shares of the company’s stock worth $32,000 after purchasing an additional 400 shares in the last quarter. Finally, Riverview Trust Co acquired a new stake in General Mills in the 1st quarter valued at approximately $35,000. 75.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on GIS shares. Stifel Nicolaus boosted their price objective on shares of General Mills from $70.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Barclays increased their price objective on shares of General Mills from $67.00 to $74.00 and gave the company an “equal weight” rating in a research report on Friday, September 20th. The Goldman Sachs Group started 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. Evercore ISI cut their price objective on shares of General Mills from $76.00 to $72.00 and set an “in-line” rating for the company in a research report on Friday, June 28th. Finally, Bank of America upped their target price on General Mills from $68.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $73.00.

View Our Latest Analysis on General Mills

General Mills Price Performance

General Mills stock traded down $1.02 during trading hours on Monday, reaching $68.91. 1,381,741 shares of the stock were exchanged, compared to its average volume of 3,900,847. The stock has a 50 day moving average of $72.36 and a two-hundred day moving average of $69.21. The company has a market cap of $38.46 billion, a P/E ratio of 16.23, a price-to-earnings-growth ratio of 3.71 and a beta of 0.10. The company has a current ratio of 0.66, a quick ratio of 0.39 and a debt-to-equity ratio of 1.20. General Mills, Inc. has a twelve month low of $61.47 and a twelve month high of $75.90.

General Mills (NYSE:GIS – Get Free Report) last announced its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.80 billion. During the same period last year, the firm posted $1.09 earnings per share. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. Equities analysts expect that General Mills, Inc. will post 4.51 EPS for the current fiscal year.

General Mills Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend is Thursday, October 10th. General Mills’s dividend payout ratio (DPR) is presently 55.68%.

Insider Buying and Selling at General Mills

In other news, insider Pankaj Mn Sharma sold 2,325 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $74.63, for a total value of $173,514.75. Following the completion of the transaction, the insider now owns 36,184 shares of the company’s stock, valued at approximately $2,700,411.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Mark A. Pallot sold 8,083 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $71.28, for a total value of $576,156.24. Following the completion of the transaction, the chief accounting officer now owns 14,813 shares of the company’s stock, valued at $1,055,870.64. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Pankaj Mn Sharma sold 2,325 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $74.63, for a total transaction of $173,514.75. Following the sale, the insider now directly owns 36,184 shares in the company, valued at $2,700,411.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,055 shares of company stock worth $1,467,311 over the last 90 days. Insiders own 0.24% of the company’s stock.

General Mills Profile

(Free Report)

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.

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