Econ Financial Services Corp Purchases Shares of 13,264 General Mills, Inc. $GIS

Econ Financial Services Corp purchased a new stake in General Mills, Inc. (NYSE:GIS) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 13,264 shares of the company’s stock, valued at approximately $687,000.

Several other large investors have also recently bought and sold shares of GIS. Kera Capital Partners Inc. bought a new position in shares of General Mills during the second quarter worth approximately $222,000. Victory Capital Management Inc. increased its holdings in shares of General Mills by 7.3% during the first 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 increased its holdings in shares of General Mills by 7.8% during the first 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 position in shares of General Mills during the first quarter worth approximately $3,610,000. Finally, OVERSEA CHINESE BANKING Corp Ltd increased its holdings in shares of General Mills by 126.1% during the first 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. 75.71% of the stock is owned by institutional investors.

Insiders Place Their Bets

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

General Mills Stock Performance

Shares of General Mills stock opened at $48.10 on Wednesday. General Mills, Inc. has a fifty-two week low of $47.27 and a fifty-two week high of $68.89. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.66 and a quick ratio of 0.40. The firm has a market capitalization of $25.65 billion, a P/E ratio of 9.09, a P/E/G ratio of 1.22 and a beta of -0.03. The company’s 50 day moving average price is $49.48 and its two-hundred day moving average price is $51.79.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, September 17th. The company reported $0.86 earnings per share 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 firm had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.52 billion. During the same quarter last year, the business posted $1.07 earnings per share. The company’s quarterly revenue was down 6.8% on a year-over-year basis. On average, equities analysts forecast that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be given a $0.61 dividend. The ex-dividend date is Friday, October 10th. This represents a $2.44 dividend on an annualized basis and a yield of 5.1%. General Mills’s dividend payout ratio (DPR) is currently 46.12%.

Wall Street Analysts Forecast Growth

GIS has been the topic of several recent research reports. Jefferies Financial Group lowered their target price 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. Wall Street Zen raised shares of General Mills from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. Zacks Research raised shares of General Mills from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 2nd. Mizuho decreased their price objective on shares of General Mills from $57.00 to $52.00 and set a “neutral” rating on the stock in a research note on Friday, September 19th. Finally, Bernstein Bank decreased their price objective on shares of General Mills from $55.00 to $54.00 and set a “market perform” rating on the stock in a research note on Thursday, September 18th. 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’s stock. According to MarketBeat, General Mills presently has an average rating of “Hold” and a consensus target price of $55.82.

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.