Slocum Gordon & Co LLP Has $477,000 Stock Holdings in General Mills, Inc. (NYSE:GIS)

Slocum Gordon & Co LLP raised its stake in shares of General Mills, Inc. (NYSE:GIS) by 4.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,540 shares of the company’s stock after buying an additional 340 shares during the period. Slocum Gordon & Co LLP’s holdings in General Mills were worth $477,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Arkadios Wealth Advisors grew its stake in General Mills by 41.8% in the second quarter. Arkadios Wealth Advisors now owns 36,503 shares of the company’s stock valued at $2,309,000 after purchasing an additional 10,765 shares in the last quarter. Optimist Retirement Group LLC acquired a new position in General Mills in the fourth quarter worth approximately $1,171,000. State Board of Administration of Florida Retirement System raised its position in General Mills by 5.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 688,543 shares of the company’s stock valued at $48,177,000 after acquiring an additional 38,021 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in General Mills by 16.1% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 696,170 shares of the company’s stock valued at $48,711,000 after acquiring an additional 96,712 shares during the last quarter. Finally, Mitchell Sinkler & Starr PA grew its position in General Mills by 164.1% in the fourth quarter. Mitchell Sinkler & Starr PA now owns 18,182 shares of the company’s stock worth $1,307,000 after acquiring an additional 11,298 shares in the last quarter. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GIS has been the topic of a number of recent research reports. Barclays cut their price target 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. The Goldman Sachs Group began coverage on General Mills in a research report on Monday, August 12th. They issued a “buy” rating and a $76.00 price target for the company. Bank of America lowered their price objective on General Mills from $70.00 to $68.00 and set a “neutral” rating on the stock in a report on Thursday, June 27th. JPMorgan Chase & Co. reduced 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. Finally, Argus reiterated a “hold” rating on shares of General Mills in a report on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $69.56.

General Mills Stock Performance

NYSE:GIS opened at $74.87 on Friday. The firm’s 50-day moving average is $67.41 and its 200-day moving average is $67.77. The company has a market cap of $41.79 billion, a price-to-earnings ratio of 17.29, a PEG ratio of 4.09 and a beta of 0.09. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.38 and a current ratio of 0.65. General Mills, Inc. has a 52-week low of $60.33 and a 52-week high of $74.91.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, June 26th. The company reported $1.01 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $4.71 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same period in the previous year, the company posted $1.12 earnings per share. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. Equities research analysts anticipate that General Mills, Inc. will post 4.49 earnings per share for the current year.

General Mills Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $2.40 dividend on an annualized basis and a yield of 3.21%. This is an increase from General Mills’s previous quarterly dividend of $0.59. General Mills’s payout ratio is currently 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.