Sagespring Wealth Partners LLC Raises Stock Holdings in General Mills, Inc. $GIS

Sagespring Wealth Partners LLC boosted its holdings in General Mills, Inc. (NYSE:GIS) by 11.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,441 shares of the company’s stock after purchasing an additional 463 shares during the period. Sagespring Wealth Partners LLC’s holdings in General Mills were worth $230,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted its holdings in General Mills by 434.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 19,041,194 shares of the company’s stock valued at $1,138,473,000 after purchasing an additional 15,480,835 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in General Mills by 8.1% in the first quarter. Ameriprise Financial Inc. now owns 9,864,819 shares of the company’s stock valued at $589,814,000 after purchasing an additional 741,432 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in General Mills by 4.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,161,951 shares of the company’s stock valued at $428,213,000 after purchasing an additional 315,375 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in General Mills by 10.0% in the first quarter. Dimensional Fund Advisors LP now owns 6,986,128 shares of the company’s stock valued at $417,674,000 after purchasing an additional 634,393 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in General Mills by 6.9% in the first quarter. Invesco Ltd. now owns 6,403,879 shares of the company’s stock valued at $382,888,000 after purchasing an additional 414,768 shares during the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Insider Buying and Selling

In related news, insider Jacqueline Williams-Roll sold 4,000 shares of the firm’s 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 sale, the insider directly owned 66,593 shares in the company, valued at $3,332,313.72. This trade represents a 5.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.30% of the stock is currently owned by corporate insiders.

General Mills Stock Up 1.6%

Shares of General Mills stock opened at $48.48 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28. The business’s 50 day simple moving average is $49.65 and its 200-day simple moving average is $52.32. 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, Inc. has a twelve month low of $47.48 and a twelve month high of $70.60.

General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, September 17th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. The business had revenue of $4.52 billion for the quarter, compared to analysts’ expectations of $4.52 billion. General Mills had a return on equity of 23.46% and a net margin of 15.24%.The business’s quarterly revenue was down 6.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.07 EPS. Equities research analysts forecast that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Announces Dividend

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

Analyst Upgrades and Downgrades

GIS has been the topic of a number of research analyst reports. UBS Group reduced their target price on General Mills from $49.00 to $47.00 and set a “sell” rating on the stock in a report on Thursday, September 18th. Royal Bank Of Canada raised General Mills from a “sector perform” rating to an “outperform” rating and reduced their target price for the stock from $67.00 to $63.00 in a report on Thursday, June 26th. Mizuho reduced their target price on General Mills from $57.00 to $52.00 and set a “neutral” rating on the stock in a report on Friday, September 19th. Deutsche Bank Aktiengesellschaft reduced their target price on General Mills from $52.00 to $50.00 and set a “hold” rating on the stock in a report on Thursday, September 18th. Finally, Zacks Research raised General Mills from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 2nd. Four equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently 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.