MMA Asset Management LLC Boosts Stock Holdings in General Mills, Inc. $GIS

MMA Asset Management LLC raised its position in shares of General Mills, Inc. (NYSE:GIS) by 17.7% in the 2nd quarter, Holdings Channel.com reports. The firm owned 7,803 shares of the company’s stock after acquiring an additional 1,171 shares during the quarter. MMA Asset Management LLC’s holdings in General Mills were worth $404,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Garde Capital Inc. lifted its position in shares of General Mills by 101.5% during the 2nd quarter. Garde Capital Inc. now owns 524 shares of the company’s stock valued at $27,000 after buying an additional 264 shares during the last quarter. GKV Capital Management Co. Inc. bought a new stake in General Mills in the 1st quarter valued at about $34,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in General Mills during the first quarter valued at about $37,000. Pingora Partners LLC lifted its holdings in General Mills by 416.7% during the first quarter. Pingora Partners LLC now owns 620 shares of the company’s stock valued at $37,000 after purchasing an additional 500 shares during the last quarter. Finally, Armstrong Advisory Group Inc. bought a new position in General Mills during the second quarter worth about $32,000. 75.71% of the stock is owned by hedge funds and other institutional investors.

General Mills Stock Performance

NYSE GIS opened at $46.65 on Monday. General Mills, Inc. has a 1 year low of $46.21 and a 1 year 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 stock has a market capitalization of $24.88 billion, a PE ratio of 8.82, a P/E/G ratio of 1.17 and a beta of -0.03. The company’s 50 day simple moving average is $49.29 and its two-hundred day simple moving average is $51.52.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, September 17th. The company reported $0.86 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 firm had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.52 billion. During the same period in the previous year, the business earned $1.07 EPS. The business’s revenue for the quarter was down 6.8% on a year-over-year basis. Analysts predict that General Mills, Inc. will post 4.36 earnings per share for the current fiscal 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 paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date is Friday, October 10th. General Mills’s dividend payout ratio is currently 46.12%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $45.00 price target (down previously from $53.00) on shares of General Mills in a research report on Wednesday, August 20th. Zacks Research upgraded shares of General Mills from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 2nd. Barclays lowered their target price on shares of General Mills from $54.00 to $52.00 and set an “equal weight” rating on the stock in a report on Friday, September 19th. Deutsche Bank Aktiengesellschaft cut their price target on General Mills from $52.00 to $50.00 and set a “hold” rating for the company in a report on Thursday, September 18th. Finally, Morgan Stanley reduced their price target on General Mills from $49.00 to $48.00 and set an “underweight” rating for the company in a research report on Monday, September 15th. Four research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $55.82.

Insider Buying and Selling at General Mills

In other General Mills news, insider Jacqueline Williams-Roll sold 4,000 shares of the firm’s stock in a transaction dated 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 owned 66,593 shares of the company’s stock, 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 SEC, which is available at this link. 0.30% of the stock is currently owned by insiders.

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.