Welch Group LLC Acquires 14,130 Shares of General Mills, Inc. $GIS

Welch Group LLC raised its position in General Mills, Inc. (NYSE:GIS) by 1.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 777,702 shares of the company’s stock after purchasing an additional 14,130 shares during the period. Welch Group LLC’s holdings in General Mills were worth $40,293,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of GIS. GAMMA Investing LLC boosted its holdings in General Mills by 12.2% in the 1st quarter. GAMMA Investing LLC now owns 19,597 shares of the company’s stock valued at $1,172,000 after purchasing an additional 2,127 shares during the period. Integrated Advisors Network LLC bought a new position in General Mills in the 1st quarter valued at $206,000. CX Institutional bought a new position in General Mills in the 1st quarter valued at $216,000. Krilogy Financial LLC boosted its holdings in General Mills by 4.3% in the 1st quarter. Krilogy Financial LLC now owns 14,489 shares of the company’s stock valued at $866,000 after purchasing an additional 593 shares during the period. Finally, Dover Advisors LLC bought a new position in General Mills in the 1st quarter valued at $249,000. 75.71% of the stock is owned by institutional investors.

Insider Activity

In other General Mills news, insider Jacqueline Williams-Roll sold 4,000 shares of the business’s stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $50.04, for a total value of $200,160.00. Following the transaction, the insider owned 66,593 shares in the company, valued at approximately $3,332,313.72. The trade was a 5.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

GIS has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of General Mills from $52.00 to $50.00 and set a “hold” rating for the company in a report on Thursday, September 18th. HSBC dropped their price objective on shares of General Mills from $59.00 to $57.00 and set a “hold” rating for the company in a report on Thursday, September 18th. Jefferies Financial Group dropped their price objective on shares of General Mills from $51.00 to $50.00 and set a “hold” rating for the company in a report on Monday, September 8th. Barclays dropped their price objective on shares of General Mills from $54.00 to $52.00 and set an “equal weight” rating for the company in a report on Friday, September 19th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $45.00 price objective (down from $53.00) on shares of General Mills in a report on Wednesday, August 20th. Four equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $55.82.

General Mills Price Performance

Shares of NYSE:GIS opened at $49.37 on Monday. The stock has a market cap of $26.33 billion, a PE ratio of 9.33, a PEG ratio of 1.24 and a beta of -0.03. The company’s fifty day moving average is $49.78 and its 200 day moving average is $52.66. General Mills, Inc. has a 52 week low of $48.29 and a 52 week high of $72.55. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 1.28.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, September 17th. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. The company had revenue of $4.52 billion for 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 was down 6.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.07 EPS. Research analysts anticipate that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Announces Dividend

The company also recently disclosed 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 dividend yield of 4.9%. General Mills’s payout ratio is presently 46.12%.

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.