SeaCrest Wealth Management LLC Sells 396 Shares of General Mills, Inc. (NYSE:GIS)

SeaCrest Wealth Management LLC reduced its position in shares of General Mills, Inc. (NYSE:GIS) by 7.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,083 shares of the company’s stock after selling 396 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in General Mills were worth $356,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cetera Trust Company N.A bought a new stake in General Mills during the 4th quarter valued at $50,000. Bruce G. Allen Investments LLC bought a new stake in General Mills during the 4th quarter valued at $28,000. Optimist Retirement Group LLC bought a new stake in General Mills during the 4th quarter valued at $1,171,000. Apollon Wealth Management LLC raised its holdings 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 buying an additional 13,043 shares during the last quarter. Finally, Sabal Trust CO raised its holdings in General Mills by 7,817.6% during the 4th quarter. Sabal Trust CO now owns 290,179 shares of the company’s stock valued at $18,902,000 after buying an additional 286,514 shares during the last quarter. 75.71% of the stock is currently owned by institutional investors.

General Mills Stock Performance

Shares of GIS stock opened at $63.07 on Thursday. General Mills, Inc. has a one year low of $60.33 and a one year high of $77.63. The company’s 50-day moving average is $68.20 and its 200 day moving average is $66.70. The company has a market capitalization of $35.20 billion, a price-to-earnings ratio of 14.63, a price-to-earnings-growth ratio of 3.57 and a beta of 0.09. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.38 and a current ratio of 0.65.

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

General Mills Increases Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $2.40 annualized dividend and a yield of 3.81%. This is a boost from General Mills’s previous quarterly dividend of $0.59. General Mills’s dividend payout ratio is currently 55.68%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on GIS shares. HSBC upped their price objective on shares of General Mills from $74.00 to $76.00 and gave the stock a “hold” rating in a report on Thursday, March 21st. Bank of America decreased their price objective on shares of General Mills from $70.00 to $68.00 and set a “neutral” rating for the company in a report on Thursday, June 27th. Morgan Stanley upped their price objective on shares of General Mills from $58.00 to $61.00 and gave the stock an “underweight” rating in a report on Thursday, March 21st. Sanford C. Bernstein upgraded shares of General Mills from an “underperform” rating to a “market perform” rating and upped their price objective for the stock from $62.00 to $70.00 in a report on Wednesday, May 15th. Finally, Evercore ISI decreased their price objective on shares of General Mills from $76.00 to $72.00 and set an “in-line” rating for the company in a report on Friday, June 28th. Two investment 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, General Mills has a consensus rating of “Hold” and an average target price of $70.00.

Insider Buying and Selling at General Mills

In other General Mills news, insider Werner Lanette Shaffer sold 710 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $70.57, for a total transaction of $50,104.70. Following the transaction, the insider now owns 17,397 shares in the company, valued at approximately $1,227,706.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.24% 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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.