Beaton Management Co. Inc. Decreases Stock Holdings in General Mills, Inc. (NYSE:GIS)

Beaton Management Co. Inc. decreased its holdings in General Mills, Inc. (NYSE:GIS) by 5.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,754 shares of the company’s stock after selling 550 shares during the period. Beaton Management Co. Inc.’s holdings in General Mills were worth $617,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Private Trust Co. NA lifted its position in shares of General Mills by 1.4% during the first quarter. Private Trust Co. NA now owns 10,280 shares of the company’s stock worth $719,000 after purchasing an additional 140 shares during the last quarter. North Star Investment Management Corp. boosted its stake in General Mills by 0.8% in the 1st quarter. North Star Investment Management Corp. now owns 17,228 shares of the company’s stock worth $1,205,000 after purchasing an additional 145 shares in the last quarter. Deseret Mutual Benefit Administrators raised its stake in General Mills by 4.9% in the 2nd quarter. Deseret Mutual Benefit Administrators now owns 3,261 shares of the company’s stock worth $206,000 after acquiring an additional 151 shares during the last quarter. Park Place Capital Corp lifted its holdings in shares of General Mills by 40.6% during the first quarter. Park Place Capital Corp now owns 540 shares of the company’s stock worth $38,000 after purchasing an additional 156 shares during the period. Finally, Secure Asset Management LLC boosted its holdings in shares of General Mills by 5.0% in the 2nd quarter. Secure Asset Management LLC now owns 3,305 shares of the company’s stock valued at $209,000 after acquiring an additional 157 shares during the last quarter. 75.71% of the stock is owned by institutional investors.

General Mills Stock Performance

Shares of NYSE GIS opened at $74.90 on Friday. General Mills, Inc. has a 12 month low of $60.33 and a 12 month high of $75.90. The company has a 50-day simple moving average of $69.69 and a 200-day simple moving average of $68.44. The company has a market cap of $41.81 billion, a PE ratio of 17.38, a price-to-earnings-growth ratio of 3.86 and a beta of 0.10. 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 released its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. General Mills had a return on equity of 26.56% and a net margin of 12.57%. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.09 EPS. On average, equities analysts anticipate 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. Shareholders of record on Wednesday, July 10th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date was Wednesday, July 10th. This is a boost from General Mills’s previous quarterly dividend of $0.59. General Mills’s dividend payout ratio is currently 55.68%.

Analyst Ratings Changes

A number of research firms have weighed in on GIS. Barclays cut their price objective on shares of General Mills from $72.00 to $67.00 and set an “equal weight” rating for the company in a report on Friday, June 28th. Argus restated a “hold” rating on shares of General Mills in a research report on Tuesday, July 16th. Evercore ISI reduced their target price on shares of 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. Piper Sandler boosted their price objective on shares of General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Stifel Nicolaus boosted their price objective on General Mills from $70.00 to $82.00 and gave the company a “buy” rating in a report on Thursday. One 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 company’s stock. Based on data from MarketBeat.com, General Mills presently has a consensus rating of “Hold” and a consensus target price of $71.93.

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.