Delta Asset Management LLC TN trimmed its holdings in shares of General Mills, Inc. (NYSE:GIS) by 1.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 276,098 shares of the company’s stock after selling 3,190 shares during the quarter. General Mills comprises 2.0% of Delta Asset Management LLC TN’s portfolio, making the stock its 18th biggest holding. Delta Asset Management LLC TN’s holdings in General Mills were worth $14,501,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the business. Legacy Advisors LLC bought a new stake in General Mills during the first quarter valued at about $31,000. Certified Advisory Corp boosted its holdings in General Mills by 100.9% during the first quarter. Certified Advisory Corp now owns 643 shares of the company’s stock valued at $33,000 after acquiring an additional 323 shares during the period. NuWave Investment Management LLC boosted its holdings in General Mills by 377.4% during the second quarter. NuWave Investment Management LLC now owns 635 shares of the company’s stock valued at $33,000 after acquiring an additional 502 shares during the period. CX Institutional boosted its holdings in General Mills by 74.2% during the second quarter. CX Institutional now owns 655 shares of the company’s stock valued at $34,000 after acquiring an additional 279 shares during the period. Finally, Meridian Wealth Management LLC bought a new stake in General Mills during the first quarter valued at about $35,000. 69.31% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have issued reports on GIS shares. Guggenheim upped their price target on shares of General Mills from $58.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Bank of America restated a “neutral” rating and set a $49.00 price target on shares of General Mills in a report on Friday, May 17th. Goldman Sachs Group cut shares of General Mills from a “neutral” rating to a “sell” rating and set a $41.00 target price for the company. in a research note on Tuesday, May 28th. UBS Group increased their target price on shares of General Mills from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Thursday, June 27th. Finally, Piper Jaffray Companies increased their target price on shares of General Mills from $50.00 to $56.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $52.66.
General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, June 26th. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. The firm had revenue of $4.16 billion during the quarter, compared to analysts’ expectations of $4.24 billion. General Mills had a net margin of 10.39% and a return on equity of 27.67%. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.79 earnings per share. On average, sell-side analysts predict that General Mills, Inc. will post 3.37 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were paid a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date of this dividend was Tuesday, July 9th. General Mills’s dividend payout ratio is 60.87%.
General Mills Company 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.
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