Taylor Hoffman Wealth Management Boosts Holdings in General Mills, Inc. (NYSE:GIS)

Taylor Hoffman Wealth Management boosted its position in shares of General Mills, Inc. (NYSE:GIS) by 13.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,527 shares of the company’s stock after acquiring an additional 3,200 shares during the period. General Mills accounts for 1.1% of Taylor Hoffman Wealth Management’s holdings, making the stock its 28th biggest position. Taylor Hoffman Wealth Management’s holdings in General Mills were worth $1,517,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of GIS. BlackRock Inc. lifted its position in General Mills by 15.8% during the second quarter. BlackRock Inc. now owns 47,890,359 shares of the company’s stock valued at $2,515,202,000 after acquiring an additional 6,544,997 shares during the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of General Mills by 24,698.3% during the 2nd quarter. Nuveen Asset Management LLC now owns 3,637,916 shares of the company’s stock worth $191,063,000 after acquiring an additional 3,623,246 shares during the period. Iridian Asset Management LLC CT purchased a new position in shares of General Mills during the 2nd quarter worth about $106,946,000. Renaissance Technologies LLC lifted its holdings in shares of General Mills by 44.6% during the 2nd quarter. Renaissance Technologies LLC now owns 5,313,884 shares of the company’s stock worth $279,085,000 after acquiring an additional 1,639,900 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of General Mills by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 47,174,991 shares of the company’s stock worth $2,477,631,000 after acquiring an additional 643,774 shares during the period. 68.77% of the stock is owned by institutional investors.

GIS has been the topic of several recent analyst reports. Edward Jones upgraded shares of General Mills from a “hold” rating to a “buy” rating in a report on Monday, July 15th. Royal Bank of Canada initiated coverage on shares of General Mills in a report on Thursday, October 17th. They set a “sector perform” rating and a $57.00 price objective on the stock. ValuEngine lowered shares of General Mills from a “sell” rating to a “strong sell” rating in a report on Friday, November 1st. Stifel Nicolaus increased their price objective on shares of General Mills from $52.00 to $54.00 and gave the stock a “hold” rating in a report on Thursday, September 19th. Finally, Morgan Stanley increased their price objective on shares of General Mills from $52.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, September 19th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. General Mills presently has an average rating of “Hold” and a consensus target price of $53.82.

Shares of GIS traded up $0.52 during mid-day trading on Friday, reaching $52.50. 2,629,920 shares of the stock traded hands, compared to its average volume of 4,115,356. The firm has a market cap of $31.18 billion, a price-to-earnings ratio of 16.30, a P/E/G ratio of 2.19 and a beta of 0.71. The stock has a fifty day simple moving average of $52.93 and a 200 day simple moving average of $52.93. General Mills, Inc. has a 12-month low of $36.42 and a 12-month high of $56.40. The company has a quick ratio of 0.37, a current ratio of 0.62 and a debt-to-equity ratio of 1.51.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, September 18th. The company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.02. The business had revenue of $4 billion during the quarter, compared to the consensus estimate of $4.08 billion. General Mills had a net margin of 11.21% and a return on equity of 27.38%. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.71 earnings per share. On average, equities research analysts expect that General Mills, Inc. will post 3.36 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were given a $0.49 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $1.96 annualized dividend and a dividend yield of 3.73%. General Mills’s dividend payout ratio is presently 60.87%.

In other General Mills news, insider Kofi A. Bruce sold 15,582 shares of General Mills stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $54.33, for a total transaction of $846,570.06. Following the transaction, the insider now directly owns 35,487 shares of the company’s stock, valued at $1,928,008.71. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Jonathon Nudi sold 18,951 shares of General Mills stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $54.52, for a total transaction of $1,033,208.52. Following the transaction, the insider now directly owns 81,656 shares in the company, valued at $4,451,885.12. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by company insiders.

About General Mills

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.

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Institutional Ownership by Quarter for General Mills (NYSE:GIS)

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