General Mills, Inc. (NYSE:GIS) Shares Sold by Main Street Financial Solutions LLC

Main Street Financial Solutions LLC trimmed its position in General Mills, Inc. (NYSE:GIS) by 18.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,262 shares of the company’s stock after selling 751 shares during the period. Main Street Financial Solutions LLC’s holdings in General Mills were worth $206,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Arkadios Wealth Advisors increased its holdings in shares of General Mills by 41.8% in the second quarter. Arkadios Wealth Advisors now owns 36,503 shares of the company’s stock valued at $2,309,000 after purchasing an additional 10,765 shares during the period. Optimist Retirement Group LLC purchased a new position in General Mills during the 4th quarter worth approximately $1,171,000. State Board of Administration of Florida Retirement System lifted its stake in General Mills by 5.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 688,543 shares of the company’s stock valued at $48,177,000 after acquiring an additional 38,021 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in General Mills by 16.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 696,170 shares of the company’s stock valued at $48,711,000 after acquiring an additional 96,712 shares during the period. Finally, Mitchell Sinkler & Starr PA boosted its holdings in shares of General Mills by 164.1% in the 4th quarter. Mitchell Sinkler & Starr PA now owns 18,182 shares of the company’s stock valued at $1,307,000 after acquiring an additional 11,298 shares during the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

General Mills Price Performance

Shares of General Mills stock opened at $73.71 on Friday. The stock has a market capitalization of $41.03 billion, a P/E ratio of 17.10, a PEG ratio of 3.86 and a beta of 0.10. The business has a 50 day simple moving average of $68.73 and a two-hundred day simple moving average of $68.18. General Mills, Inc. has a 12 month low of $60.33 and a 12 month high of $75.90. 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 (NYSE:GIS) last announced its earnings results on Wednesday, June 26th. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.02. The company had revenue of $4.71 billion for the quarter, compared to analysts’ expectations of $4.85 billion. General Mills had a net margin of 12.57% and a return on equity of 26.56%. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.12 EPS. As a group, analysts predict that General Mills, Inc. will post 4.5 EPS for the current fiscal year.

General Mills Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.26%. This is a positive change from General Mills’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Wednesday, July 10th. General Mills’s dividend payout ratio (DPR) is 55.68%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Bank of America raised their target price on shares of General Mills from $68.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday. Royal Bank of Canada reissued a “sector perform” rating and issued a $70.00 price objective on shares of General Mills in a report on Thursday, June 27th. Evercore ISI reduced their price target on General Mills from $76.00 to $72.00 and set an “in-line” rating for the company in a research report on Friday, June 28th. Mizuho lowered their price objective on General Mills from $70.00 to $62.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. Finally, Stifel Nicolaus dropped their price objective on shares of General Mills from $77.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $70.07.

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.