HBW Advisory Services LLC Invests $1.79 Million in General Mills, Inc. (NYSE:GIS)

HBW Advisory Services LLC bought a new position in General Mills, Inc. (NYSE:GIS) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 32,378 shares of the company’s stock, valued at approximately $1,785,000. General Mills comprises about 1.7% of HBW Advisory Services LLC’s investment portfolio, making the stock its 28th biggest holding.

Several other hedge funds have also recently modified their holdings of GIS. BlackRock Inc. grew its position in General Mills by 15.8% in the second quarter. BlackRock Inc. now owns 47,890,359 shares of the company’s stock worth $2,515,202,000 after acquiring an additional 6,544,997 shares in the last quarter. Vanguard Group Inc. grew its position in General Mills by 1.4% in the second quarter. Vanguard Group Inc. now owns 47,174,991 shares of the company’s stock worth $2,477,631,000 after acquiring an additional 643,774 shares in the last quarter. Invesco Ltd. grew its position in General Mills by 0.9% in the second quarter. Invesco Ltd. now owns 18,063,593 shares of the company’s stock worth $948,701,000 after acquiring an additional 159,380 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of General Mills by 44.6% during the second quarter. Renaissance Technologies LLC now owns 5,313,884 shares of the company’s stock valued at $279,085,000 after buying an additional 1,639,900 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of General Mills by 3.4% during the second quarter. Charles Schwab Investment Management Inc. now owns 4,750,965 shares of the company’s stock valued at $249,521,000 after buying an additional 154,410 shares during the period. 68.66% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages have issued reports on GIS. ValuEngine upgraded General Mills from a “strong sell” rating to a “sell” rating in a research report on Tuesday. Piper Jaffray Companies boosted their target price on General Mills from $50.00 to $56.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. UBS Group boosted their target price on General Mills from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Thursday, June 27th. Guggenheim boosted their target price on General Mills from $58.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Finally, Barclays restated a “hold” rating and set a $55.00 target price on shares of General Mills in a research report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $53.64.

In related news, insider Kofi A. Bruce sold 15,582 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $54.33, for a total value of $846,570.06. Following the completion of the sale, the insider now owns 35,487 shares in the company, valued at $1,928,008.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.52% of the stock is currently owned by insiders.

Shares of NYSE GIS traded down $0.60 during trading hours on Friday, reaching $54.01. The stock had a trading volume of 38,525 shares, compared to its average volume of 3,569,577. The company has a current ratio of 0.62, a quick ratio of 0.37 and a debt-to-equity ratio of 1.51. The firm has a market cap of $32.73 billion, a price-to-earnings ratio of 16.78, a P/E/G ratio of 2.30 and a beta of 0.73. The business’s fifty day moving average price is $54.22 and its two-hundred day moving average price is $52.84. General Mills, Inc. has a 52-week low of $36.42 and a 52-week high of $56.40.

General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, September 18th. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.02. The firm had revenue of $4 billion during the quarter, compared to analyst estimates of $4.08 billion. General Mills had a return on equity of 27.38% and a net margin of 11.21%. General Mills’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.71 earnings per share. Equities research analysts anticipate that General Mills, Inc. will post 3.37 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued a $0.49 dividend. The ex-dividend date is Wednesday, October 9th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.63%. General Mills’s payout ratio is 60.87%.

General Mills Profile

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.

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Institutional Ownership by Quarter for General Mills (NYSE:GIS)

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