Hoylecohen LLC Has $639,000 Stake in General Mills, Inc. (NYSE:GIS)

Hoylecohen LLC reduced its holdings in shares of General Mills, Inc. (NYSE:GIS) by 10.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,106 shares of the company’s stock after selling 1,200 shares during the quarter. Hoylecohen LLC’s holdings in General Mills were worth $639,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Cetera Trust Company N.A bought a new stake in shares of General Mills during the 4th quarter worth approximately $50,000. Optimist Retirement Group LLC bought a new position in shares of General Mills in the 4th quarter valued at $1,171,000. State Board of Administration of Florida Retirement System raised its holdings in shares of General Mills by 5.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 688,543 shares of the company’s stock worth $48,177,000 after buying an additional 38,021 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of General Mills by 16.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 696,170 shares of the company’s stock worth $48,711,000 after buying an additional 96,712 shares during the last quarter. Finally, Apollon Wealth Management LLC boosted its stake in General Mills by 122.7% in the fourth quarter. Apollon Wealth Management LLC now owns 23,675 shares of the company’s stock valued at $1,542,000 after buying an additional 13,043 shares in the last quarter. Institutional investors own 75.71% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on GIS shares. JPMorgan Chase & Co. lowered their target price on General Mills from $70.00 to $63.00 and set a “neutral” rating for the company in a report on Thursday, June 27th. Mizuho lowered their price objective on General Mills from $70.00 to $62.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. The Goldman Sachs Group began coverage on shares of General Mills in a research report on Monday, August 12th. They set a “buy” rating and a $76.00 target price on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $70.00 price target on shares of General Mills in a research report on Thursday, June 27th. Finally, Bank of America cut their price target on shares of General Mills from $70.00 to $68.00 and set a “neutral” rating on the stock in a report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $69.71.

General Mills Stock Up 0.4 %

Shares of NYSE GIS traded up $0.28 during mid-day trading on Friday, hitting $69.03. The company had a trading volume of 2,320,963 shares, compared to its average volume of 4,033,532. General Mills, Inc. has a 1-year low of $60.33 and a 1-year high of $74.45. The company has a market capitalization of $38.53 billion, a PE ratio of 16.02, a price-to-earnings-growth ratio of 3.83 and a beta of 0.09. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.65 and a quick ratio of 0.38. The business’s 50-day simple moving average is $65.90 and its 200 day simple moving average is $67.03.

General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, June 26th. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.02. General Mills had a return on equity of 26.56% and a net margin of 12.57%. The business had revenue of $4.71 billion during the quarter, compared to analysts’ expectations of $4.85 billion. During the same period in the prior year, the firm posted $1.12 EPS. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. On average, analysts predict that General Mills, Inc. will post 4.49 earnings per share for the current year.

General Mills Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were issued a dividend of $0.60 per share. This is a boost from General Mills’s previous quarterly dividend of $0.59. This represents a $2.40 annualized dividend and a yield of 3.48%. The ex-dividend date was Wednesday, July 10th. General Mills’s dividend payout ratio is currently 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.