Ingalls & Snyder LLC Sells 1,060 Shares of General Mills, Inc. (NYSE:GIS)

Ingalls & Snyder LLC decreased its position in shares of General Mills, Inc. (NYSE:GIS) by 4.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,784 shares of the company’s stock after selling 1,060 shares during the period. Ingalls & Snyder LLC’s holdings in General Mills were worth $1,505,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. MeadowBrook Investment Advisors LLC acquired a new position in shares of General Mills during the 4th quarter worth about $27,000. Rise Advisors LLC increased its position 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 during the period. Capital Advisors Ltd. LLC lifted its holdings 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 last quarter. Fortis Group Advisors LLC boosted its position in shares of 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 during the period. Finally, RFP Financial Group LLC grew its stake in shares of 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 currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on GIS. Evercore ISI cut their target price on shares of General Mills from $76.00 to $72.00 and set an “in-line” rating for the company in a research note on Friday, June 28th. Barclays reduced their target price on shares of General Mills from $72.00 to $67.00 and set an “equal weight” rating for the company in a research note on Friday, June 28th. JPMorgan Chase & Co. lowered their price target on General Mills from $70.00 to $63.00 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. Wells Fargo & Company reduced their price objective on General Mills from $70.00 to $67.00 and set an “equal weight” rating for the company in a research report on Thursday, June 27th. Finally, Bank of America lowered their price objective on General Mills from $70.00 to $68.00 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $69.71.

General Mills Trading Up 1.3 %

GIS traded up $0.93 during trading on Friday, reaching $72.29. 3,645,786 shares of the company’s stock were exchanged, compared to its average volume of 3,954,824. The company’s fifty day moving average price is $66.81 and its 200-day moving average price is $67.49. The firm has a market capitalization of $40.35 billion, a PE ratio of 16.77, a P/E/G ratio of 3.83 and a beta of 0.09. General Mills, Inc. has a fifty-two week low of $60.33 and a fifty-two week high of $74.45. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.38 and a current ratio of 0.65.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, June 26th. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.02. The business 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.12 earnings per share. As a group, equities analysts forecast that General Mills, Inc. will post 4.49 EPS for the current year.

General Mills Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were paid a $0.60 dividend. The ex-dividend date was Wednesday, July 10th. 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 3.32%. General Mills’s dividend payout ratio is 55.68%.

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.