IHT Wealth Management LLC Makes New Investment in General Mills, Inc. (NYSE:GIS)

IHT Wealth Management LLC acquired a new position in General Mills, Inc. (NYSE:GIS) during the third quarter, HoldingsChannel reports. The firm acquired 5,223 shares of the company’s stock, valued at approximately $288,000.

Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in General Mills by 15.8% in the second quarter. BlackRock Inc. now owns 47,890,359 shares of the company’s stock valued at $2,515,202,000 after buying an additional 6,544,997 shares during the period. Vanguard Group Inc. grew its stake in General Mills by 1.4% during the second quarter. Vanguard Group Inc. now owns 47,174,991 shares of the company’s stock worth $2,477,631,000 after buying an additional 643,774 shares during the period. State Street Corp grew its stake in General Mills by 1.2% during the third quarter. State Street Corp now owns 35,381,995 shares of the company’s stock worth $1,950,256,000 after buying an additional 435,266 shares during the period. Invesco Ltd. increased its position in shares of General Mills by 0.9% in the second quarter. Invesco Ltd. now owns 18,063,593 shares of the company’s stock worth $948,701,000 after acquiring an additional 159,380 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of General Mills by 44.6% in the second 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 in the last quarter. Institutional investors own 69.69% of the company’s stock.

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

GIS opened at $53.48 on Tuesday. General Mills, Inc. has a twelve month low of $36.42 and a twelve month high of $56.40. The firm has a market cap of $32.23 billion, a price-to-earnings ratio of 16.16, a PEG ratio of 2.26 and a beta of 0.72. The company has a current ratio of 0.62, a quick ratio of 0.37 and a debt-to-equity ratio of 1.51. The company has a fifty day simple moving average of $52.26 and a 200 day simple moving average of $53.11.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, September 18th. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.02. The company had revenue of $4 billion during the quarter, compared to analysts’ expectations of $4.08 billion. General Mills had a net margin of 11.21% and a return on equity of 27.38%. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.71 EPS. On average, analysts forecast that General Mills, Inc. will post 3.37 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 3.66%. The ex-dividend date of this dividend is Thursday, January 9th. General Mills’s dividend payout ratio (DPR) is 60.87%.

A number of brokerages have recently commented on GIS. Credit Suisse Group reissued a “hold” rating and issued a $56.00 target price on shares of General Mills in a research note on Thursday, September 12th. Stifel Nicolaus upped their price target on shares of General Mills from $52.00 to $54.00 and gave the stock a “hold” rating in a research report on Thursday, September 19th. Morgan Stanley increased their price target on General Mills from $52.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, September 19th. Zacks Investment Research upgraded General Mills from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a report on Thursday, August 22nd. Finally, Royal Bank of Canada initiated coverage on General Mills in a research report on Thursday, October 17th. They issued a “sector perform” rating and a $57.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. General Mills currently has an average rating of “Hold” and a consensus price target of $53.82.

General Mills Profile

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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