6,615 Shares in General Mills, Inc. (NYSE:GIS) Bought by Pathway Financial Advisers LLC

Pathway Financial Advisers LLC acquired a new stake in shares of General Mills, Inc. (NYSE:GIS) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 6,615 shares of the company’s stock, valued at approximately $463,000.

Other hedge funds have also recently bought and sold shares of the company. Private Trust Co. NA lifted its holdings in General Mills by 1.4% during the first quarter. Private Trust Co. NA now owns 10,280 shares of the company’s stock worth $719,000 after acquiring an additional 140 shares during the period. North Star Investment Management Corp. boosted its holdings in shares of General Mills by 0.8% in the 1st quarter. North Star Investment Management Corp. now owns 17,228 shares of the company’s stock worth $1,205,000 after buying an additional 145 shares during the last quarter. Park Place Capital Corp boosted its holdings in shares of General Mills by 40.6% in the 1st quarter. Park Place Capital Corp now owns 540 shares of the company’s stock worth $38,000 after buying an additional 156 shares during the last quarter. Nicholas Hoffman & Company LLC. grew its position in General Mills by 2.9% during the fourth quarter. Nicholas Hoffman & Company LLC. now owns 5,866 shares of the company’s stock valued at $382,000 after buying an additional 164 shares during the period. Finally, Gulf International Bank UK Ltd increased its holdings in General Mills by 0.3% during the first quarter. Gulf International Bank UK Ltd now owns 48,176 shares of the company’s stock worth $3,370,000 after buying an additional 165 shares during the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Werner Lanette Shaffer sold 710 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $70.57, for a total value of $50,104.70. Following the completion of the transaction, the insider now directly owns 17,397 shares in the company, valued at $1,227,706.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.24% of the company’s stock.

General Mills Price Performance

Shares of General Mills stock traded up $1.61 during trading on Friday, hitting $69.28. The stock had a trading volume of 5,271,531 shares, compared to its average volume of 3,484,521. The company has a current ratio of 0.65, a quick ratio of 0.38 and a debt-to-equity ratio of 1.17. General Mills, Inc. has a 12 month low of $60.33 and a 12 month high of $75.77. The firm has a market cap of $38.67 billion, a price-to-earnings ratio of 16.07, a P/E/G ratio of 3.83 and a beta of 0.09. The business’s 50-day moving average is $65.62 and its 200 day moving average is $66.66.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, June 26th. The company reported $1.01 earnings per share for the quarter, topping 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 business had revenue of $4.71 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same period in the prior year, the company earned $1.12 EPS. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that General Mills, Inc. will post 4.49 earnings per share for the current year.

General Mills Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date was Wednesday, July 10th. This is a boost from General Mills’s previous quarterly dividend of $0.59. General Mills’s payout ratio is currently 55.68%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. dropped their target price on shares of General Mills from $70.00 to $63.00 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. Wells Fargo & Company reduced their price objective on General Mills from $70.00 to $67.00 and set an “equal weight” rating for the company in a report on Thursday, June 27th. Stifel Nicolaus decreased their target price on General Mills from $77.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, June 27th. Barclays dropped their price target on General Mills from $72.00 to $67.00 and set an “equal weight” rating on the stock in a research report on Friday, June 28th. Finally, Evercore ISI decreased their price objective on General Mills from $76.00 to $72.00 and set an “in-line” rating for the company in a report on Friday, June 28th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $68.82.

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.