Colonial Trust Advisors Sells 1,214 Shares of General Mills, Inc. $GIS

Colonial Trust Advisors reduced its holdings in shares of General Mills, Inc. (NYSE:GIS) by 25.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,525 shares of the company’s stock after selling 1,214 shares during the quarter. Colonial Trust Advisors’ holdings in General Mills were worth $183,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of General Mills by 434.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 19,041,194 shares of the company’s stock worth $1,138,473,000 after buying an additional 15,480,835 shares in the last quarter. Norges Bank purchased a new position in General Mills in the second quarter worth $417,508,000. Nuveen LLC acquired a new position in shares of General Mills in the 1st quarter valued at $92,717,000. LSV Asset Management raised its holdings in shares of General Mills by 33.2% during the first quarter. LSV Asset Management now owns 3,753,710 shares of the company’s stock worth $224,434,000 after purchasing an additional 935,930 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in shares of General Mills by 8.1% in the 1st quarter. Ameriprise Financial Inc. now owns 9,864,819 shares of the company’s stock valued at $589,814,000 after purchasing an additional 741,432 shares during the period. Institutional investors own 75.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on GIS. Barclays cut their price objective 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. UBS Group reduced their price objective on shares of General Mills from $49.00 to $47.00 and set a “sell” rating for the company in a research report on Thursday, September 18th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $45.00 target price (down previously from $53.00) on shares of General Mills in a report on Wednesday, August 20th. Bernstein Bank lowered their price target on shares of General Mills from $55.00 to $54.00 and set a “market perform” rating on the stock in a research report on Thursday, September 18th. Finally, Jefferies Financial Group dropped their target price on shares of General Mills from $51.00 to $50.00 and set a “hold” rating for the company in a research report on Monday, September 8th. Four analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $55.82.

General Mills Stock Performance

Shares of NYSE:GIS opened at $47.60 on Friday. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.66 and a quick ratio of 0.40. The stock has a market capitalization of $25.39 billion, a price-to-earnings ratio of 9.00, a price-to-earnings-growth ratio of 1.17 and a beta of -0.04. The business’s fifty day moving average price is $48.24 and its two-hundred day moving average price is $50.33. General Mills, Inc. has a fifty-two week low of $45.80 and a fifty-two week high of $67.40.

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

General Mills Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Friday, January 9th will be issued a dividend of $0.61 per share. The ex-dividend date is Friday, January 9th. This represents a $2.44 annualized dividend and a dividend yield of 5.1%. General Mills’s dividend payout ratio is 46.12%.

Insider Activity

In other General Mills news, insider Jacqueline Williams-Roll sold 4,000 shares of the firm’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 transaction of $200,160.00. Following the completion of the transaction, the insider owned 66,593 shares in the company, valued at approximately $3,332,313.72. This trade represents a 5.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.30% of the stock is 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.