Headinvest LLC lowered its position in shares of General Mills Inc. (NYSE:GIS) by 10.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,968 shares of the company’s stock after selling 600 shares during the period. Headinvest LLC’s holdings in General Mills were worth $354,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Lenox Wealth Advisors Inc. raised its stake in shares of General Mills by 0.7% in the second quarter. Lenox Wealth Advisors Inc. now owns 1,778 shares of the company’s stock worth $127,000 after buying an additional 13 shares during the period. Piershale Financial Group Inc. raised its stake in shares of General Mills by 0.8% in the first quarter. Piershale Financial Group Inc. now owns 4,263 shares of the company’s stock worth $270,000 after buying an additional 33 shares during the period. Adirondack Trust Co. raised its stake in shares of General Mills by 2.2% in the second quarter. Adirondack Trust Co. now owns 3,755 shares of the company’s stock worth $268,000 after buying an additional 80 shares during the period. Patten & Patten Inc. TN raised its stake in shares of General Mills by 0.7% in the second quarter. Patten & Patten Inc. TN now owns 11,110 shares of the company’s stock worth $792,000 after buying an additional 82 shares during the period. Finally, Cleararc Capital Inc. raised its stake in shares of General Mills by 0.3% in the first quarter. Cleararc Capital Inc. now owns 31,250 shares of the company’s stock worth $1,980,000 after buying an additional 102 shares during the period. 69.13% of the stock is currently owned by hedge funds and other institutional investors.
General Mills Inc. (NYSE:GIS) traded up 0.03% during mid-day trading on Tuesday, reaching $63.92. 2,693,107 shares of the company’s stock were exchanged. General Mills Inc. has a 1-year low of $53.53 and a 1-year high of $72.95. The firm’s 50-day moving average is $68.60 and its 200 day moving average is $66.22. The stock has a market capitalization of $37.80 billion, a PE ratio of 23.24 and a beta of 0.38.
General Mills (NYSE:GIS) last issued its earnings results on Wednesday, September 21st. The company reported $0.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.03. The business had revenue of $3.91 billion for the quarter. General Mills had a net margin of 10.25% and a return on equity of 33.96%. The firm’s revenue was down 7.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.79 EPS. Analysts forecast that General Mills Inc. will post $3.10 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Monday, October 10th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 3.00%. General Mills’s payout ratio is 69.82%.
Several equities research analysts have commented on the stock. Morgan Stanley reaffirmed a “hold” rating on shares of General Mills in a report on Sunday, July 17th. S&P Equity Research reaffirmed a “buy” rating and issued a $70.00 price target on shares of General Mills in a report on Tuesday. Zacks Investment Research raised shares of General Mills from a “sell” rating to a “hold” rating in a report on Friday. Goldman Sachs Group Inc. reaffirmed a “sell” rating and issued a $60.00 price target (up from $58.00) on shares of General Mills in a report on Thursday, June 30th. Finally, RBC Capital Markets reaffirmed an “outperform” rating and issued a $73.00 price target on shares of General Mills in a report on Friday. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $68.22.
In other news, Director Paul Danos sold 20,000 shares of General Mills stock in a transaction dated Thursday, June 30th. The shares were sold at an average price of $71.53, for a total value of $1,430,600.00. Following the sale, the director now owns 43,799 shares of the company’s stock, valued at $3,132,942.47. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael D. Rose sold 10,000 shares of General Mills stock in a transaction dated Wednesday, July 6th. The shares were sold at an average price of $72.32, for a total transaction of $723,200.00. Following the completion of the sale, the director now directly owns 71,240 shares in the company, valued at approximately $5,152,076.80. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.
About General Mills
General Mills, Inc is a manufacturer and marketer of branded consumer foods sold through retail stores. The Company is also a supplier of branded and unbranded food products to the North American foodservice and commercial baking industries. The Company is organized into three operating segments: U.S.
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