King Luther Capital Management Corp Sells 339 Shares of General Mills, Inc. (NYSE:GIS)

King Luther Capital Management Corp trimmed its holdings in shares of General Mills, Inc. (NYSE:GIS) by 0.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 124,014 shares of the company’s stock after selling 339 shares during the period. King Luther Capital Management Corp’s holdings in General Mills were worth $9,512,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in GIS. Disciplined Investments LLC raised its stake in General Mills by 245.9% in the 1st quarter. Disciplined Investments LLC now owns 294 shares of the company’s stock valued at $25,000 after acquiring an additional 209 shares during the period. FWL Investment Management LLC bought a new stake in General Mills in the 4th quarter valued at about $25,000. Almanack Investment Partners LLC. purchased a new position in General Mills during the 3rd quarter valued at about $28,000. Impact Partnership Wealth LLC purchased a new position in General Mills during the 2nd quarter valued at about $30,000. Finally, RFP Financial Group LLC grew its holdings in General Mills by 573.8% during the 2nd quarter. RFP Financial Group LLC now owns 411 shares of the company’s stock valued at $32,000 after buying an additional 350 shares in the last quarter. 75.31% of the stock is currently owned by institutional investors.

General Mills Stock Performance

NYSE:GIS opened at $64.13 on Tuesday. The business has a 50 day moving average of $64.46 and a 200 day moving average of $72.91. The company has a market capitalization of $37.28 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 2.17 and a beta of 0.27. General Mills, Inc. has a 1-year low of $60.33 and a 1-year high of $90.89. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.72 and a quick ratio of 0.41.

General Mills (NYSE:GIS) last released its earnings results on Wednesday, September 20th. The company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. General Mills had a return on equity of 24.39% and a net margin of 12.07%. The company had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.88 billion. During the same quarter in the previous year, the company posted $1.11 EPS. General Mills’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, sell-side analysts predict that General Mills, Inc. will post 4.48 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be given a $0.59 dividend. The ex-dividend date is Tuesday, January 9th. This represents a $2.36 annualized dividend and a yield of 3.68%. General Mills’s payout ratio is currently 57.56%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on GIS shares. HSBC started coverage on General Mills in a report on Friday, September 22nd. They set a “hold” rating and a $74.00 target price for the company. The Goldman Sachs Group reduced their target price on General Mills from $70.00 to $61.00 and set a “sell” rating for the company in a report on Wednesday, September 20th. Piper Sandler reduced their target price on General Mills from $88.00 to $77.00 and set an “overweight” rating for the company in a report on Monday, September 18th. TD Cowen started coverage on General Mills in a report on Wednesday, September 13th. They set a “market perform” rating and a $70.00 price objective for the company. Finally, JPMorgan Chase & Co. cut their price objective on General Mills from $71.00 to $69.00 and set a “neutral” rating for the company in a report on Monday, September 18th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, General Mills has an average rating of “Hold” and a consensus price target of $74.94.

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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.