Bragg Financial Advisors Inc Has $1.87 Million Stock Position in General Mills, Inc. (NYSE:GIS)

Bragg Financial Advisors Inc boosted its stake in shares of General Mills, Inc. (NYSE:GIS) by 1.0% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 36,123 shares of the company’s stock after purchasing an additional 345 shares during the period. Bragg Financial Advisors Inc’s holdings in General Mills were worth $1,869,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in GIS. Norges Bank purchased a new position in General Mills in the 4th quarter worth approximately $208,406,000. Oregon Public Employees Retirement Fund increased its holdings in shares of General Mills by 3,788.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,531,100 shares of the company’s stock worth $65,000 after buying an additional 2,466,013 shares during the last quarter. BlackRock Inc. increased its holdings in shares of General Mills by 2.6% during the 4th quarter. BlackRock Inc. now owns 40,910,241 shares of the company’s stock worth $1,593,046,000 after buying an additional 1,049,722 shares during the last quarter. Wedge Capital Management L L P NC acquired a new stake in shares of General Mills during the 4th quarter worth approximately $33,087,000. Finally, DekaBank Deutsche Girozentrale increased its holdings in shares of General Mills by 469.2% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 953,445 shares of the company’s stock worth $43,653,000 after buying an additional 785,927 shares during the last quarter. 69.77% of the stock is currently owned by institutional investors.

GIS traded up $0.30 on Friday, reaching $52.52. The company had a trading volume of 5,817,523 shares, compared to its average volume of 4,550,218. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.59 and a quick ratio of 0.35. The company has a market cap of $31.17 billion, a PE ratio of 16.31, a PEG ratio of 2.18 and a beta of 0.75. General Mills, Inc. has a 1 year low of $36.42 and a 1 year high of $54.39. The stock’s 50-day simple moving average is $52.11.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, June 26th. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. The company had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.24 billion. General Mills had a net margin of 10.39% and a return on equity of 27.67%. General Mills’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.79 earnings per share. On average, equities analysts expect that General Mills, Inc. will post 3.36 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be paid a $0.49 dividend. The ex-dividend date is Tuesday, July 9th. This represents a $1.96 dividend on an annualized basis and a yield of 3.73%. General Mills’s dividend payout ratio is presently 60.87%.

In related news, Director R Kerry Clark sold 14,836 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $51.57, for a total transaction of $765,092.52. Following the completion of the sale, the director now directly owns 62,211 shares of the company’s stock, valued at approximately $3,208,221.27. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John R. Church sold 4,719 shares of the stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $50.78, for a total transaction of $239,630.82. Following the transaction, the insider now owns 34,112 shares in the company, valued at $1,732,207.36. The disclosure for this sale can be found here. Insiders own 0.59% of the company’s stock.

A number of brokerages have recently issued reports on GIS. Jefferies Financial Group restated a “buy” rating and set a $55.00 price target on shares of General Mills in a report on Wednesday, March 20th. Wells Fargo & Co lifted their target price 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. Morgan Stanley lifted their target price on shares of General Mills from $41.00 to $49.00 and gave the company an “equal weight” rating in a report on Thursday, March 21st. UBS Group lifted their target price on shares of General Mills from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Citigroup reiterated a “top pick” rating and issued a $60.00 target price (up previously from $54.00) on shares of General Mills in a report on Thursday, March 21st. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $51.10.

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.

Further Reading: Green Investing

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

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