Palouse Capital Management Inc. Has $3.38 Million Stock Holdings in General Mills, Inc. (NYSE:GIS)

Palouse Capital Management Inc. decreased its holdings in shares of General Mills, Inc. (NYSE:GIS) by 1.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 53,444 shares of the company’s stock after selling 1,026 shares during the period. General Mills comprises 2.3% of Palouse Capital Management Inc.’s portfolio, making the stock its 17th biggest holding. Palouse Capital Management Inc.’s holdings in General Mills were worth $3,381,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of General Mills by 16.3% during the 1st quarter. Vanguard Group Inc. now owns 60,298,880 shares of the company’s stock worth $4,219,113,000 after buying an additional 8,444,312 shares during the period. Capital Research Global Investors raised its stake in General Mills by 22.3% during the first quarter. Capital Research Global Investors now owns 13,650,388 shares of the company’s stock worth $955,118,000 after acquiring an additional 2,488,341 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of General Mills by 100.4% during the second quarter. American Century Companies Inc. now owns 4,728,710 shares of the company’s stock valued at $299,138,000 after acquiring an additional 2,368,563 shares during the period. Wulff Hansen & CO. boosted its stake in shares of General Mills by 6,140.4% in the 2nd quarter. Wulff Hansen & CO. now owns 945,421 shares of the company’s stock valued at $59,807,000 after purchasing an additional 930,271 shares in the last quarter. Finally, Swedbank AB bought a new stake in shares of General Mills in the 1st quarter worth about $36,177,000. 75.71% of the stock is owned by institutional investors and hedge funds.

General Mills Stock Performance

Shares of NYSE:GIS opened at $74.99 on Thursday. The company has a current ratio of 0.65, a quick ratio of 0.38 and a debt-to-equity ratio of 1.17. General Mills, Inc. has a 1-year low of $60.33 and a 1-year high of $75.90. The stock has a market capitalization of $41.86 billion, a P/E ratio of 17.40, a P/E/G ratio of 3.86 and a beta of 0.10. The business has a 50-day moving average price of $69.45 and a two-hundred day moving average price of $68.40.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, June 26th. The company reported $1.01 earnings per share 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 business had revenue of $4.71 billion during the quarter, compared to the consensus estimate of $4.85 billion. During the same period in the previous year, the firm posted $1.12 earnings per share. General Mills’s revenue for the quarter was down 6.3% compared to the same quarter last year. Equities analysts predict that General Mills, Inc. will post 4.5 earnings per share for the current year.

General Mills Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have commented on GIS. Wells Fargo & Company boosted their price target on shares of General Mills from $67.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, September 13th. The Goldman Sachs Group assumed coverage on General Mills in a report on Monday, August 12th. They issued a “buy” rating and a $76.00 target price on the stock. Evercore ISI dropped their price target on General Mills from $76.00 to $72.00 and set an “in-line” rating for the company in a report on Friday, June 28th. Citigroup boosted their price objective on General Mills from $68.00 to $76.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, Barclays lowered their target price on General Mills from $72.00 to $67.00 and set an “equal weight” rating for the company in a research note on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, General Mills presently has a consensus rating of “Hold” and an average target price of $70.60.

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 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.