Douglas Lane & Associates LLC Sells 2,651 Shares of General Mills, Inc. (NYSE:GIS)

Douglas Lane & Associates LLC trimmed its stake in General Mills, Inc. (NYSE:GIS) by 27.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,059 shares of the company’s stock after selling 2,651 shares during the period. Douglas Lane & Associates LLC’s holdings in General Mills were worth $447,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of GIS. MeadowBrook Investment Advisors LLC purchased a new stake in shares of General Mills during the fourth quarter valued at approximately $27,000. Rise Advisors LLC increased its holdings in General Mills by 199.3% in the 1st 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 holdings in General Mills by 409.8% in the 1st quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock worth $29,000 after buying an additional 336 shares in the last quarter. Fortis Group Advisors LLC increased its holdings in General Mills by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 458 shares of the company’s stock worth $30,000 after buying an additional 229 shares in the last quarter. Finally, RFP Financial Group LLC grew its stake in shares of General Mills by 66.3% during the 1st quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock valued at $30,000 after purchasing an additional 173 shares during the period. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Analyst Ratings Changes

GIS has been the subject of a number of recent research reports. JPMorgan Chase & Co. cut their price objective on General Mills from $70.00 to $63.00 and set a “neutral” rating for the company in a research note on Thursday, June 27th. Barclays decreased 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. Bank of America decreased their price target on General Mills from $70.00 to $68.00 and set a “neutral” rating on the stock in a report on Thursday, June 27th. Royal Bank of Canada restated a “sector perform” rating and set a $70.00 price target on shares of General Mills in a report on Thursday, June 27th. Finally, 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 research report on Friday, June 28th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $68.82.

Insider Buying and Selling

In other General Mills news, insider Werner Lanette Shaffer sold 710 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $70.57, for a total value of $50,104.70. Following the completion of the sale, the insider now directly owns 17,397 shares in the company, valued at $1,227,706.29. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.24% of the stock is currently owned by company insiders.

General Mills Stock Down 0.5 %

Shares of NYSE GIS traded down $0.35 during mid-day trading on Tuesday, reaching $67.93. 3,475,484 shares of the company were exchanged, compared to its average volume of 4,101,174. 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 stock has a market cap of $37.91 billion, a price-to-earnings ratio of 15.76, a P/E/G ratio of 3.83 and a beta of 0.09. General Mills, Inc. has a 1 year low of $60.33 and a 1 year high of $74.45. The firm has a 50-day moving average of $65.62 and a 200 day moving average of $66.75.

General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, June 26th. The company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.02. The firm had revenue of $4.71 billion during the quarter, compared to analysts’ expectations of $4.85 billion. General Mills had a return on equity of 26.56% and a net margin of 12.57%. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.12 EPS. On average, research analysts expect that General Mills, Inc. will post 4.49 earnings per share for the current year.

General Mills Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were paid a dividend of $0.60 per share. This is a boost from General Mills’s previous quarterly dividend of $0.59. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date was Wednesday, July 10th. General Mills’s dividend payout ratio is 55.68%.

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.