Raymond James Trust N.A. Boosts Stock Holdings in General Mills, Inc. (NYSE:GIS)

Raymond James Trust N.A. raised its stake in shares of General Mills, Inc. (NYSE:GIS) by 0.3% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 154,087 shares of the company’s stock after purchasing an additional 494 shares during the period. Raymond James Trust N.A.’s holdings in General Mills were worth $9,748,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. MeadowBrook Investment Advisors LLC bought a new position in General Mills during the fourth quarter valued at approximately $27,000. Rise Advisors LLC boosted its position in shares of General Mills by 199.3% during the 1st quarter. Rise Advisors LLC now owns 410 shares of the company’s stock valued at $29,000 after acquiring an additional 273 shares during the last quarter. Capital Advisors Ltd. LLC grew its holdings in shares of General Mills by 409.8% in the first quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock valued at $29,000 after purchasing an additional 336 shares in the last quarter. RFP Financial Group LLC increased its position in 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 purchasing an additional 173 shares during the last quarter. Finally, Perkins Coie Trust Co raised its stake in General Mills by 769.2% during the first quarter. Perkins Coie Trust Co now owns 452 shares of the company’s stock valued at $32,000 after purchasing an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on GIS. Barclays dropped their price objective 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. Evercore ISI reduced their price objective on General Mills from $76.00 to $72.00 and set an “in-line” rating on the stock in a research note on Friday, June 28th. The Goldman Sachs Group initiated coverage on General Mills in a research note on Monday, August 12th. They issued a “buy” rating and a $76.00 price objective for the company. Stifel Nicolaus cut their target price on General Mills from $77.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, June 27th. Finally, Bank of America lowered their price target on General Mills from $70.00 to $68.00 and set a “neutral” 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 issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $69.71.

General Mills Trading Up 0.2 %

GIS stock traded up $0.16 during trading on Friday, hitting $70.83. The company had a trading volume of 1,957,481 shares, compared to its average volume of 3,995,006. The firm has a market capitalization of $39.53 billion, a P/E ratio of 16.43, a PEG ratio of 3.83 and a beta of 0.09. The company has a quick ratio of 0.38, a current ratio of 0.65 and a debt-to-equity ratio of 1.17. General Mills, Inc. has a 52-week low of $60.33 and a 52-week high of $74.45. The company has a 50 day simple moving average of $66.33 and a 200-day simple moving average of $67.26.

General Mills (NYSE:GIS) last issued its earnings results 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 for the quarter, compared to analyst estimates of $4.85 billion. General Mills had a net margin of 12.57% and a return on equity of 26.56%. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period last year, the company posted $1.12 earnings per share. As a group, research analysts forecast 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 issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.39%. This is a boost from General Mills’s previous quarterly dividend of $0.59. The ex-dividend date was Wednesday, July 10th. General Mills’s dividend payout ratio is currently 55.68%.

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.