General Mills, Inc. (GIS) Holdings Trimmed by Concentric Wealth Management LLC

Concentric Wealth Management LLC decreased its position in General Mills, Inc. (NYSE:GIS) by 6.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,900 shares of the company’s stock after selling 275 shares during the period. Concentric Wealth Management LLC’s holdings in General Mills were worth $216,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Lenox Wealth Advisors Inc. increased its holdings in General Mills by 0.8% in the second quarter. Lenox Wealth Advisors Inc. now owns 1,833 shares of the company’s stock valued at $102,000 after buying an additional 15 shares in the last quarter. LLBH Private Wealth Management LLC increased its holdings in General Mills by 0.6% in the second quarter. LLBH Private Wealth Management LLC now owns 4,343 shares of the company’s stock valued at $241,000 after buying an additional 25 shares in the last quarter. Davis R M Inc. increased its holdings in General Mills by 0.8% in the second quarter. Davis R M Inc. now owns 4,197 shares of the company’s stock valued at $233,000 after buying an additional 34 shares in the last quarter. Hanson McClain Inc. increased its holdings in General Mills by 1.5% in the first quarter. Hanson McClain Inc. now owns 2,346 shares of the company’s stock valued at $138,000 after buying an additional 35 shares in the last quarter. Finally, Smith Salley & Associates increased its holdings in General Mills by 0.8% in the first quarter. Smith Salley & Associates now owns 5,540 shares of the company’s stock valued at $327,000 after buying an additional 42 shares in the last quarter. 70.45% of the stock is owned by institutional investors.

General Mills, Inc. (GIS) opened at 51.40 on Friday. The firm has a market capitalization of $29.21 billion, a price-to-earnings ratio of 18.42 and a beta of 0.61. The company’s 50-day moving average is $54.04 and its 200-day moving average is $56.00. General Mills, Inc. has a 52-week low of $50.40 and a 52-week high of $64.06.

General Mills (NYSE:GIS) last posted its earnings results on Wednesday, September 20th. The company reported $0.71 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.05). General Mills had a net margin of 10.68% and a return on equity of 39.82%. The business had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.79 billion. During the same quarter last year, the business posted $0.78 earnings per share. The business’s revenue was down 3.6% compared to the same quarter last year. Equities analysts predict that General Mills, Inc. will post $3.08 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th will be issued a dividend of $0.49 per share. The ex-dividend date of this dividend is Friday, October 6th. This represents a $1.96 annualized dividend and a yield of 3.81%. General Mills’s dividend payout ratio (DPR) is currently 70.25%.

A number of research analysts have weighed in on GIS shares. BMO Capital Markets reaffirmed a “hold” rating and issued a $67.00 price objective on shares of General Mills in a report on Thursday, June 15th. BidaskClub raised shares of General Mills from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. Piper Jaffray Companies reaffirmed an “underweight” rating and issued a $56.00 price objective (down previously from $57.00) on shares of General Mills in a report on Monday, June 19th. UBS AG reaffirmed a “neutral” rating and issued a $61.00 price objective (down previously from $63.00) on shares of General Mills in a report on Wednesday, June 21st. Finally, Bank of America Corporation reaffirmed a “neutral” rating and issued a $61.00 price objective (down previously from $63.00) on shares of General Mills in a report on Sunday, June 25th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the company’s stock. General Mills has a consensus rating of “Hold” and a consensus target price of $56.75.

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General Mills Company Profile

General Mills, Inc is a manufacturer and marketer of branded consumer foods sold through retail stores. The Company is a supplier of branded and unbranded food products to the North American foodservice and commercial baking industries. The Company has three segments: U.S. Retail, International, and Convenience Stores and Foodservice.

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Institutional Ownership by Quarter for General Mills (NYSE:GIS)

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