Bartlett & Co. LLC lowered its stake in shares of General Mills Inc. (NYSE:GIS) by 24.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 5,966 shares of the company’s stock after selling 1,960 shares during the period. Bartlett & Co. LLC’s holdings in General Mills were worth $425,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. American Century Companies Inc. boosted its stake in shares of General Mills by 34.5% in the second quarter. American Century Companies Inc. now owns 6,546,046 shares of the company’s stock valued at $466,864,000 after buying an additional 1,679,776 shares in the last quarter. Patriot Wealth Management Inc. boosted its stake in shares of General Mills by 2.7% in the second quarter. Patriot Wealth Management Inc. now owns 112,877 shares of the company’s stock valued at $8,050,000 after buying an additional 3,008 shares in the last quarter. Aviance Capital Management LLC boosted its stake in shares of General Mills by 36.6% in the second quarter. Aviance Capital Management LLC now owns 197,419 shares of the company’s stock valued at $14,080,000 after buying an additional 52,915 shares in the last quarter. Prospera Financial Services Inc boosted its stake in shares of General Mills by 4.6% in the second quarter. Prospera Financial Services Inc now owns 5,346 shares of the company’s stock valued at $381,000 after buying an additional 235 shares in the last quarter. Finally, WESPAC Advisors LLC acquired a new stake in shares of General Mills during the second quarter valued at about $211,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.
General Mills Inc. (NYSE:GIS) traded down 0.66% during midday trading on Thursday, reaching $63.66. 3,006,627 shares of the company were exchanged. General Mills Inc. has a 52 week low of $53.53 and a 52 week high of $72.95. The company has a market capitalization of $37.65 billion, a PE ratio of 23.15 and a beta of 0.38. The firm has a 50-day moving average price of $68.19 and a 200-day moving average price of $66.19.
General Mills (NYSE:GIS) last issued its earnings results on Wednesday, September 21st. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.03. General Mills had a net margin of 10.33% and a return on equity of 33.82%. The company had revenue of $3.91 billion for the quarter. During the same period last year, the firm earned $0.79 earnings per share. General Mills’s revenue for the quarter was down 7.3% on a year-over-year basis. Equities research analysts anticipate that General Mills Inc. will post $3.11 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Monday, October 10th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date is Wednesday, October 5th. General Mills’s dividend payout ratio is presently 69.82%.
Several analysts have recently issued reports on the stock. S&P Equity Research restated a “buy” rating and set a $70.00 target price on shares of General Mills in a research report on Tuesday. RBC Capital Markets reiterated an “outperform” rating and set a $73.00 price target on shares of General Mills in a report on Friday, September 23rd. Barclays PLC reiterated an “equal weight” rating and set a $66.00 price target on shares of General Mills in a report on Friday, September 23rd. Credit Agricole SA set a $65.00 price target on shares of General Mills and gave the company a “sell” rating in a report on Thursday, September 22nd. Finally, Zacks Investment Research upgraded shares of General Mills from a “sell” rating to a “hold” rating in a report on Friday, September 23rd. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $68.22.
In other General Mills news, Director Dorothy A. Terrell sold 13,556 shares of General Mills stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $71.70, for a total transaction of $971,965.20. Following the completion of the sale, the director now directly owns 72,542 shares in the company, valued at $5,201,261.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John R. Church sold 99,373 shares of General Mills stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $71.17, for a total transaction of $7,072,376.41. Following the sale, the insider now owns 108,311 shares of the company’s stock, valued at $7,708,493.87. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.
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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