Connors Investor Services Inc. Sells 475 Shares of General Mills, Inc. (NYSE:GIS)

Connors Investor Services Inc. decreased its stake in General Mills, Inc. (NYSE:GIS) by 9.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,330 shares of the company’s stock after selling 475 shares during the quarter. Connors Investor Services Inc.’s holdings in General Mills were worth $274,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GIS. Private Trust Co. NA boosted its stake in 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 acquiring an additional 140 shares during the last quarter. North Star Investment Management Corp. grew its holdings in shares of General Mills by 0.8% in the 1st 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 during the period. Deseret Mutual Benefit Administrators grew its holdings in shares of General Mills by 4.9% in the 2nd quarter. Deseret Mutual Benefit Administrators now owns 3,261 shares of the company’s stock valued at $206,000 after buying an additional 151 shares during the period. Park Place Capital Corp increased its position in shares of General Mills by 40.6% in the 1st quarter. Park Place Capital Corp now owns 540 shares of the company’s stock valued at $38,000 after buying an additional 156 shares in the last quarter. Finally, Secure Asset Management LLC raised its stake in General Mills by 5.0% during the 2nd quarter. Secure Asset Management LLC now owns 3,305 shares of the company’s stock worth $209,000 after buying an additional 157 shares during the period. Institutional investors own 75.71% of the company’s stock.

General Mills Stock Performance

Shares of GIS opened at $74.63 on Tuesday. The company has a market cap of $41.65 billion, a PE ratio of 17.32, a price-to-earnings-growth ratio of 3.86 and a beta of 0.10. The firm has a 50-day moving average of $68.97 and a 200-day moving average of $68.28. General Mills, Inc. has a one year low of $60.33 and a one year high of $75.90. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.65 and a quick ratio of 0.38.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, June 26th. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates 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%. General Mills’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the company posted $1.12 earnings per share. As a group, equities analysts forecast that General Mills, Inc. will post 4.5 earnings per share for the current year.

General Mills Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date of this dividend was Wednesday, July 10th. This is a boost from General Mills’s previous quarterly dividend of $0.59. General Mills’s dividend payout ratio is 55.68%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on GIS shares. Mizuho dropped their price target on General Mills from $70.00 to $62.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. The Goldman Sachs Group started coverage on shares of General Mills in a research note on Monday, August 12th. They issued a “buy” rating and a $76.00 price target on the stock. JPMorgan Chase & Co. cut their price target on General Mills from $70.00 to $63.00 and set a “neutral” rating on the stock in a report on Thursday, June 27th. Argus reiterated a “hold” rating on shares of General Mills in a report on Tuesday, July 16th. Finally, Evercore ISI cut their target price on General Mills from $76.00 to $72.00 and set an “in-line” rating on the stock in a research note on Friday, June 28th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, General Mills has an average rating of “Hold” and a consensus target price of $70.60.

General Mills Profile

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.