Coastline Trust Co Lowers Stake in General Mills, Inc. (NYSE:GIS)

Coastline Trust Co reduced its holdings in shares of General Mills, Inc. (NYSE:GIS) by 13.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,160 shares of the company’s stock after selling 790 shares during the period. Coastline Trust Co’s holdings in General Mills were worth $326,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Czech National Bank lifted its position in General Mills by 7.7% during the 2nd quarter. Czech National Bank now owns 107,581 shares of the company’s stock valued at $6,806,000 after acquiring an additional 7,660 shares during the period. Atlas Private Wealth Advisors bought a new stake in General Mills during the 2nd quarter valued at about $256,000. QRG Capital Management Inc. increased its stake in General Mills by 4.1% during the 2nd quarter. QRG Capital Management Inc. now owns 356,940 shares of the company’s stock valued at $22,580,000 after purchasing an additional 13,909 shares in the last quarter. Cardinal Capital Management increased its stake in General Mills by 0.7% during the 2nd quarter. Cardinal Capital Management now owns 115,623 shares of the company’s stock valued at $7,314,000 after purchasing an additional 856 shares in the last quarter. Finally, Manning & Napier Advisors LLC bought a new stake in General Mills during the 2nd quarter valued at about $13,321,000. 75.71% of the stock is owned by hedge funds and other institutional investors.

General Mills Stock Performance

NYSE GIS traded down $0.45 during trading hours on Monday, hitting $68.67. 685,818 shares of the company’s stock traded hands, compared to its average volume of 4,046,820. The business’s fifty day moving average price is $65.75 and its two-hundred day moving average price is $66.89. The company has a current ratio of 0.65, a quick ratio of 0.38 and a debt-to-equity ratio of 1.17. The firm has a market capitalization of $38.33 billion, a P/E ratio of 16.04, a P/E/G ratio of 3.83 and a beta of 0.09. General Mills, Inc. has a 52 week low of $60.33 and a 52 week high of $74.45.

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

General Mills Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were issued a dividend of $0.60 per share. The ex-dividend date was Wednesday, July 10th. This represents a $2.40 annualized dividend and a yield of 3.49%. This is an increase from General Mills’s previous quarterly dividend of $0.59. General Mills’s payout ratio is currently 55.68%.

Wall Street Analysts Forecast Growth

GIS has been the subject of a number of analyst reports. The Goldman Sachs Group initiated coverage on shares of General Mills in a research note on Monday. They set a “buy” rating and a $76.00 price objective for the company. Royal Bank of Canada restated a “sector perform” rating and set a $70.00 price objective on shares of General Mills in a research note on Thursday, June 27th. Wells Fargo & Company reduced their price objective on shares of General Mills from $70.00 to $67.00 and set an “equal weight” rating for the company in a research note on Thursday, June 27th. Bank of America reduced their price objective on shares of General Mills from $70.00 to $68.00 and set a “neutral” rating for the company in a research note on Thursday, June 27th. Finally, Sanford C. Bernstein upgraded shares of General Mills from an “underperform” rating to a “market perform” rating and lifted their price target for the stock from $62.00 to $70.00 in a research note on Wednesday, May 15th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, General Mills presently has a consensus rating of “Hold” and a consensus price target of $69.71.

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.