General Mills, Inc. $GIS Shares Sold by Boston Family Office LLC

Boston Family Office LLC trimmed its stake in shares of General Mills, Inc. (NYSE:GIS) by 2.0% in the second quarter, Holdings Channel.com reports. The fund owned 65,701 shares of the company’s stock after selling 1,350 shares during the period. Boston Family Office LLC’s holdings in General Mills were worth $3,404,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Garde Capital Inc. increased its stake in General Mills by 101.5% in the 2nd quarter. Garde Capital Inc. now owns 524 shares of the company’s stock valued at $27,000 after purchasing an additional 264 shares in the last quarter. GKV Capital Management Co. Inc. purchased a new position in shares of General Mills in the first quarter valued at $34,000. Pingora Partners LLC increased its position in shares of General Mills by 416.7% in the first quarter. Pingora Partners LLC now owns 620 shares of the company’s stock valued at $37,000 after buying an additional 500 shares in the last quarter. Armstrong Advisory Group Inc. acquired a new position in shares of General Mills during the 2nd quarter worth $32,000. Finally, WPG Advisers LLC purchased a new stake in shares of General Mills in the 1st quarter worth about $50,000. Institutional investors and hedge funds own 75.71% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Wall Street Zen upgraded shares of General Mills from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Weiss Ratings reissued a “hold (c-)” rating on shares of General Mills in a research note on Wednesday, October 8th. HSBC reduced their target price on General Mills from $59.00 to $57.00 and set a “hold” rating on the stock in a research note on Thursday, September 18th. Mizuho dropped their price target on General Mills from $57.00 to $52.00 and set a “neutral” rating for the company in a research report on Friday, September 19th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on General Mills from $52.00 to $50.00 and set a “hold” rating on the stock in a research report on Thursday, September 18th. Four analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, General Mills has an average rating of “Hold” and an average target price of $55.82.

General Mills Stock Up 0.9%

GIS opened at $47.60 on Monday. General Mills, Inc. has a 12 month low of $45.80 and a 12 month high of $67.40. The business has a 50-day moving average of $48.24 and a two-hundred day moving average of $50.28. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.66 and a quick ratio of 0.40. The stock has a market capitalization of $25.39 billion, a price-to-earnings ratio of 9.00, a price-to-earnings-growth ratio of 1.17 and a beta of -0.04.

General Mills (NYSE:GIS) last released its earnings results on Wednesday, September 17th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.04. General Mills had a net margin of 15.24% and a return on equity of 23.46%. The business had revenue of $4.52 billion for the quarter, compared to analysts’ expectations of $4.52 billion. During the same period last year, the company earned $1.07 earnings per share. The company’s quarterly revenue was down 6.8% on a year-over-year basis. On average, research analysts expect that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Friday, January 9th will be paid a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, January 9th. This represents a $2.44 annualized dividend and a dividend yield of 5.1%. General Mills’s payout ratio is currently 46.12%.

Insider Activity at General Mills

In related news, insider Jacqueline Williams-Roll sold 4,000 shares of the stock in a transaction on Friday, September 19th. The stock was sold at an average price of $50.04, for a total value of $200,160.00. Following the transaction, the insider directly owned 66,593 shares of the company’s stock, valued at approximately $3,332,313.72. This trade represents a 5.67% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.30% of the stock is currently owned by insiders.

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.