Dumont & Blake Investment Advisors LLC Increases Position in General Mills, Inc. $GIS

Dumont & Blake Investment Advisors LLC lifted its holdings in General Mills, Inc. (NYSE:GIS) by 50.7% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,841 shares of the company’s stock after buying an additional 9,370 shares during the period. Dumont & Blake Investment Advisors LLC’s holdings in General Mills were worth $1,442,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kera Capital Partners Inc. purchased a new position in shares of General Mills in the 2nd quarter worth approximately $222,000. Victory Capital Management Inc. raised its holdings in shares of General Mills by 7.3% in the 1st quarter. Victory Capital Management Inc. now owns 522,576 shares of the company’s stock worth $31,245,000 after purchasing an additional 35,494 shares during the period. Commonwealth Equity Services LLC raised its holdings in shares of General Mills by 7.8% in the 1st quarter. Commonwealth Equity Services LLC now owns 452,844 shares of the company’s stock worth $27,076,000 after purchasing an additional 32,628 shares during the period. Rock Point Advisors LLC bought a new stake in shares of General Mills in the 1st quarter worth approximately $3,610,000. Finally, OVERSEA CHINESE BANKING Corp Ltd raised its holdings in shares of General Mills by 126.1% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 774,134 shares of the company’s stock worth $46,285,000 after purchasing an additional 431,693 shares during the period. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Mizuho lowered their price target on shares of General Mills from $57.00 to $52.00 and set a “neutral” rating on the stock in a report on Friday, September 19th. Jefferies Financial Group lowered their price target on shares of General Mills from $51.00 to $50.00 and set a “hold” rating on the stock in a report on Monday, September 8th. Morgan Stanley lowered their price target on shares of General Mills from $49.00 to $48.00 and set an “underweight” rating on the stock in a report on Monday, September 15th. Wells Fargo & Company set a $53.00 price target on shares of General Mills and gave the stock an “equal weight” rating in a report on Thursday, June 26th. Finally, Wall Street Zen raised shares of General Mills from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Four investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, General Mills currently has an average rating of “Hold” and a consensus target price of $55.82.

Insider Transactions at General Mills

In other General Mills news, insider Jacqueline Williams-Roll sold 4,000 shares of the business’s stock in a transaction on Friday, September 19th. The shares were sold at an average price of $50.04, for a total transaction of $200,160.00. Following the sale, the insider owned 66,593 shares of the company’s stock, valued at $3,332,313.72. The trade was a 5.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.30% of the stock is owned by insiders.

General Mills Trading Up 1.6%

Shares of GIS stock opened at $48.48 on Friday. The company’s fifty day simple moving average is $49.65 and its two-hundred day simple moving average is $52.32. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.66 and a quick ratio of 0.40. General Mills, Inc. has a 1 year low of $47.48 and a 1 year high of $70.60. The stock has a market capitalization of $25.86 billion, a price-to-earnings ratio of 9.16, a PEG ratio of 1.22 and a beta of -0.03.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, September 17th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. General Mills had a net margin of 15.24% and a return on equity of 23.46%. The business had revenue of $4.52 billion for the quarter, compared to analysts’ expectations of $4.52 billion. During the same quarter in the previous year, the firm posted $1.07 EPS. The business’s revenue for the quarter was down 6.8% compared to the same quarter last year. As a group, analysts anticipate that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be issued a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $2.44 dividend on an annualized basis and a yield of 5.0%. General Mills’s payout ratio is presently 46.12%.

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 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.