General Mills, Inc. (NYSE:GIS) Shares Sold by Truvestments Capital LLC

Truvestments Capital LLC trimmed its position in shares of General Mills, Inc. (NYSE:GIS) by 16.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,761 shares of the company’s stock after selling 950 shares during the period. Truvestments Capital LLC’s holdings in General Mills were worth $333,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of GIS. MeadowBrook Investment Advisors LLC acquired a new position in shares of General Mills in the fourth quarter valued at approximately $27,000. Rise Advisors LLC grew its position in shares of General Mills by 199.3% during the first quarter. Rise Advisors LLC now owns 410 shares of the company’s stock worth $29,000 after buying an additional 273 shares in the last quarter. Capital Advisors Ltd. LLC increased its stake in shares of General Mills by 409.8% during the first 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 period. Fortis Group Advisors LLC raised its holdings in General Mills by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 458 shares of the company’s stock valued at $30,000 after acquiring an additional 229 shares in the last quarter. Finally, RFP Financial Group LLC lifted its stake in General Mills by 66.3% in the first quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock worth $30,000 after acquiring an additional 173 shares during the last quarter. 75.71% of the stock is owned by institutional investors and hedge funds.

General Mills Stock Performance

Shares of NYSE GIS traded up $0.49 during mid-day trading on Friday, hitting $66.32. 2,548,167 shares of the company were exchanged, compared to its average volume of 3,574,117. The stock has a 50 day simple moving average of $65.84 and a 200-day simple moving average of $66.53. General Mills, Inc. has a 1-year low of $60.33 and a 1-year high of $76.15. 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 market cap of $37.02 billion, a price-to-earnings ratio of 15.39, a price-to-earnings-growth ratio of 3.72 and a beta of 0.09.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, June 26th. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.02. The business had revenue of $4.71 billion for the quarter, compared to the consensus estimate of $4.85 billion. General Mills had a net margin of 12.57% and a return on equity of 26.56%. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.12 earnings per share. On average, sell-side analysts forecast that General Mills, Inc. will post 4.49 EPS for the current fiscal year.

General Mills Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date 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 55.68%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on GIS. Stifel Nicolaus decreased their price objective on shares of General Mills from $77.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, June 27th. Citigroup dropped their price objective on General Mills from $71.00 to $68.00 and set a “neutral” rating on the stock in a report on Thursday, June 27th. Argus restated a “hold” rating on shares of General Mills in a research note on Tuesday, July 16th. Bank of America lowered their price target on General Mills from $70.00 to $68.00 and set a “neutral” rating for the company in a report on Thursday, June 27th. Finally, Sanford C. Bernstein upgraded shares of General Mills from an “underperform” rating to a “market perform” rating and boosted their price objective for the stock from $62.00 to $70.00 in a research report on Wednesday, May 15th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $68.82.

Insider Activity at General Mills

In related news, insider Werner Lanette Shaffer sold 710 shares of General Mills stock in a transaction on Monday, May 13th. The stock was sold at an average price of $70.57, for a total transaction of $50,104.70. Following the completion of the transaction, the insider now directly owns 17,397 shares of the company’s stock, valued at $1,227,706.29. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.24% of the company’s stock.

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.