Manchester Financial Inc. Invests $81,000 in General Mills, Inc. (NYSE:GIS)

Manchester Financial Inc. bought a new position in General Mills, Inc. (NYSE:GIS) during the second quarter, Holdings Channel reports. The firm bought 1,550 shares of the company’s stock, valued at approximately $81,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Legacy Advisors LLC acquired a new position in shares of General Mills during the first quarter valued at approximately $31,000. Certified Advisory Corp raised its holdings in shares of General Mills by 100.9% during the first quarter. Certified Advisory Corp now owns 643 shares of the company’s stock valued at $33,000 after acquiring an additional 323 shares during the last quarter. NuWave Investment Management LLC raised its holdings in shares of General Mills by 377.4% during the second quarter. NuWave Investment Management LLC now owns 635 shares of the company’s stock valued at $33,000 after acquiring an additional 502 shares during the last quarter. CX Institutional raised its holdings in shares of General Mills by 74.2% during the second quarter. CX Institutional now owns 655 shares of the company’s stock valued at $34,000 after acquiring an additional 279 shares during the last quarter. Finally, Meridian Wealth Management LLC acquired a new position in shares of General Mills during the first quarter valued at approximately $35,000. Hedge funds and other institutional investors own 69.41% of the company’s stock.

NYSE:GIS opened at $54.01 on Friday. General Mills, Inc. has a one year low of $36.42 and a one year high of $54.74. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.37 and a current ratio of 0.59. The firm has a market capitalization of $32.31 billion, a PE ratio of 16.77, a PEG ratio of 2.28 and a beta of 0.77. The firm has a 50 day moving average of $53.35.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, June 26th. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.76 by $0.07. General Mills had a return on equity of 27.67% and a net margin of 10.39%. The firm had revenue of $4.16 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter last year, the firm earned $0.79 earnings per share. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. As a group, sell-side analysts forecast that General Mills, Inc. will post 3.37 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were issued a $0.49 dividend. The ex-dividend date was Tuesday, July 9th. This represents a $1.96 annualized dividend and a dividend yield of 3.63%. General Mills’s dividend payout ratio is presently 60.87%.

GIS has been the subject of a number of research analyst reports. Morgan Stanley increased their target price on General Mills from $49.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, June 27th. Piper Jaffray Companies increased their target price on General Mills from $50.00 to $56.00 and gave the company a “neutral” rating in a report on Wednesday, July 10th. Edward Jones raised General Mills from a “hold” rating to a “buy” rating in a report on Monday, July 15th. Zacks Investment Research reissued a “strong-buy” rating on shares of General Mills in a report on Thursday, May 30th. Finally, Goldman Sachs Group cut General Mills from a “neutral” rating to a “sell” rating and set a $41.00 target price for the company. in a report on Tuesday, May 28th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $52.66.

About General Mills

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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