General Mills, Inc. (GIS) Shares Sold by Ipswich Investment Management Co. Inc.

Ipswich Investment Management Co. Inc. reduced its stake in shares of General Mills, Inc. (NYSE:GIS) by 4.9% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 9,766 shares of the company’s stock after selling 500 shares during the period. Ipswich Investment Management Co. Inc.’s holdings in General Mills were worth $541,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Lenox Wealth Advisors Inc. boosted its position in shares of General Mills by 0.8% in the second quarter. Lenox Wealth Advisors Inc. now owns 1,833 shares of the company’s stock valued at $102,000 after buying an additional 15 shares during the last quarter. Cribstone Capital Management LLC boosted its position in shares of General Mills by 275.6% in the first quarter. Cribstone Capital Management LLC now owns 2,017 shares of the company’s stock valued at $116,000 after buying an additional 1,480 shares during the last quarter. Commonwealth Financial Services LLC boosted its position in shares of General Mills by 1,239.8% in the first quarter. Commonwealth Financial Services LLC now owns 2,224 shares of the company’s stock valued at $130,000 after buying an additional 2,058 shares during the last quarter. Hanson McClain Inc. boosted its position in shares of General Mills by 1.5% in the first quarter. Hanson McClain Inc. now owns 2,346 shares of the company’s stock valued at $138,000 after buying an additional 35 shares during the last quarter. Finally, Winslow Evans & Crocker Inc. boosted its position in shares of General Mills by 2.9% in the second quarter. Winslow Evans & Crocker Inc. now owns 2,461 shares of the company’s stock valued at $136,000 after buying an additional 69 shares during the last quarter. Institutional investors and hedge funds own 70.97% of the company’s stock.

Shares of General Mills, Inc. (GIS) traded down 0.435% during trading on Tuesday, hitting $56.135. 1,126,985 shares of the stock were exchanged. The stock has a market cap of $32.40 billion, a P/E ratio of 20.265 and a beta of 0.61. The stock has a 50-day moving average of $55.28 and a 200 day moving average of $58.21. General Mills, Inc. has a 12-month low of $53.24 and a 12-month high of $71.96.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, June 28th. The company reported $0.73 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.02. General Mills had a net margin of 10.61% and a return on equity of 38.97%. The company had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.75 billion. During the same period in the prior year, the company earned $0.66 EPS. General Mills’s revenue was down 3.1% on a year-over-year basis. Equities analysts predict that General Mills, Inc. will post $3.11 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 3.48%. This is an increase from General Mills’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Thursday, July 6th. General Mills’s dividend payout ratio is presently 70.76%.

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A number of analysts recently weighed in on GIS shares. UBS AG reiterated a “neutral” rating and set a $61.00 price target (down previously from $63.00) on shares of General Mills in a research note on Wednesday, June 21st. Piper Jaffray Companies set a $56.00 price target on shares of General Mills and gave the stock a “sell” rating in a research note on Monday. BidaskClub upgraded shares of General Mills from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Susquehanna Bancshares Inc set a $59.00 price target on shares of General Mills and gave the stock a “hold” rating in a research note on Sunday, June 25th. Finally, Bank of America Corporation reiterated a “neutral” rating and set a $61.00 price target (down previously from $63.00) on shares of General Mills in a research note on Sunday, June 25th. Six equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have issued a buy rating to the company’s stock. General Mills has an average rating of “Hold” and an average target price of $59.93.

General Mills Company Profile

General Mills, Inc is a manufacturer and marketer of branded consumer foods sold through retail stores. The Company is a supplier of branded and unbranded food products to the North American foodservice and commercial baking industries. The Company has three segments: U.S. Retail, International, and Convenience Stores and Foodservice.

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Institutional Ownership by Quarter for General Mills (NYSE:GIS)

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