Northeast Investment Management Has $571,000 Stock Position in General Mills, Inc. $GIS

Northeast Investment Management lowered its stake in General Mills, Inc. (NYSE:GIS) by 6.8% during the second quarter, Holdings Channel reports. The institutional investor owned 11,030 shares of the company’s stock after selling 809 shares during the period. Northeast Investment Management’s holdings in General Mills were worth $571,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Cidel Asset Management Inc. grew its stake in General Mills by 5.3% in the 2nd quarter. Cidel Asset Management Inc. now owns 8,374 shares of the company’s stock valued at $434,000 after buying an additional 425 shares during the last quarter. Chicago Partners Investment Group LLC grew its stake in General Mills by 8.8% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 4,810 shares of the company’s stock valued at $247,000 after buying an additional 391 shares during the last quarter. Dumont & Blake Investment Advisors LLC grew its stake in General Mills by 50.7% in the 2nd quarter. Dumont & Blake Investment Advisors LLC now owns 27,841 shares of the company’s stock valued at $1,442,000 after buying an additional 9,370 shares during the last quarter. TrueMark Investments LLC grew its stake in General Mills by 10.2% in the 2nd quarter. TrueMark Investments LLC now owns 97,759 shares of the company’s stock valued at $5,065,000 after buying an additional 9,088 shares during the last quarter. Finally, Stratos Wealth Partners LTD. grew its stake in General Mills by 5.8% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 10,780 shares of the company’s stock valued at $559,000 after buying an additional 592 shares during the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

Analysts Set New Price Targets

GIS has been the topic of a number of research reports. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $45.00 price target (down previously from $53.00) on shares of General Mills in a research note on Wednesday, August 20th. Barclays decreased their target price on shares of General Mills from $54.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Friday, September 19th. Wall Street Zen upgraded shares of General Mills from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Bernstein Bank decreased their target price on shares of General Mills from $55.00 to $54.00 and set a “market perform” rating on the stock in a research report on Thursday, September 18th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of General Mills in a research report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $55.82.

General Mills Stock Performance

Shares of General Mills stock opened at $48.48 on Monday. The company has a 50 day moving average of $49.65 and a 200-day moving average of $52.26. General Mills, Inc. has a 1-year low of $47.48 and a 1-year high of $70.60. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28. The company has a market cap of $25.86 billion, a PE ratio of 9.16, a price-to-earnings-growth ratio of 1.22 and a beta of -0.03.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, September 17th. The company reported $0.86 earnings per share 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 company had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.52 billion. During the same quarter in the prior year, the firm posted $1.07 EPS. The firm’s quarterly revenue was down 6.8% on a year-over-year basis. As a group, equities research analysts forecast that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend is Friday, October 10th. General Mills’s dividend payout ratio is 46.12%.

Insider Buying and Selling at General Mills

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

About General Mills

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.