General Mills, Inc. (NYSE:GIS) Shares Sold by FineMark National Bank & Trust

FineMark National Bank & Trust lessened its position in General Mills, Inc. (NYSE:GIS) by 5.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 3,800 shares of the company’s stock after selling 200 shares during the quarter. FineMark National Bank & Trust’s holdings in General Mills were worth $240,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in General Mills by 16.3% in the 1st quarter. Vanguard Group Inc. now owns 60,298,880 shares of the company’s stock valued at $4,219,113,000 after purchasing an additional 8,444,312 shares during the last quarter. Capital Research Global Investors raised its position in shares of General Mills by 22.3% in the first quarter. Capital Research Global Investors now owns 13,650,388 shares of the company’s stock valued at $955,118,000 after buying an additional 2,488,341 shares during the last quarter. Capital World Investors lifted its stake in shares of General Mills by 7.6% in the fourth quarter. Capital World Investors now owns 7,074,884 shares of the company’s stock worth $460,858,000 after buying an additional 501,717 shares in the last quarter. Norges Bank acquired a new position in General Mills during the fourth quarter worth about $377,205,000. Finally, Nordea Investment Management AB grew its stake in General Mills by 7.4% during the 1st quarter. Nordea Investment Management AB now owns 5,362,663 shares of the company’s stock valued at $376,459,000 after acquiring an additional 369,628 shares in the last quarter. 75.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GIS has been the topic of several recent research reports. Stifel Nicolaus lowered their target price on General Mills from $77.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, June 27th. The Goldman Sachs Group initiated coverage on General Mills in a research note on Monday, August 12th. They set a “buy” rating and a $76.00 price objective on the stock. Mizuho cut their target price on General Mills from $70.00 to $62.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. Wells Fargo & Company lowered 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 report on Thursday, June 27th. Finally, Bank of America cut 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. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $69.56.

General Mills Stock Up 0.8 %

General Mills stock opened at $75.08 on Friday. The company has a market capitalization of $41.91 billion, a PE ratio of 17.42, a price-to-earnings-growth ratio of 4.09 and a beta of 0.09. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.38 and a current ratio of 0.65. General Mills, Inc. has a fifty-two week low of $60.33 and a fifty-two week high of $75.54. The firm has a 50 day moving average price of $67.64 and a 200 day moving average price of $67.85.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, June 26th. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.99 by $0.02. The business had revenue of $4.71 billion during the quarter, compared to analyst estimates of $4.85 billion. General Mills had a return on equity of 26.56% and a net margin of 12.57%. The company’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period last year, the business posted $1.12 earnings per share. Research analysts expect that General Mills, Inc. will post 4.49 earnings per share for the current year.

General Mills Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were given a $0.60 dividend. This is an increase from General Mills’s previous quarterly dividend of $0.59. This represents a $2.40 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend was Wednesday, July 10th. General Mills’s payout ratio is currently 55.68%.

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.