MV Capital Management Inc. Reduces Stock Position in General Mills, Inc. (NYSE:GIS)

MV Capital Management Inc. lessened its holdings in General Mills, Inc. (NYSE:GIS) by 88.3% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,867 shares of the company’s stock after selling 21,646 shares during the quarter. MV Capital Management Inc.’s holdings in General Mills were worth $201,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Traverso Chambers Private Wealth Management LLC increased its stake in General Mills by 1.0% in the 4th quarter. Traverso Chambers Private Wealth Management LLC now owns 16,156 shares of the company’s stock worth $1,052,000 after buying an additional 156 shares during the period. Park Place Capital Corp raised its stake in shares of General Mills by 40.6% during the first quarter. Park Place Capital Corp now owns 540 shares of the company’s stock valued at $38,000 after acquiring an additional 156 shares in the last quarter. Nicholas Hoffman & Company LLC. boosted its holdings in shares of General Mills by 2.9% in the fourth quarter. Nicholas Hoffman & Company LLC. now owns 5,866 shares of the company’s stock valued at $382,000 after purchasing an additional 164 shares during the period. Gulf International Bank UK Ltd grew its stake in General Mills by 0.3% in the first quarter. Gulf International Bank UK Ltd now owns 48,176 shares of the company’s stock worth $3,370,000 after purchasing an additional 165 shares in the last quarter. Finally, Berger Financial Group Inc increased its holdings in General Mills by 2.5% during the 4th quarter. Berger Financial Group Inc now owns 6,937 shares of the company’s stock worth $452,000 after purchasing an additional 168 shares during the period. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on GIS shares. JPMorgan Chase & Co. dropped their price target on General Mills from $70.00 to $63.00 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. TD Cowen boosted their price target on shares of General Mills from $68.00 to $70.00 and gave the company a “market perform” rating in a report on Thursday, March 21st. Barclays dropped their price objective on shares of General Mills from $72.00 to $67.00 and set an “equal weight” rating on the stock in a research note on Friday, June 28th. Sanford C. Bernstein raised shares of General Mills from an “underperform” rating to a “market perform” rating and boosted their price objective for the stock from $62.00 to $70.00 in a research note on Wednesday, May 15th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 target price on shares of General Mills in a research report on Thursday, June 27th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, General Mills has an average rating of “Hold” and an average price target of $70.44.

Insider Activity

In related news, insider Werner Lanette Shaffer sold 710 shares of General Mills stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $70.57, for a total transaction of $50,104.70. Following the completion of the sale, the insider now owns 17,397 shares of the company’s stock, valued at $1,227,706.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.24% of the company’s stock.

General Mills Stock Performance

Shares of General Mills stock opened at $63.17 on Wednesday. The firm has a market capitalization of $35.26 billion, a P/E ratio of 14.66, a PEG ratio of 3.57 and a beta of 0.09. General Mills, Inc. has a 52 week low of $60.33 and a 52 week high of $77.63. The company has a quick ratio of 0.38, a current ratio of 0.65 and a debt-to-equity ratio of 1.17. The company has a 50 day moving average price of $68.35 and a 200 day moving average price of $66.72.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, June 26th. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.02. The business had revenue of $4.71 billion during the quarter, compared to analysts’ expectations of $4.85 billion. General Mills had a net margin of 12.57% and a return on equity of 26.56%. The business’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the company posted $1.12 earnings per share. Sell-side analysts expect that General Mills, Inc. will post 4.5 EPS for the current year.

General Mills Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.80%. The ex-dividend date is Wednesday, July 10th. This is an increase from General Mills’s previous quarterly dividend of $0.59. General Mills’s payout ratio is presently 54.76%.

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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.