Prosperity Consulting Group LLC Sells 1,164 Shares of General Mills, Inc. $GIS

Prosperity Consulting Group LLC cut its stake in General Mills, Inc. (NYSE:GIS) by 9.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,675 shares of the company’s stock after selling 1,164 shares during the period. Prosperity Consulting Group LLC’s holdings in General Mills were worth $553,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of GIS. Kera Capital Partners Inc. acquired a new position in General Mills during the second quarter valued at approximately $222,000. Victory Capital Management Inc. grew its holdings in General Mills by 7.3% during the first quarter. Victory Capital Management Inc. now owns 522,576 shares of the company’s stock valued at $31,245,000 after purchasing an additional 35,494 shares during the period. Commonwealth Equity Services LLC grew its holdings in General Mills by 7.8% during the first quarter. Commonwealth Equity Services LLC now owns 452,844 shares of the company’s stock valued at $27,076,000 after purchasing an additional 32,628 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in General Mills by 22.6% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 383,877 shares of the company’s stock valued at $19,889,000 after purchasing an additional 70,800 shares during the period. Finally, Rock Point Advisors LLC acquired a new position in General Mills during the first quarter valued at approximately $3,610,000. 75.71% of the stock is owned by institutional investors.

General Mills Stock Performance

Shares of GIS stock opened at $46.40 on Thursday. The company’s fifty day simple moving average is $49.12 and its 200-day simple moving average is $51.32. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 1.28. The firm has a market cap of $24.75 billion, a PE ratio of 8.77, a P/E/G ratio of 1.17 and a beta of -0.04. General Mills, Inc. has a 12 month low of $45.80 and a 12 month high of $68.74.

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

General Mills Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Friday, October 10th were given a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date of this dividend was Friday, October 10th. General Mills’s payout ratio is currently 46.12%.

Analyst Ratings Changes

A number of brokerages recently issued reports on GIS. Weiss Ratings restated a “hold (c-)” rating on shares of General Mills in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of General Mills from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $45.00 price target (down previously from $53.00) on shares of General Mills in a report on Wednesday, August 20th. Barclays reduced 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. Finally, Zacks Research upgraded shares of General Mills from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 2nd. Four analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $55.82.

Insider Activity at General Mills

In other news, insider Jacqueline Williams-Roll sold 4,000 shares of the business’s stock in a transaction 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 sale, the insider owned 66,593 shares of the company’s stock, valued at $3,332,313.72. The trade was a 5.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.30% of the stock is currently owned by corporate insiders.

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.