PFG Investments LLC Decreases Stock Position in General Mills, Inc. $GIS

PFG Investments LLC trimmed its holdings in General Mills, Inc. (NYSE:GIS) by 7.9% during the second quarter, Holdings Channel.com reports. The fund owned 17,567 shares of the company’s stock after selling 1,511 shares during the period. PFG Investments LLC’s holdings in General Mills were worth $910,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Kera Capital Partners Inc. purchased a new stake in General Mills in the 2nd quarter valued at approximately $222,000. Victory Capital Management Inc. increased its position in General Mills by 7.3% during the first quarter. Victory Capital Management Inc. now owns 522,576 shares of the company’s stock worth $31,245,000 after buying an additional 35,494 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of General Mills by 7.8% in the first quarter. Commonwealth Equity Services LLC now owns 452,844 shares of the company’s stock worth $27,076,000 after acquiring an additional 32,628 shares during the last quarter. Rock Point Advisors LLC purchased a new stake in shares of General Mills in the first quarter valued at $3,610,000. Finally, OVERSEA CHINESE BANKING Corp Ltd boosted its stake in shares of General Mills by 126.1% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 774,134 shares of the company’s stock valued at $46,285,000 after acquiring an additional 431,693 shares during the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Price Performance

GIS stock opened at $50.32 on Friday. The company has a market cap of $26.84 billion, a PE ratio of 9.51, a price-to-earnings-growth ratio of 1.28 and a beta of -0.03. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28. The stock has a 50-day moving average price of $49.75 and a two-hundred day moving average price of $53.12. General Mills, Inc. has a 12-month low of $48.29 and a 12-month high of $73.78.

General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, September 17th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.04. General Mills had a return on equity of 23.46% and a net margin of 15.24%.The business had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.52 billion. During the same period in the previous year, the company posted $1.07 EPS. The company’s revenue was down 6.8% compared to the same quarter last year. As a group, research analysts predict that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be given a $0.61 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $2.44 annualized dividend and a dividend yield of 4.8%. General Mills’s dividend payout ratio is presently 46.12%.

Insider Activity at General Mills

In related news, insider Jacqueline Williams-Roll sold 4,000 shares of General Mills stock in a transaction on Friday, September 19th. The shares were sold at an average price of $50.04, for a total transaction of $200,160.00. Following the transaction, the insider owned 66,593 shares in the company, valued at approximately $3,332,313.72. The trade was a 5.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

GIS has been the subject of several analyst reports. Morgan Stanley cut their target price on shares of General Mills from $49.00 to $48.00 and set an “underweight” rating for the company in a research note on Monday, September 15th. Wells Fargo & Company set a $53.00 price objective on shares of General Mills and gave the company an “equal weight” rating in a research report on Thursday, June 26th. Barclays reduced their price objective on shares of General Mills from $54.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Friday, September 19th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of General Mills from $52.00 to $50.00 and set a “hold” rating for the company in a research note on Thursday, September 18th. Finally, Royal Bank Of Canada raised General Mills from a “sector perform” rating to an “outperform” rating and lowered their price objective for the company from $67.00 to $63.00 in a research report on Thursday, June 26th. Four investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $55.82.

General Mills Company 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.