ProVise Management Group LLC lowered its position in General Mills Inc. (NYSE:GIS) by 1.7% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 50,081 shares of the company’s stock after selling 883 shares during the period. ProVise Management Group LLC’s holdings in General Mills were worth $3,572,000 as of its most recent filing with the SEC.
Other large investors have also recently made changes to their positions in the company. Mizuho Trust & Banking Co. Ltd. boosted its stake in shares of General Mills by 0.4% in the second quarter. Mizuho Trust & Banking Co. Ltd. now owns 1,023,137 shares of the company’s stock worth $72,970,000 after buying an additional 4,378 shares during the period. GaveKal Capital LLC boosted its stake in shares of General Mills by 5.0% in the second quarter. GaveKal Capital LLC now owns 273,177 shares of the company’s stock worth $19,483,000 after buying an additional 12,990 shares during the period. Panagora Asset Management Inc. boosted its stake in shares of General Mills by 647.8% in the first quarter. Panagora Asset Management Inc. now owns 1,363,848 shares of the company’s stock worth $86,400,000 after buying an additional 1,181,476 shares during the period. Aviance Capital Management LLC boosted its stake in shares of General Mills by 36.6% in the second quarter. Aviance Capital Management LLC now owns 197,419 shares of the company’s stock worth $14,080,000 after buying an additional 52,915 shares during the period. Finally, Sabal Trust CO boosted its stake in shares of General Mills by 1.4% in the second quarter. Sabal Trust CO now owns 367,084 shares of the company’s stock worth $26,180,000 after buying an additional 5,071 shares during the period. Institutional investors and hedge funds own 70.07% of the company’s stock.
General Mills Inc. (NYSE:GIS) traded up 1.55% during mid-day trading on Friday, hitting $61.66. 2,750,120 shares of the stock were exchanged. The stock has a 50 day moving average price of $63.17 and a 200 day moving average price of $66.07. General Mills Inc. has a 1-year low of $53.53 and a 1-year high of $72.95. The company has a market capitalization of $36.46 billion, a PE ratio of 22.42 and a beta of 0.45.
General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, September 21st. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.03. The firm had revenue of $3.91 billion for the quarter. General Mills had a return on equity of 33.82% and a net margin of 10.33%. General Mills’s quarterly revenue was down 7.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.79 earnings per share. On average, equities analysts anticipate that General Mills Inc. will post $3.10 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Monday, October 10th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend is Wednesday, October 5th. General Mills’s payout ratio is 69.82%.
A number of equities research analysts recently issued reports on GIS shares. Credit Suisse Group AG reiterated a “hold” rating and set a $74.00 target price on shares of General Mills in a research report on Thursday, September 8th. Bank of America Corp. restated a “hold” rating on shares of General Mills in a research report on Thursday, July 14th. BMO Capital Markets restated a “hold” rating and issued a $74.00 price objective on shares of General Mills in a research report on Thursday, September 22nd. S&P Equity Research restated a “buy” rating and issued a $70.00 price objective on shares of General Mills in a research report on Tuesday, September 27th. Finally, Goldman Sachs Group Inc. restated a “sell” rating and issued a $61.00 price objective (up previously from $60.00) on shares of General Mills in a research report on Friday, July 15th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $68.22.
In related news, insider John R. Church sold 99,373 shares of the stock in a transaction on Monday, August 15th. The stock was sold at an average price of $71.17, for a total value of $7,072,376.41. Following the transaction, the insider now directly owns 108,311 shares in the company, valued at approximately $7,708,493.87. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michael D. Rose sold 10,000 shares of the stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $71.11, for a total value of $711,100.00. Following the completion of the transaction, the director now owns 79,954 shares in the company, valued at $5,685,528.94. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.
General Mills Company Profile
General Mills, Inc is a manufacturer and marketer of branded consumer foods sold through retail stores. The Company is a supplier of branded and unbranded food products to the North American foodservice and commercial baking industries. The Company has three segments: U.S. Retail, International, and Convenience Stores and Foodservice.