AlTi Global Inc. Buys 334 Shares of General Mills, Inc. $GIS

AlTi Global Inc. raised its stake in General Mills, Inc. (NYSE:GIS) by 6.6% during the second quarter, Holdings Channel.com reports. The institutional investor owned 5,424 shares of the company’s stock after purchasing an additional 334 shares during the quarter. AlTi Global Inc.’s holdings in General Mills were worth $281,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Garde Capital Inc. increased its holdings in shares of 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 buying an additional 264 shares during the last quarter. Armstrong Advisory Group Inc. bought a new position in shares of General Mills in the 2nd quarter worth $32,000. Smallwood Wealth Investment Management LLC bought a new position in shares of General Mills in the 1st quarter worth $34,000. GKV Capital Management Co. Inc. bought a new position in shares of General Mills in the 1st quarter worth $34,000. Finally, MJT & Associates Financial Advisory Group Inc. bought a new position in shares of General Mills in the 1st quarter worth $37,000. Institutional investors own 75.71% of the company’s stock.

Insiders Place Their Bets

In other General Mills news, insider Jacqueline Williams-Roll sold 4,000 shares of the 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 completion of the sale, the insider owned 66,593 shares of the company’s stock, valued at $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 available at the SEC website. 0.30% of the stock is owned by insiders.

General Mills Trading Down 1.1%

Shares of GIS opened at $47.42 on Friday. The stock has a market capitalization of $25.30 billion, a P/E ratio of 8.96, a PEG ratio of 1.20 and a beta of -0.03. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 1.28. The firm has a fifty day simple moving average of $49.53 and a two-hundred day simple moving average of $51.97. General Mills, Inc. has a twelve month low of $47.27 and a twelve month high of $68.96.

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, beating the consensus estimate of $0.82 by $0.04. The business had revenue of $4.52 billion during the quarter, compared to analysts’ expectations of $4.52 billion. General Mills had a net margin of 15.24% and a return on equity of 23.46%. The firm’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.07 EPS. On average, research analysts anticipate that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be given a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $2.44 annualized dividend and a yield of 5.1%. General Mills’s dividend payout ratio is presently 46.12%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Jefferies Financial Group decreased 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. Deutsche Bank Aktiengesellschaft reduced their target price on shares of General Mills from $52.00 to $50.00 and set a “hold” rating on the stock in a report on Thursday, September 18th. Bernstein Bank reduced their target price on shares of General Mills from $55.00 to $54.00 and set a “market perform” rating on the stock in a report on Thursday, September 18th. HSBC reduced their target price on shares of General Mills from $59.00 to $57.00 and set a “hold” rating on the stock in a report on Thursday, September 18th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of General Mills in a report on Saturday. Four investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, General Mills 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.