Federated Hermes Inc. Sells 4,396 Shares of General Mills, Inc. (NYSE:GIS)

Federated Hermes Inc. reduced its position in General Mills, Inc. (NYSE:GIS) by 1.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 387,289 shares of the company’s stock after selling 4,396 shares during the quarter. Federated Hermes Inc. owned about 0.07% of General Mills worth $24,500,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Meeder Advisory Services Inc. lifted its stake in General Mills by 48.8% during the second quarter. Meeder Advisory Services Inc. now owns 12,349 shares of the company’s stock worth $781,000 after purchasing an additional 4,052 shares during the last quarter. Oppenheimer & Co. Inc. lifted its position in shares of General Mills by 7.4% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 47,411 shares of the company’s stock worth $2,999,000 after buying an additional 3,270 shares during the last quarter. BOKF NA boosted its stake in General Mills by 1.8% in the second quarter. BOKF NA now owns 24,621 shares of the company’s stock valued at $1,558,000 after buying an additional 428 shares in the last quarter. Achmea Investment Management B.V. grew its position in General Mills by 4.9% in the second quarter. Achmea Investment Management B.V. now owns 40,677 shares of the company’s stock valued at $2,573,000 after acquiring an additional 1,891 shares during the last quarter. Finally, Y.D. More Investments Ltd acquired a new position in General Mills during the 2nd quarter worth approximately $79,000. 75.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GIS. Citigroup decreased their target price on shares of General Mills from $71.00 to $68.00 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. Mizuho lowered their target price on General Mills from $70.00 to $62.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. Argus reissued a “hold” rating on shares of General Mills in a research note on Tuesday, July 16th. Stifel Nicolaus dropped their price objective on shares of General Mills from $77.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, June 27th. Finally, Barclays reduced their target price on shares of General Mills from $72.00 to $67.00 and set an “equal weight” rating on the stock in a report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, General Mills currently has a consensus rating of “Hold” and an average price target of $70.07.

General Mills Stock Performance

Shares of General Mills stock opened at $73.71 on Monday. The business has a 50-day moving average price of $68.73 and a two-hundred day moving average price of $68.20. General Mills, Inc. has a 1-year low of $60.33 and a 1-year high of $75.90. The company has a current ratio of 0.65, a quick ratio of 0.38 and a debt-to-equity ratio of 1.17. The company has a market cap of $41.03 billion, a P/E ratio of 17.10, a PEG ratio of 3.86 and a beta of 0.10.

General Mills (NYSE:GIS) last issued its 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. The business had revenue of $4.71 billion during the quarter, compared to the consensus estimate of $4.85 billion. General Mills had a return on equity of 26.56% and a net margin of 12.57%. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.12 earnings per share. As a group, analysts anticipate that General Mills, Inc. will post 4.5 EPS 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 paid a $0.60 dividend. This is an increase from General Mills’s previous quarterly dividend of $0.59. This represents a $2.40 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend was Wednesday, July 10th. General Mills’s payout ratio is 55.68%.

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.