General Mills, Inc. (NYSE:GIS) Shares Sold by Delaney Dennis R

Delaney Dennis R reduced its holdings in General Mills, Inc. (NYSE:GIS) by 13.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,750 shares of the company’s stock after selling 2,000 shares during the quarter. Delaney Dennis R’s holdings in General Mills were worth $892,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its holdings in shares of General Mills by 17.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,220,646 shares of the company’s stock worth $142,099,000 after purchasing an additional 328,585 shares during the period. Sei Investments Co. raised its holdings in shares of General Mills by 9.2% in the 3rd quarter. Sei Investments Co. now owns 253,379 shares of the company’s stock worth $16,215,000 after purchasing an additional 21,299 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of General Mills by 2.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 417,791 shares of the company’s stock worth $26,734,000 after purchasing an additional 9,167 shares during the period. Morgan Stanley raised its holdings in shares of General Mills by 0.3% in the 3rd quarter. Morgan Stanley now owns 8,242,274 shares of the company’s stock worth $527,423,000 after purchasing an additional 23,400 shares during the period. Finally, Creative Planning raised its holdings in shares of General Mills by 59.2% in the 3rd quarter. Creative Planning now owns 186,420 shares of the company’s stock worth $11,929,000 after purchasing an additional 69,357 shares during the period. 75.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on GIS. Barclays cut their price objective on General Mills from $72.00 to $67.00 and set an “equal weight” rating on the stock in a report on Friday, June 28th. Evercore ISI cut their price objective on General Mills from $76.00 to $72.00 and set an “in-line” rating on the stock in a report on Friday, June 28th. Mizuho lowered their target price on General Mills from $70.00 to $62.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $70.00 target price on shares of General Mills in a research note on Thursday, June 27th. Finally, Bank of America lowered their target price on General Mills from $70.00 to $68.00 and set a “neutral” rating for the company in a research note on Thursday, June 27th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $70.00.

Insider Buying and Selling

In related news, insider Werner Lanette Shaffer sold 710 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $70.57, for a total value of $50,104.70. Following the sale, the insider now owns 17,397 shares of the company’s stock, valued at approximately $1,227,706.29. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.24% of the company’s stock.

General Mills Stock Performance

NYSE:GIS traded up $0.51 during trading hours on Thursday, reaching $63.17. 3,374,902 shares of the stock were exchanged, compared to its average volume of 4,157,067. 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 firm has a 50 day simple moving average of $67.10 and a 200-day simple moving average of $66.57. General Mills, Inc. has a 52 week low of $60.33 and a 52 week high of $77.63. The stock has a market capitalization of $35.26 billion, a P/E ratio of 14.66, a P/E/G ratio of 3.53 and a beta of 0.09.

General Mills (NYSE:GIS) last released its earnings results on Wednesday, June 26th. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.02. General Mills had a return on equity of 26.56% and a net margin of 12.57%. The company had revenue of $4.71 billion for the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter last year, the business posted $1.12 EPS. General Mills’s quarterly revenue was down 6.3% compared to the same quarter last year. As a group, sell-side analysts forecast that General Mills, Inc. will post 4.5 earnings per share for the current fiscal year.

General Mills Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date of this dividend is Wednesday, July 10th. This is an increase from General Mills’s previous quarterly dividend of $0.59. General Mills’s dividend payout ratio (DPR) is currently 54.76%.

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