General Mills, Inc. (NYSE:GIS) Shares Sold by Tyche Wealth Partners LLC

Tyche Wealth Partners LLC lessened its stake in General Mills, Inc. (NYSE:GIS) by 5.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,608 shares of the company’s stock after selling 314 shares during the quarter. Tyche Wealth Partners LLC’s holdings in General Mills were worth $355,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Brookstone Capital Management boosted its position in General Mills by 4.0% in the 2nd quarter. Brookstone Capital Management now owns 13,413 shares of the company’s stock worth $876,000 after purchasing an additional 511 shares in the last quarter. Blue Trust Inc. boosted its holdings in General Mills by 48.5% during the second quarter. Blue Trust Inc. now owns 8,476 shares of the company’s stock worth $593,000 after buying an additional 2,769 shares in the last quarter. TruNorth Capital Management LLC acquired a new stake in General Mills during the second quarter valued at $38,000. Kennedy Investment Group increased its holdings in General Mills by 1.7% in the second quarter. Kennedy Investment Group now owns 35,390 shares of the company’s stock valued at $2,239,000 after buying an additional 577 shares in the last quarter. Finally, Ellsworth Advisors LLC acquired a new position in shares of General Mills in the second quarter worth about $4,453,000. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. dropped their target price on General Mills from $70.00 to $63.00 and set a “neutral” rating on the stock 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. Bank of America reduced 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. Royal Bank of Canada reissued a “sector perform” rating and issued a $70.00 price target on shares of General Mills in a research note on Thursday, June 27th. Finally, Argus restated a “hold” rating on shares of General Mills in a research report on Tuesday, July 16th. 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 stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $69.71.

General Mills Price Performance

Shares of General Mills stock traded up $0.28 on Friday, hitting $69.03. 2,320,963 shares of the company were exchanged, compared to its average volume of 4,033,532. General Mills, Inc. has a 1-year low of $60.33 and a 1-year high of $74.45. 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 capitalization of $38.53 billion, a price-to-earnings ratio of 16.02, a price-to-earnings-growth ratio of 3.83 and a beta of 0.09. The company has a 50-day moving average price of $65.90 and a 200 day moving average price of $67.03.

General Mills (NYSE:GIS) last released 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. 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 analyst estimates of $4.85 billion. During the same quarter in the previous year, the company posted $1.12 earnings per share. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, sell-side analysts predict that General Mills, Inc. will post 4.49 earnings per share for the current fiscal year.

General Mills Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were paid a dividend of $0.60 per share. The ex-dividend date was Wednesday, July 10th. This is an increase from General Mills’s previous quarterly dividend of $0.59. This represents a $2.40 dividend on an annualized basis and a yield of 3.48%. General Mills’s 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 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.