Gideon Capital Advisors Inc. Sells 2,363 Shares of General Mills, Inc. (GIS)

Gideon Capital Advisors Inc. decreased its stake in shares of General Mills, Inc. (NYSE:GIS) by 9.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,033 shares of the company’s stock after selling 2,363 shares during the period. Gideon Capital Advisors Inc.’s holdings in General Mills were worth $975,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in GIS. HC Financial Advisors Inc. purchased a new position in General Mills during the fourth quarter worth $766,000. Global X Management Co. LLC increased its position in General Mills by 1,233.8% during the first quarter. Global X Management Co. LLC now owns 153,630 shares of the company’s stock worth $6,923,000 after buying an additional 142,112 shares in the last quarter. HL Financial Services LLC grew its position in shares of General Mills by 39.9% in the first quarter. HL Financial Services LLC now owns 25,545 shares of the company’s stock valued at $1,151,000 after purchasing an additional 7,281 shares during the period. Hennessy Advisors Inc. grew its position in shares of General Mills by 82.2% in the first quarter. Hennessy Advisors Inc. now owns 154,700 shares of the company’s stock valued at $6,971,000 after purchasing an additional 69,800 shares during the period. Finally, Daiwa Securities Group Inc. grew its position in shares of General Mills by 5.0% in the first quarter. Daiwa Securities Group Inc. now owns 25,996 shares of the company’s stock valued at $1,171,000 after purchasing an additional 1,240 shares during the period. 71.75% of the stock is owned by institutional investors.

A number of brokerages have recently commented on GIS. ValuEngine downgraded General Mills from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 2nd. Zacks Investment Research downgraded General Mills from a “hold” rating to a “sell” rating in a research report on Wednesday, June 20th. Goldman Sachs Group raised General Mills from a “sell” rating to a “neutral” rating and set a $47.00 price objective for the company in a research report on Wednesday, May 16th. Bank of America reaffirmed a “hold” rating and issued a $49.00 price objective on shares of General Mills in a research report on Wednesday, June 27th. Finally, Susquehanna Bancshares set a $50.00 price objective on General Mills and gave the company a “buy” rating in a research report on Monday, May 21st. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and six have issued a buy rating to the stock. General Mills has a consensus rating of “Hold” and an average target price of $50.71.

In other news, CEO Jeffrey L. Harmening bought 6,000 shares of General Mills stock in a transaction that occurred on Wednesday, May 23rd. The shares were purchased at an average price of $42.18 per share, for a total transaction of $253,080.00. Following the completion of the acquisition, the chief executive officer now owns 114,696 shares of the company’s stock, valued at $4,837,877.28. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jonathon Nudi sold 5,066 shares of General Mills stock in a transaction on Monday, July 9th. The shares were sold at an average price of $44.44, for a total value of $225,133.04. Following the completion of the transaction, the insider now owns 50,653 shares in the company, valued at approximately $2,251,019.32. The disclosure for this sale can be found here. Insiders sold 158,018 shares of company stock worth $7,114,487 in the last quarter. 1.40% of the stock is owned by insiders.

Shares of General Mills stock opened at $46.23 on Thursday. General Mills, Inc. has a twelve month low of $41.01 and a twelve month high of $60.69. The firm has a market capitalization of $26.81 billion, a P/E ratio of 14.86, a PEG ratio of 1.74 and a beta of 0.77. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.34 and a current ratio of 0.56.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, June 27th. The company reported $0.79 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.07. General Mills had a return on equity of 35.14% and a net margin of 13.54%. The firm had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same quarter last year, the firm earned $0.73 earnings per share. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. equities research analysts predict that General Mills, Inc. will post 3.05 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 1st. Investors of record on Tuesday, July 10th were issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 4.24%. The ex-dividend date was Monday, July 9th. General Mills’s payout ratio is currently 63.02%.

General Mills Company Profile

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.

Featured Article: NASDAQ Stock Market Explained

Want to see what other hedge funds are holding GIS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Mills, Inc. (NYSE:GIS).

Institutional Ownership by Quarter for General Mills (NYSE:GIS)

Receive News & Ratings for General Mills Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Mills and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply