General Mills, Inc. $GIS Shares Sold by Diligent Investors LLC

Diligent Investors LLC trimmed its holdings in General Mills, Inc. (NYSE:GIS) by 33.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,706 shares of the company’s stock after selling 3,389 shares during the quarter. Diligent Investors LLC’s holdings in General Mills were worth $347,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Procyon Advisors LLC acquired a new stake in General Mills in the first quarter worth about $345,000. Perkins Coie Trust Co raised its position in shares of General Mills by 69.2% during the 1st quarter. Perkins Coie Trust Co now owns 516 shares of the company’s stock worth $31,000 after buying an additional 211 shares in the last quarter. UMB Bank n.a. raised its position in shares of General Mills by 16.3% during the 1st quarter. UMB Bank n.a. now owns 24,057 shares of the company’s stock worth $1,438,000 after buying an additional 3,370 shares in the last quarter. Miracle Mile Advisors LLC lifted its stake in shares of General Mills by 4.1% in the 1st quarter. Miracle Mile Advisors LLC now owns 10,903 shares of the company’s stock worth $652,000 after acquiring an additional 430 shares during the period. Finally, City Center Advisors LLC boosted its holdings in shares of General Mills by 3.4% in the first quarter. City Center Advisors LLC now owns 6,071 shares of the company’s stock valued at $363,000 after acquiring an additional 202 shares in the last quarter. Institutional investors own 75.71% of the company’s stock.

General Mills Stock Up 0.1%

GIS stock opened at $50.38 on Friday. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.66 and a quick ratio of 0.40. The firm has a market capitalization of $26.87 billion, a P/E ratio of 9.52, a P/E/G ratio of 1.27 and a beta of -0.03. General Mills, Inc. has a 52-week low of $48.29 and a 52-week high of $73.78. The company’s 50 day simple moving average is $49.73 and its 200-day simple moving average is $53.01.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, September 17th. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. General Mills had a net margin of 15.24% and a return on equity of 23.46%. The firm had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.52 billion. During the same quarter last year, the business posted $1.07 EPS. The company’s revenue was down 6.8% on a year-over-year basis. As a group, equities research analysts anticipate that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be paid a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Friday, October 10th. General Mills’s dividend payout ratio is currently 46.12%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on GIS shares. UBS Group dropped their target price on General Mills from $49.00 to $47.00 and set a “sell” rating on the stock in a report on Thursday, September 18th. Wall Street Zen raised General Mills from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. Bernstein Bank decreased their target price on General Mills from $55.00 to $54.00 and set a “market perform” rating for the company in a research note on Thursday, September 18th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $45.00 target price (down from $53.00) on shares of General Mills in a report on Wednesday, August 20th. Finally, Royal Bank Of Canada raised shares of General Mills from a “sector perform” rating to an “outperform” rating and cut their price target for the company from $67.00 to $63.00 in a report on Thursday, June 26th. Four equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, General Mills has a consensus rating of “Hold” and an average price target of $55.82.

Insider Transactions at General Mills

In other General Mills news, insider Jacqueline Williams-Roll sold 4,000 shares of the firm’s stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $50.04, for a total transaction of $200,160.00. Following the completion of the sale, the insider directly owned 66,593 shares in the company, valued at approximately $3,332,313.72. This trade represents a 5.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.30% of the company’s stock.

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.