Richardson Financial Services Inc. Sells 174 Shares of General Mills, Inc. (NYSE:GIS)

Richardson Financial Services Inc. trimmed its holdings in shares of General Mills, Inc. (NYSE:GIS) by 7.0% during the 2nd quarter, Holdings Channel reports. The fund owned 2,315 shares of the company’s stock after selling 174 shares during the period. Richardson Financial Services Inc.’s holdings in General Mills were worth $146,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in GIS. Rise Advisors LLC boosted its stake in shares of General Mills by 199.3% during the first quarter. Rise Advisors LLC now owns 410 shares of the company’s stock valued at $29,000 after purchasing an additional 273 shares in the last quarter. Capital Advisors Ltd. LLC increased its holdings in shares of General Mills by 409.8% in the 1st quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock valued at $29,000 after acquiring an additional 336 shares during the period. Fortis Group Advisors LLC raised its position in shares of General Mills by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 458 shares of the company’s stock worth $30,000 after acquiring an additional 229 shares in the last quarter. RFP Financial Group LLC raised its position in shares of General Mills by 66.3% in the 1st quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock worth $30,000 after acquiring an additional 173 shares in the last quarter. Finally, Perkins Coie Trust Co lifted its stake in shares of General Mills by 769.2% during the 1st quarter. Perkins Coie Trust Co now owns 452 shares of the company’s stock worth $32,000 after purchasing an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

General Mills Stock Performance

GIS opened at $74.90 on Friday. 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 12-month low of $60.33 and a 12-month high of $75.90. The firm has a 50 day moving average of $69.69 and a two-hundred day moving average of $68.44. The firm has a market capitalization of $41.81 billion, a PE ratio of 17.38, a P/E/G ratio of 3.86 and a beta of 0.10.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.01. General Mills had a net margin of 12.57% and a return on equity of 26.56%. The firm had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.80 billion. During the same quarter last year, the company posted $1.09 earnings per share. The firm’s revenue was down 1.2% compared to the same quarter last year. On average, analysts anticipate that General Mills, Inc. will post 4.5 EPS for the current year.

General Mills Increases Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have commented on GIS. Barclays reduced their target price 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. Stifel Nicolaus boosted their price objective on shares of General Mills from $70.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday. Evercore ISI lowered their target price on shares of General Mills from $76.00 to $72.00 and set an “in-line” rating for the company in a research note on Friday, June 28th. Mizuho reduced their price target 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, Piper Sandler raised their price objective on General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $71.93.

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.