Confluence Wealth Services Inc. Increases Stock Holdings in General Mills, Inc. (NYSE:GIS)

Confluence Wealth Services Inc. increased its holdings in General Mills, Inc. (NYSE:GISFree Report) by 2.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,195 shares of the company’s stock after acquiring an additional 214 shares during the quarter. Confluence Wealth Services Inc.’s holdings in General Mills were worth $588,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FWL Investment Management LLC purchased a new stake in General Mills in the fourth quarter worth $25,000. Intrepid Capital Management Inc. purchased a new stake in General Mills in the second quarter worth $28,000. Almanack Investment Partners LLC. purchased a new stake in General Mills in the third quarter worth $28,000. Impact Partnership Wealth LLC purchased a new stake in General Mills in the second quarter worth $30,000. Finally, RFP Financial Group LLC lifted its stake in General Mills by 573.8% in the second quarter. RFP Financial Group LLC now owns 411 shares of the company’s stock worth $32,000 after acquiring an additional 350 shares during the period. Hedge funds and other institutional investors own 75.31% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on GIS. StockNews.com began coverage on General Mills in a research note on Thursday, October 5th. They issued a “hold” rating for the company. The Goldman Sachs Group lowered their price objective on General Mills from $70.00 to $61.00 and set a “sell” rating for the company in a research report on Wednesday, September 20th. Mizuho lowered their price objective on General Mills from $70.00 to $65.00 and set a “neutral” rating for the company in a research report on Friday, December 22nd. Stifel Nicolaus lowered their price objective on General Mills from $72.00 to $68.00 and set a “buy” rating for the company in a research report on Thursday, December 21st. Finally, Evercore ISI lowered their price objective on General Mills from $75.00 to $72.00 and set an “in-line” rating for the company in a research report on Monday, December 11th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $73.00.

View Our Latest Analysis on General Mills

General Mills Price Performance

NYSE GIS opened at $63.09 on Thursday. General Mills, Inc. has a one year low of $60.33 and a one year high of $90.89. The stock has a 50-day moving average of $64.87 and a 200 day moving average of $67.33. The company has a market capitalization of $35.83 billion, a price-to-earnings ratio of 15.35, a PEG ratio of 2.20 and a beta of 0.21. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.36 and a current ratio of 0.64.

General Mills (NYSE:GISGet Free Report) last released its quarterly earnings data on Wednesday, December 20th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.16 by $0.09. General Mills had a return on equity of 25.44% and a net margin of 12.06%. The company had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $5.35 billion. During the same period last year, the company earned $1.10 EPS. General Mills’s revenue for the quarter was down 2.3% on a year-over-year basis. On average, sell-side analysts forecast that General Mills, Inc. will post 4.48 EPS for the current year.

General Mills Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 10th will be issued a $0.59 dividend. The ex-dividend date is Tuesday, January 9th. This represents a $2.36 annualized dividend and a yield of 3.74%. General Mills’s payout ratio is 57.42%.

About General Mills

(Free Report)

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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.

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

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