Lombard Odier Asset Management Europe Ltd Sells 6,086 Shares of General Mills, Inc. (NYSE:GIS)

Lombard Odier Asset Management Europe Ltd decreased its stake in shares of General Mills, Inc. (NYSE:GIS) by 12.7% during the second quarter, HoldingsChannel reports. The firm owned 41,806 shares of the company’s stock after selling 6,086 shares during the quarter. Lombard Odier Asset Management Europe Ltd’s holdings in General Mills were worth $2,645,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. North Star Investment Management Corp. grew its holdings in shares of General Mills by 0.8% during the 1st quarter. North Star Investment Management Corp. now owns 17,228 shares of the company’s stock worth $1,205,000 after acquiring an additional 145 shares during the period. Deseret Mutual Benefit Administrators grew its stake in General Mills by 4.9% in the second quarter. Deseret Mutual Benefit Administrators now owns 3,261 shares of the company’s stock worth $206,000 after purchasing an additional 151 shares during the period. Park Place Capital Corp grew its stake in General Mills by 40.6% in 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. Secure Asset Management LLC raised its holdings in General Mills by 5.0% in the second quarter. Secure Asset Management LLC now owns 3,305 shares of the company’s stock worth $209,000 after purchasing an additional 157 shares in the last quarter. Finally, LCM Capital Management Inc lifted its position in General Mills by 1.9% during the second quarter. LCM Capital Management Inc now owns 8,521 shares of the company’s stock valued at $539,000 after buying an additional 157 shares during the period. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on GIS. Argus reiterated a “hold” rating on shares of General Mills in a research note on Tuesday, July 16th. Evercore ISI decreased 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 lowered their target price on shares of General Mills from $70.00 to $62.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. Bank of America upped their price target on General Mills from $68.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Finally, Barclays lifted their price objective on General Mills from $67.00 to $74.00 and gave the company an “equal weight” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $72.73.

General Mills Price Performance

GIS opened at $74.19 on Tuesday. The company’s 50-day simple moving average is $70.14 and its two-hundred day simple moving average is $68.63. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.38 and a current ratio of 0.65. The stock has a market capitalization of $41.41 billion, a P/E ratio of 17.21, a P/E/G ratio of 3.86 and a beta of 0.10. General Mills, Inc. has a 52-week low of $60.33 and a 52-week high of $75.90.

General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. General Mills had a net margin of 12.57% and a return on equity of 26.56%. The company had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter in the prior year, the firm earned $1.09 earnings per share. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. As a group, analysts predict that General Mills, Inc. will post 4.5 EPS for the current year.

General Mills Increases Dividend

The company 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. This is an increase from General Mills’s previous quarterly dividend of $0.59. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date was Wednesday, July 10th. General Mills’s dividend payout ratio (DPR) is 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.