Institute for Wealth Management LLC. Buy 209 shares of General Mills, Inc. (NYSE:GIS)

Institute for Wealth Management LLC. increased its holdings in shares of General Mills, Inc. (NYSE:GIS – Free Report) by 4.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 5,010 shares of the company’s stock after acquiring an additional 209 shares during the quarter. Institute for Wealth Management LLC’s holdings in General Mills were worth $317,000 at the end of the most recent reporting period.

Other hedge funds have recently made changes to their positions in the company. Optimist Retirement Group LLC bought a new stake in General Mills in the fourth quarter valued at $1,171,000. State Board of Administration of Florida Retirement System raised its stake in shares of General Mills by 5.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 688,543 shares of the company’s stock worth $48,177,000 after buying an additional 38,021 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in General Mills by 16.1% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 696,170 shares of the company’s stock valued at $48,711,000 after purchasing an additional 96,712 shares during the period. Apollon Wealth Management LLC raised its position in shares of General Mills by 122.7% in the fourth quarter. Apollon Wealth Management LLC now owns 23,675 shares of the company’s stock valued at $1,542,000 after acquiring an additional 13,043 shares during the period. Finally, Mitchell Sinkler & Starr PA raised its stake in shares of General Mills by 164.1% during the fourth quarter. Mitchell Sinkler & Starr PA now owns 18,182 shares of the company’s stock valued at $1,307,000 after acquiring an additional 11,298 shares in the last quarter. 75.71% of shares are currently owned by institutional investors.

General Mills trading rose 0.2%

NYSE:GIS opened at $70.83 on Monday. The stock has a market cap of $39.53 billion, a price-to-earnings ratio of 16.43, a PEG ratio of 3.83 and a beta of 0.09. General Mills, Inc. it has a 52-week low of $60.33 and a 52-week high of $74.45. The company has a quick ratio of 0.38, a current ratio of 0.65, and a debt-to-equity ratio of 1.17. The company’s 50-day moving average price is $66.33 and its 200-day moving average price is $67.26.

General Mills (NYSE:GIS – Get Free Report ) last announced its quarterly 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. 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 the consensus estimate of $4.85 billion. In the same period last year, the company posted earnings of $1.12 per share. The company’s quarterly revenue was down 6.3% year over year. On average, equities research analysts forecast that General Mills, Inc. will post 4.49 earnings per share for the current fiscal year.

General Mills raises dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were given a dividend of $0.60 per share. This is an increase from General Mills’ previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a dividend of $2.40 on an annualized basis and a yield of 3.39%. General Mills’ dividend yield is 55.68%.

The Wall Street analyst weighs in

Several equities research analysts have weighed in on GIS shares. Mizuho dropped their price objective on General Mills from $70.00 to $62.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. Citigroup cut their price target on shares of General Mills from $71.00 to $68.00 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. Evercore ISI lowered 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 report on Friday, June 28th. Stifel Nicolaus cut their price target 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. Finally, Goldman Sachs Group started coverage on shares of General Mills in a report on Monday, August 12th. They set a “buy” rating and a $76.00 price target on the stock. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $69.71, based on data from MarketBeat.

See the latest inventory report on GIS

About General Mills

(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. Offers cereal, ready-to-eat cereal, chilled yogurt, soup, meal kits, chilled and frozen baked goods, dessert and baking mixes, bread 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 mixes, frozen breakfasts and entrees, nutrition bars and frozen and shelf-stable vegetables.

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