Powers Advisory Group LLC Has $599,000 Holdings in General Mills, Inc. $GIS

Powers Advisory Group LLC reduced its position in General Mills, Inc. (NYSE:GIS) by 6.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,567 shares of the company’s stock after selling 770 shares during the period. Powers Advisory Group LLC’s holdings in General Mills were worth $599,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Garde Capital Inc. increased its position in General Mills by 101.5% in the 2nd quarter. Garde Capital Inc. now owns 524 shares of the company’s stock worth $27,000 after purchasing an additional 264 shares during the last quarter. Perkins Coie Trust Co increased its position in General Mills by 69.2% in the 1st quarter. Perkins Coie Trust Co now owns 516 shares of the company’s stock worth $31,000 after purchasing an additional 211 shares during the last quarter. Armstrong Advisory Group Inc. acquired a new position in General Mills in the 2nd quarter worth about $32,000. Smallwood Wealth Investment Management LLC acquired a new position in General Mills in the 1st quarter worth about $34,000. Finally, GKV Capital Management Co. Inc. acquired a new position in General Mills in the 1st quarter worth about $34,000. 75.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Jacqueline Williams-Roll sold 4,000 shares of the stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $50.04, for a total value of $200,160.00. Following the completion of the transaction, the insider directly owned 66,593 shares of the company’s stock, valued at approximately $3,332,313.72. This represents a 5.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.30% of the company’s stock.

General Mills Price Performance

Shares of GIS stock opened at $50.42 on Wednesday. The stock has a 50 day moving average of $49.77 and a two-hundred day moving average of $53.21. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28. General Mills, Inc. has a 12 month low of $48.29 and a 12 month high of $74.85. The company has a market capitalization of $26.90 billion, a P/E ratio of 9.53, a P/E/G ratio of 1.25 and a beta of -0.02.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, September 17th. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. General Mills had a return on equity of 23.46% and a net margin of 15.24%.The company had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.52 billion. During the same quarter last year, the company earned $1.07 EPS. The company’s quarterly revenue was down 6.8% on a year-over-year basis. As a group, equities analysts expect that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be issued a $0.61 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 4.8%. General Mills’s dividend payout ratio is presently 46.12%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on GIS shares. Barclays decreased their price target on General Mills from $54.00 to $52.00 and set an “equal weight” rating for the company in a research note on Friday, September 19th. Royal Bank Of Canada upgraded General Mills from a “sector perform” rating to an “outperform” rating and decreased their price target for the stock from $67.00 to $63.00 in a research note on Thursday, June 26th. Wells Fargo & Company set a $53.00 price target on General Mills and gave the stock an “equal weight” rating in a research note on Thursday, June 26th. Jefferies Financial Group decreased their price target on General Mills from $51.00 to $50.00 and set a “hold” rating for the company in a research note on Monday, September 8th. Finally, Stifel Nicolaus decreased their target price on General Mills from $65.00 to $56.00 and set a “buy” rating for the company in a research note on Thursday, June 26th. Four analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $55.82.

About General Mills

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.