OFI Invest Asset Management Sells 5,609 Shares of General Mills, Inc. $GIS

OFI Invest Asset Management lowered its holdings in General Mills, Inc. (NYSE:GIS) by 3.7% in the second quarter, HoldingsChannel.com reports. The firm owned 145,411 shares of the company’s stock after selling 5,609 shares during the quarter. OFI Invest Asset Management’s holdings in General Mills were worth $7,534,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Personalized Indexing Management LLC boosted its holdings in General Mills by 15.5% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 98,012 shares of the company’s stock valued at $5,078,000 after purchasing an additional 13,177 shares during the period. Concurrent Investment Advisors LLC boosted its holdings in General Mills by 1.3% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 17,001 shares of the company’s stock valued at $881,000 after purchasing an additional 226 shares during the period. Lindenwold Advisors INC boosted its holdings in General Mills by 2.3% in the 2nd quarter. Lindenwold Advisors INC now owns 33,412 shares of the company’s stock valued at $1,731,000 after purchasing an additional 747 shares during the period. Drucker Wealth 3.0 LLC bought a new stake in General Mills in the 2nd quarter valued at about $765,000. Finally, Aberdeen Group plc boosted its holdings in General Mills by 16.2% in the 2nd quarter. Aberdeen Group plc now owns 665,608 shares of the company’s stock valued at $34,196,000 after purchasing an additional 92,905 shares during the period. Institutional investors own 75.71% of the company’s stock.

General Mills Price Performance

GIS stock opened at $49.37 on Friday. The company has a 50 day simple moving average of $49.78 and a 200 day simple moving average of $52.71. The stock has a market cap of $26.33 billion, a price-to-earnings ratio of 9.33, a P/E/G ratio of 1.24 and a beta of -0.03. General Mills, Inc. has a 1 year low of $48.29 and a 1 year high of $72.55. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.66 and a quick ratio of 0.40.

General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, September 17th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. General Mills had a net margin of 15.24% and a return on equity of 23.46%. The business had revenue of $4.52 billion during the quarter, compared to analysts’ expectations of $4.52 billion. During the same period in the prior year, the company earned $1.07 EPS. The firm’s quarterly revenue was down 6.8% compared to the same quarter last year. Research analysts anticipate that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be given a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 4.9%. The ex-dividend date is Friday, October 10th. General Mills’s dividend payout ratio is 46.12%.

Insider Transactions at General Mills

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

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Mizuho cut their price objective on shares of General Mills from $57.00 to $52.00 and set a “neutral” rating for the company in a report on Friday, September 19th. Barclays cut their price target on shares of General Mills from $54.00 to $52.00 and set an “equal weight” rating for the company in a report on Friday, September 19th. HSBC cut their price target on shares of General Mills from $59.00 to $57.00 and set a “hold” rating for the company in a report on Thursday, September 18th. Stifel Nicolaus cut their price target on shares of General Mills from $65.00 to $56.00 and set a “buy” rating for the company in a report on Thursday, June 26th. Finally, Zacks Research raised shares of General Mills from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 2nd. Four investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $55.82.

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.