Signature Wealth Management Group Grows Position in General Mills, Inc. (GIS)

Signature Wealth Management Group raised its position in General Mills, Inc. (NYSE:GIS) by 1.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,518 shares of the company’s stock after acquiring an additional 678 shares during the quarter. General Mills makes up approximately 2.2% of Signature Wealth Management Group’s portfolio, making the stock its 16th biggest position. Signature Wealth Management Group’s holdings in General Mills were worth $3,184,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. GSA Capital Partners LLP purchased a new position in shares of General Mills in the third quarter worth approximately $383,000. Mackenzie Financial Corp boosted its holdings in shares of General Mills by 17.1% in the third quarter. Mackenzie Financial Corp now owns 10,926 shares of the company’s stock worth $469,000 after buying an additional 1,597 shares during the last quarter. Great Lakes Advisors LLC purchased a new position in shares of General Mills in the third quarter worth approximately $208,000. Glenmede Trust Co. NA boosted its holdings in shares of General Mills by 22.5% in the third quarter. Glenmede Trust Co. NA now owns 982,018 shares of the company’s stock worth $42,147,000 after buying an additional 180,093 shares during the last quarter. Finally, Resources Management Corp CT ADV purchased a new position in shares of General Mills in the third quarter worth approximately $545,000. 69.16% of the stock is owned by institutional investors.

Shares of GIS stock traded up $0.13 during mid-day trading on Friday, hitting $51.54. The company had a trading volume of 2,921,662 shares, compared to its average volume of 2,958,006. General Mills, Inc. has a 52-week low of $36.42 and a 52-week high of $52.17. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.35 and a current ratio of 0.55. The company has a market capitalization of $30.78 billion, a PE ratio of 16.57, a price-to-earnings-growth ratio of 2.18 and a beta of 0.77.

General Mills (NYSE:GIS) last released its earnings results on Wednesday, March 20th. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.69 by $0.14. General Mills had a net margin of 9.26% and a return on equity of 28.11%. The firm had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter in the previous year, the firm earned $0.79 earnings per share. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, research analysts predict that General Mills, Inc. will post 3.14 EPS for the current fiscal year.

In related news, CFO Donal L. Mulligan sold 120,722 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $47.50, for a total value of $5,734,295.00. Following the sale, the chief financial officer now owns 252,326 shares in the company, valued at $11,985,485. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Donal L. Mulligan sold 126,337 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $50.00, for a total transaction of $6,316,850.00. Following the completion of the sale, the chief financial officer now owns 378,663 shares in the company, valued at approximately $18,933,150. The disclosure for this sale can be found here. Insiders sold 444,222 shares of company stock worth $21,764,784 in the last 90 days. 0.59% of the stock is currently owned by company insiders.

Several brokerages have weighed in on GIS. Credit Suisse Group lifted their price target on shares of General Mills from $43.00 to $52.00 and gave the company a “neutral” rating in a report on Thursday, March 21st. Citigroup reaffirmed a “top pick” rating and set a $60.00 price target (up previously from $54.00) on shares of General Mills in a report on Thursday, March 21st. Guggenheim reaffirmed a “buy” rating on shares of General Mills in a report on Tuesday, February 26th. ValuEngine raised shares of General Mills from a “sell” rating to a “hold” rating in a report on Friday, March 15th. Finally, Wells Fargo & Co lifted their price target on shares of General Mills from $53.00 to $56.00 and gave the company a “positive” rating in a report on Friday, March 22nd. One analyst has rated the stock with a sell rating, twelve have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $49.91.

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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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