PFG Investments LLC Reduces Stake in General Mills, Inc. (NYSE:GIS)

PFG Investments LLC reduced its position in General Mills, Inc. (NYSE:GIS) by 17.1% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 18,602 shares of the company’s stock after selling 3,828 shares during the period. PFG Investments LLC’s holdings in General Mills were worth $1,177,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of GIS. Rise Advisors LLC boosted its stake in shares of General Mills by 199.3% in the 1st quarter. Rise Advisors LLC now owns 410 shares of the company’s stock worth $29,000 after buying an additional 273 shares during the last quarter. Capital Advisors Ltd. LLC boosted its stake in shares of General Mills by 409.8% in the 1st quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock worth $29,000 after buying an additional 336 shares during the last quarter. Fortis Group Advisors LLC boosted its stake in shares of General Mills by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 458 shares of the company’s stock worth $30,000 after buying an additional 229 shares during the last quarter. RFP Financial Group LLC boosted its stake in shares of General Mills by 66.3% in the 1st quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock worth $30,000 after buying an additional 173 shares during the last quarter. Finally, Perkins Coie Trust Co boosted its stake in shares of General Mills by 769.2% in the 1st quarter. Perkins Coie Trust Co now owns 452 shares of the company’s stock worth $32,000 after buying an additional 400 shares during the last quarter. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

General Mills Price Performance

Shares of General Mills stock opened at $75.15 on Tuesday. General Mills, Inc. has a 52 week low of $60.33 and a 52 week high of $75.54. The company has a quick ratio of 0.38, a current ratio of 0.65 and a debt-to-equity ratio of 1.17. The stock’s 50-day simple moving average is $67.88 and its 200-day simple moving average is $67.95. The company has a market capitalization of $41.83 billion, a price-to-earnings ratio of 17.44, a PEG ratio of 4.25 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 (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 firm had revenue of $4.71 billion for the quarter, compared to analysts’ expectations of $4.85 billion. During the same period in the previous year, the firm posted $1.12 earnings per share. The business’s revenue was down 6.3% compared to the same quarter last year. As a group, analysts expect that General Mills, Inc. will post 4.49 earnings per share for the current fiscal year.

General Mills Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.19%. This is a boost from General Mills’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Wednesday, July 10th. General Mills’s payout ratio is 55.68%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Barclays dropped their price target on General Mills from $72.00 to $67.00 and set an “equal weight” rating on the stock in a research note on Friday, June 28th. Sanford C. Bernstein upgraded General Mills from an “underperform” rating to a “market perform” rating and lifted their target price for the company from $62.00 to $70.00 in a research report on Wednesday, May 15th. Bank of America lowered their target price on General Mills from $70.00 to $68.00 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. Mizuho lowered their target price on General Mills from $70.00 to $62.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. Finally, Stifel Nicolaus lowered their target price on General Mills from $77.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, General Mills has a consensus rating of “Hold” and a consensus target price of $69.07.

General Mills 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.