Silverlake Wealth Management LLC Decreases Holdings in General Mills, Inc. (NYSE:GIS)

Silverlake Wealth Management LLC lowered its stake in General Mills, Inc. (NYSE:GIS) by 20.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,038 shares of the company’s stock after selling 1,318 shares during the period. Silverlake Wealth Management LLC’s holdings in General Mills were worth $352,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in GIS. Norges Bank purchased a new position in shares of General Mills in the 4th quarter worth approximately $377,205,000. Massachusetts Financial Services Co. MA boosted its stake in shares of General Mills by 106.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,442,653 shares of the company’s stock worth $224,254,000 after purchasing an additional 1,778,345 shares during the period. American Century Companies Inc. grew its holdings in General Mills by 257.7% during the 3rd quarter. American Century Companies Inc. now owns 1,061,943 shares of the company’s stock valued at $67,954,000 after purchasing an additional 765,070 shares during the last quarter. LSV Asset Management raised its position in General Mills by 165.6% in the 4th quarter. LSV Asset Management now owns 1,049,750 shares of the company’s stock worth $68,381,000 after purchasing an additional 654,550 shares during the period. Finally, International Assets Investment Management LLC lifted its stake in General Mills by 6,893.6% in the fourth quarter. International Assets Investment Management LLC now owns 512,139 shares of the company’s stock worth $33,361,000 after purchasing an additional 504,816 shares during the last quarter. 75.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. 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. Morgan Stanley increased their target price on General Mills from $58.00 to $61.00 and gave the stock an “underweight” rating in a research note on Thursday, March 21st. JPMorgan Chase & Co. lowered their target price on shares of General Mills from $70.00 to $63.00 and set a “neutral” rating for the company in a research note on Thursday, June 27th. Wells Fargo & Company reduced their price target on shares of General Mills from $70.00 to $67.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 27th. Finally, Bank of America lowered their price objective on shares of General Mills from $70.00 to $68.00 and set a “neutral” rating for the company in a research report on Thursday, June 27th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $70.44.

Insider Buying and Selling at General Mills

In related news, insider Werner Lanette Shaffer sold 710 shares of General Mills stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $70.57, for a total transaction of $50,104.70. Following the completion of the sale, the insider now owns 17,397 shares of the company’s stock, valued at $1,227,706.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.24% of the company’s stock.

General Mills Trading Down 0.2 %

Shares of NYSE:GIS opened at $63.17 on Wednesday. The business’s 50-day moving average is $68.35 and its 200 day moving average is $66.72. 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, Inc. has a 1 year low of $60.33 and a 1 year high of $77.63. The firm has a market capitalization of $35.26 billion, a P/E ratio of 14.66, a P/E/G ratio of 3.57 and a beta of 0.09.

General Mills (NYSE:GIS) last released its 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. General Mills had a net margin of 12.57% and a return on equity of 26.56%. The company had revenue of $4.71 billion during the quarter, compared to analysts’ expectations of $4.85 billion. During the same period last year, the business earned $1.12 EPS. General Mills’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, research analysts predict that General Mills, Inc. will post 4.5 earnings per share for the current fiscal year.

General Mills Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be given a dividend of $0.60 per share. The ex-dividend date is Wednesday, July 10th. This represents a $2.40 dividend on an annualized basis and a yield of 3.80%. This is a boost from General Mills’s previous quarterly dividend of $0.59. General Mills’s payout ratio is currently 54.76%.

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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.