Rhumbline Advisers Has $78.76 Million Holdings in General Mills, Inc. (NYSE:GIS)

Rhumbline Advisers lifted its holdings in General Mills, Inc. (NYSE:GIS) by 0.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,245,014 shares of the company’s stock after purchasing an additional 6,295 shares during the quarter. Rhumbline Advisers owned 0.22% of General Mills worth $78,759,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Private Trust Co. NA increased its position in shares of General Mills by 1.4% during the 1st quarter. Private Trust Co. NA now owns 10,280 shares of the company’s stock worth $719,000 after purchasing an additional 140 shares during the last quarter. North Star Investment Management Corp. grew its stake in shares of General Mills by 0.8% in the first quarter. North Star Investment Management Corp. now owns 17,228 shares of the company’s stock valued at $1,205,000 after buying an additional 145 shares in the last quarter. Park Place Capital Corp increased its holdings in General Mills by 40.6% during the first quarter. Park Place Capital Corp now owns 540 shares of the company’s stock worth $38,000 after buying an additional 156 shares during the last quarter. Secure Asset Management LLC raised its position in General Mills by 5.0% during the second quarter. Secure Asset Management LLC now owns 3,305 shares of the company’s stock worth $209,000 after acquiring an additional 157 shares in the last quarter. Finally, LCM Capital Management Inc lifted its stake in General Mills by 1.9% in the second quarter. LCM Capital Management Inc now owns 8,521 shares of the company’s stock valued at $539,000 after acquiring an additional 157 shares during the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on GIS shares. Citigroup lowered their price objective on shares of General Mills from $71.00 to $68.00 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. Stifel Nicolaus lowered their price target on General Mills from $77.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, June 27th. Evercore ISI cut their price objective on General Mills from $76.00 to $72.00 and set an “in-line” rating for the company in a research report on Friday, June 28th. Mizuho reduced their target price on General Mills from $70.00 to $62.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. Finally, JPMorgan Chase & Co. dropped their price target on General Mills from $70.00 to $63.00 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $69.71.

General Mills Stock Performance

NYSE GIS opened at $73.58 on Thursday. The firm has a 50-day moving average price of $67.19 and a two-hundred day moving average price of $67.73. General Mills, Inc. has a 12-month low of $60.33 and a 12-month high of $74.45. The company has a market capitalization of $41.07 billion, a P/E ratio of 17.07, a P/E/G ratio of 4.09 and a beta of 0.09. The company has a quick ratio of 0.38, a current ratio of 0.65 and a debt-to-equity ratio of 1.17.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, June 26th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.02. The business had revenue of $4.71 billion during the quarter, compared to analysts’ expectations of $4.85 billion. General Mills had a return on equity of 26.56% and a net margin of 12.57%. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.12 earnings per share. Analysts anticipate that General Mills, Inc. will post 4.49 earnings per share for the current year.

General Mills Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were issued a dividend of $0.60 per share. This is a positive change from General Mills’s previous quarterly dividend of $0.59. This represents a $2.40 annualized dividend and a dividend yield of 3.26%. The ex-dividend date was Wednesday, July 10th. General Mills’s dividend payout ratio is 55.68%.

About General Mills

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.