General Mills, Inc. (NYSE:GIS) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lowered its holdings in General Mills, Inc. (NYSE:GIS) by 25.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 421,820 shares of the company’s stock after selling 145,750 shares during the period. Commonwealth Equity Services LLC owned 0.07% of General Mills worth $25,701,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GIS. Sage Financial Management Group Inc. acquired a new position in shares of General Mills during the 1st quarter valued at about $25,000. TD Capital Management LLC grew its holdings in General Mills by 77.1% in the first quarter. TD Capital Management LLC now owns 425 shares of the company’s stock valued at $26,000 after purchasing an additional 185 shares during the period. Disciplined Investments LLC acquired a new position in General Mills during the first quarter worth approximately $26,000. Meridian Wealth Partners LLC purchased a new position in General Mills during the first quarter worth approximately $27,000. Finally, SRS Capital Advisors Inc. acquired a new position in shares of General Mills in the 2nd quarter valued at $33,000. Hedge funds and other institutional investors own 75.07% of the company’s stock.

GIS opened at $60.54 on Friday. The firm’s 50 day moving average is $58.85 and its 200-day moving average is $60.41. General Mills, Inc. has a 52-week low of $53.96 and a 52-week high of $64.65. The company has a quick ratio of 0.48, a current ratio of 0.70 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $36.70 billion, a P/E ratio of 16.02, a P/E/G ratio of 2.06 and a beta of 0.57.

General Mills (NYSE:GIS) last released its quarterly earnings results on Tuesday, September 21st. The company reported $0.99 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.10. The business had revenue of $4.54 billion during the quarter, compared to analyst estimates of $4.30 billion. General Mills had a net margin of 12.91% and a return on equity of 25.61%. The business’s revenue was up 4.0% on a year-over-year basis. During the same period last year, the business earned $1.00 EPS. Equities analysts expect that General Mills, Inc. will post 3.78 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, August 2nd. Investors of record on Friday, July 9th were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date was Thursday, July 8th. General Mills’s dividend payout ratio is currently 53.83%.

In other General Mills news, insider Sean N. Walker sold 26,337 shares of the company’s stock in a transaction that occurred on Wednesday, July 14th. The stock was sold at an average price of $58.78, for a total value of $1,548,088.86. Following the transaction, the insider now directly owns 105,647 shares of the company’s stock, valued at approximately $6,209,930.66. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.53% of the stock is owned by company insiders.

Several research analysts recently weighed in on the company. Credit Suisse Group lowered General Mills from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $68.00 to $63.00 in a research report on Monday, September 13th. Citigroup reduced their price objective on General Mills from $66.00 to $63.00 and set a “neutral” rating on the stock in a research note on Friday. Morgan Stanley downgraded shares of General Mills from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $57.00 to $51.00 in a research report on Tuesday. Royal Bank of Canada lifted their price target on shares of General Mills from $65.00 to $66.00 and gave the company a “sector perform” rating in a research report on Thursday. Finally, Jefferies Financial Group began coverage on shares of General Mills in a research report on Thursday. They issued a “hold” rating and a $64.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $61.38.

General Mills Profile

General Mills, Inc engages in the manufacture and marketing of branded consumer foods sold through retail stores. It operates through the following segments: North America Retail, Europe & Australia, Convenience Stores & Foodservice, Pet and Asia & Latin America. The North America Retail segment includes grocery stores, mass merchandisers, membership stores, natural food chains, drug, dollar and discount chains and e-commerce grocery providers.

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

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