Kestra Advisory Services LLC Acquires 18,995 Shares of General Mills, Inc. $GIS

Kestra Advisory Services LLC raised its holdings in General Mills, Inc. (NYSE:GIS) by 9.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 216,199 shares of the company’s stock after buying an additional 18,995 shares during the period. Kestra Advisory Services LLC’s holdings in General Mills were worth $6,953,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of GIS. Brown Shipley& Co Ltd purchased a new stake in shares of General Mills during the first quarter worth $26,000. Main Street Group LTD purchased a new position in General Mills in the first quarter valued at $27,000. Silvant Capital Management LLC purchased a new position in General Mills in the second quarter valued at $26,000. Elevation Wealth Partners LLC purchased a new position in General Mills in the second quarter valued at $27,000. Finally, CoreCap Advisors LLC grew its stake in General Mills by 92.9% during the 2nd quarter. CoreCap Advisors LLC now owns 787 shares of the company’s stock worth $27,000 after purchasing an additional 379 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on GIS shares. Barclays upped their price target on General Mills from $36.00 to $37.00 and gave the stock an “equal weight” rating in a report on Friday, September 25th. Zacks Research raised General Mills from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 12th. Weiss Ratings upgraded General Mills from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, October 29th. Evercore set a $38.00 price objective on General Mills in a research report on Monday, September 14th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $45.00 price objective on shares of General Mills in a research report on Monday, September 21st. Four analysts have rated the stock with a Buy rating, ten have issued a Hold rating and six have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $36.59.

General Mills Price Performance

General Mills stock opened at $34.16 on Thursday. The company has a current ratio of 0.70, a quick ratio of 0.39 and a debt-to-equity ratio of 1.66. The company has a fifty day simple moving average of $34.51 and a 200-day simple moving average of $37.23. The stock has a market cap of $18.26 billion and a P/E ratio of -20.58. General Mills, Inc. has a 12-month low of $31.17 and a 12-month high of $49.59.

General Mills (NYSE:GIS) last posted its earnings results on Wednesday, September 23rd. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.72 by $0.03. The firm had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.35 billion. General Mills had a positive return on equity of 21.86% and a negative net margin of 4.89%. General Mills’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.86 earnings per share. Equities analysts expect that General Mills, Inc. will post 3.08 EPS for the current fiscal year.

General Mills Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 2nd. Stockholders of record on Tuesday, October 13th were given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 7.1%. The ex-dividend date of this dividend was Tuesday, October 13th. General Mills’s dividend payout ratio is currently -146.99%.

General Mills News Roundup

These are some of the GIS news items that stood out recently:

• Positive Sentiment: The new operating model is presented as a way to improve efficiency and support profitable growth over time. That offers a possible strategic upside, but it is a longer-term plan rather than an immediate earnings improvement. Can General Mills’ New Operating Model Drive Profitable Growth?
• Neutral Sentiment: Commentary has described GIS as a potential bargain after a substantial decline in its shares. This could attract value-oriented buyers, but the valuation argument alone does not resolve concerns about the company’s growth outlook. General Mills (GIS) Stock Could Be A Bargain After A 38% Fall
• Neutral Sentiment: The restructuring news is the clearest recent company-specific development in these reports. The articles do not describe an immediate financial impact, so investors may wait for evidence that the new structure improves results. General Mills to reorganize operating model into three segments

General Mills Profile

General Mills, Inc. is a food company that develops, manufactures and markets branded consumer foods. Its products include breakfast cereals, snack bars, baking mixes and refrigerated dough, along with meals and pet food. Its brands include Cheerios, Nature Valley, Betty Crocker, Pillsbury and Blue Buffalo. The company traces its history to the Minneapolis Milling Company, established in 1866. The General Mills name was adopted in 1928 by the Washburn Crosby Company, a predecessor of today’s business.