PSI Advisors LLC Sells 2,299 Shares of General Mills, Inc. (NYSE:GIS)

PSI Advisors LLC reduced its holdings in shares of General Mills, Inc. (NYSE:GIS) by 69.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,034 shares of the company’s stock after selling 2,299 shares during the period. PSI Advisors LLC’s holdings in General Mills were worth $65,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cetera Trust Company N.A bought a new stake in General Mills during the 4th quarter valued at $50,000. Optimist Retirement Group LLC bought a new stake in General Mills during the 4th quarter valued at $1,171,000. State Board of Administration of Florida Retirement System raised its position in General Mills by 5.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 688,543 shares of the company’s stock valued at $48,177,000 after purchasing an additional 38,021 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in General Mills by 16.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 696,170 shares of the company’s stock valued at $48,711,000 after purchasing an additional 96,712 shares in the last quarter. Finally, Apollon Wealth Management LLC raised its position in General Mills by 122.7% during the 4th quarter. Apollon Wealth Management LLC now owns 23,675 shares of the company’s stock valued at $1,542,000 after purchasing an additional 13,043 shares in the last quarter. 75.71% of the stock is owned by institutional investors.

General Mills Stock Up 0.0 %

Shares of GIS stock opened at $70.66 on Friday. General Mills, Inc. has a 1-year low of $60.33 and a 1-year high of $74.45. The stock’s fifty day moving average price is $66.23 and its 200 day moving average price is $67.17. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.65 and a quick ratio of 0.38. The company has a market cap of $39.44 billion, a price-to-earnings ratio of 16.39, a price-to-earnings-growth ratio of 3.83 and a beta of 0.09.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, June 26th. The company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.02. General Mills had a return on equity of 26.56% and a net margin of 12.57%. The firm had revenue of $4.71 billion for the quarter, compared to the consensus estimate of $4.85 billion. During the same period in the previous year, the business earned $1.12 EPS. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, research analysts expect that General Mills, Inc. will post 4.49 earnings per share for the current fiscal 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 paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend was Wednesday, July 10th. This is an increase from General Mills’s previous quarterly dividend of $0.59. General Mills’s payout ratio is presently 55.68%.

Analyst Upgrades and Downgrades

GIS has been the subject of a number of research analyst reports. Argus reaffirmed a “hold” rating on shares of General Mills in a research report on Tuesday, July 16th. JPMorgan Chase & Co. decreased their target price on General Mills from $70.00 to $63.00 and set a “neutral” rating for the company in a research report on Thursday, June 27th. Wells Fargo & Company reduced their price target 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. Barclays reduced their price target on General Mills from $72.00 to $67.00 and set an “equal weight” rating for the company in a research report on Friday, June 28th. Finally, Stifel Nicolaus reduced their price target on General Mills from $77.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price 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.